Friday, 24 September, 2021

Market Digest

IPDC launches new loan scheme for Covid treatment

IPDC Finance has launched a new loan product called ‘IPDC Aroggo’ to give financial aid in Covid treatment.

It is of utmost priority to everyone now to be able to give proper treatment to their loved ones during this long running pandemic, according to a press release of the private sector financial organization, reports UNB.

IPDC’s new loan service will provide financial support for Covid-19 treatment.

‘IPDC Aroggo’ loan can be given in two ways. Customers who have a fixed deposit account with IPDC will get this loan at a 0 per cent spread rate which means loan rate will be the same as Fixed Deposit rate.

If someone does not have a deposit account in IPDC, that person will be given a personal loan under ‘IPDC Aroggo’ for covid treatment. In that case, the person will get a loan at the rate of the current cost of funds and it will be considered as a personal loan.

‘IPDC Aroggo’ loan is applicable when the Covid patient needs to be admitted to a hospital for treatment. The patient must be a family member (parents, siblings, and spouse) of the applicant.  The minimum loan amount under IPDC Aroggo is Tk 50,000. In case of Personal Loan, the maximum loan amount is Tk 500,000. In case of SOD, the maximum loan amount is 80 percent of Fixed deposit or Tk 500,000, whichever is lower. In case of SOD, the maximum loan repayment period is two months and in the case of personal loan, the maximum repayment period is 36 months.