IPDC unveils 'Progga': A special loan for teachers

IPDC Finance PLC has launched a loan product named Progga, specially designed for teachers in Bangladesh.

The launch aligns with the 5th edition of the joint initiative “Priyo Shikkhok Shommanona 2025,” which celebrates and supports the invaluable contributions of teachers to the nation’s development, according to a media release. 

The loan offers a special reduced interest rate, a 50 per cent discount on processing fees, and loan amounts of up to BDT 25 lakh without any collateral requirements.

Unlike traditional loans, Progga also considers supplemental income sources, such as tuition or coaching fees, to make the process more inclusive, the release says. 

Designed with flexibility at its core, Progga offers repayment terms ranging from 6 months to 5 years, allowing borrowers to manage their finances with confidence and ease.

The loan is available to full-time educators from government, non-government, and MPO-listed schools and colleges, as well as public and private universities.

Additionally, retired teachers with an active source of income are also eligible. Applicants must earn a minimum of BDT 20,000 per month and fall within the age range of 22 to 65 years (or until retirement), according to the release. 

Rizwan Dawood Shams, Managing Director of IPDC Finance PLC, said, “At IPDC, we firmly believe that teachers are the true architects of a progressive society. With Progga, we want to honor their lifelong dedication by offering financial freedom tailored to their needs. This is our humble tribute to those who inspire, educate, and shape the nation every day.”