Overview
The Productivity Solutions Grant (PSG) supports businesses in the adoption of pre-scoped solutions or equipment that improves productivity. It is coordinated by the Ministry of Trade and Industry’s Grants Management Office and administered by the respective sector-lead agencies. For the full list of supportable solutions under PSG, businesses may refer to GoBusiness Gov Assist.

Funding Amount
30% of qualifying expenses including:
- One-time set up costs,
- Subscription costs for two years

Scheme Period
Banks
Three years starting from 26 October 2020 to 25 October 2023.

Who is eligible
Singapore-based financial institutions with not more than 200 employees. Currently open to banks only.
Grant Details
Applicant eligibility | Applicants should be Singapore-based financial institutions with not more than 200 employees. The scheme is currently open to banks only and will be expanded to include insurers and capital market intermediaries. |
Project eligibility | Eligible applicants qualify for funding if they use a pre-approved solution from the three solution providers to assist regulatory reporting:
AxiomSL Pte Ltd
Vermeg International Singapore Pte Ltd
|
Funding Support |
Banks
|
How to Apply
Eligible banks can now apply for funding via the Business Grants Portal.