IPDC to provide loan for Covid-19 treatment 

IPDC Finance has introduced an emergency loan service to provide financial support for the treatment of Covid-19 patients.

It is of utmost priority to everyone now to be able to give proper treatment to their loved ones during this long running pandemic, IPDC said in a statement.

The new loan service of the country's first non-bank financial institution (NBFI) called 'IPDC Aroggo' will provide financial support for Covid-19 treatment, it said.

"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, he will also be given a personal loan under 'IPDC Aroggo' for Covid-19 treatment.

In that case, the recipient will get a loan at the rate of the current cost of funds and it will be considered as a personal loan.

The loan is applicable when the Covid-19 patient needs to be admitted to a hospital for treatment and the patient must be a family member of the applicant. 

The minimum loan amount 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 per cent 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," IPDC said.

Savrina Arifin, the head of retail business of IPDC Finance said, "As a socially responsible firm, IPDC has always tried to make significant contribution towards society through its services.

"In current Corona situation, 'IPDC Aroggo' is one such effort to respond to the need of the community. We hope this loan service will be really helpful to many families by eliminating the financial barrier towards the treatment of Covid-19," she said.