Enhanced Support for Training (Individuals)

How long will IBF take to process my claim if I have paid full fee?

IBF will take approximately approximately six to eight weeks from the date of submission to process your claim. A longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, NRIC not linked to your PayNow bank account or non-standard cases).

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I am a licensed representative. Will I be eligible for the Financial Training Scheme (FTS) course fee subsidy if my course is not sponsored by my Principal Entity?

Yes. You will be eligible for the Training Allowance Grant (TAG) if you successfully complete the FTS course commencing 8 April 2020 onwards. Your Principal Entity will submit a TAG claim on your behalf after course completion. You will be required to furnish to your Principal Entity relevant documentation, including a certification of course completion, as part of the claim application (...)

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Is Goods & Services Tax (GST) applied to the course fee eligible for the enhanced course fee subsidies and the IBF Credit)?

Yes, the enhanced course fee subsidies under the IBF Standards Training Scheme (IBF-STS) and IBF Credit should be applied to the course fee inclusive of the prevailing GST amount.

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What will happen if I (a) drop out halfway through the course; or (b) did not pass my assessment for the course?

You will not be eligible for the course fee subsidy and the IBF Credit if you drop out halfway through the course or did not pass your assessment.

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Will I be eligible for the enhanced course fee subsidy and the IBF Credit if my course started before 8 April 2020?

The enhanced course fee subsidy and IBF Credit will only apply to IBF-STS courses that commence on or after 8 April 2020.

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