Funding of IPDC launched a new loan product called ‘IPDC Aroggo’ to give financial assistance in Covid treatment.
It is now of the highest priority for everyone to be able to provide appropriate treatment to their loved ones during this long pandemic, according to a press release from the private sector finance organization.
The new IPDC loan service will provide financial support for the treatment of Covid-19.
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The “IPDC Aroggo” loan can be granted in two ways. Clients who have a fixed deposit account with IPDC will get this loan at 0 percent spread rate, which means the loan rate will be the same as the fixed deposit rate.
If someone does not have a deposit account at IPDC, that person will benefit from a personal loan under “IPDC Aroggo” for the treatment of covid. In this case, the person will get a loan at the current cost of funds rate and it will be considered a personal loan.
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The “IPDC Aroggo” loan is applicable when the Covid patient must 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 the Aroggo IPDC is Tk 50,000. In the case of a personal loan, the maximum loan amount is 500,000 Tk. In case of SOD, the maximum loan amount is 80% of the fixed deposit or Tk 500,000, whichever is lower. In the case of SOD, the maximum loan repayment period is two months and in the case of a personal loan, the maximum repayment period is 36 months.
Savrina Arifin, Head of Retail for Funding of IPDC said: “As a socially responsible company, IPDC has always strived to make a meaningful contribution to society through its services. In Corona’s current situation, ‘IPDC Aroggois one such effort to meet the needs of the community. We hope that this loan service will be of real benefit to many families by removing the financial barrier to treatment for Covid-19. “