IPDC launches ‘Progga’ loan scheme for teachers

IPDC Finance PLC has introduced Progga, a tailored loan facility dedicated to the teachers of Bangladesh. The launch coincides with the fifth edition of Priyo Shikkhok Shommanona 2025, a joint initiative that recognises and celebrates the contributions of educators to national development.

The product name Progga, meaning 'wisdom', reflects its purpose—acknowledging the vital role teachers play in building an enlightened society. This specially designed financial product aims to improve educators' access to finance by offering flexible and inclusive loan features.

Eligible full-time teachers from government, non-government, and MPO-listed institutions, as well as public and private universities, can apply for this loan. Retired teachers with an active source of income also qualify. Applicants must be aged between 22 and 65 years (or until retirement) and have a minimum monthly income of BDT 20,000.

Key features of Progga include a reduced interest rate, 50% discount on processing fees, and loan amounts of up to BDT 25 lakh without collateral. The product also recognises supplementary income sources, such as tuition and coaching, ensuring broader financial inclusion. Repayment terms range from six months to five years.

Speaking at the launch, Rizwan Dawood Shams, Managing Director of IPDC Finance PLC, said, "At IPDC, we believe teachers are the architects of a progressive society. With Progga, we aim to honour their lifelong dedication by providing financial solutions aligned with their needs. This is our humble tribute to those who educate and inspire future generations."

Progga can support a range of needs, from medical or family emergencies to education expenses and lifestyle enhancement. The launch reinforces IPDC's commitment to inclusive finance and meaningful social impact by strengthening the financial security of the nation's educators.