Desjardins Personal Line of Credit

An amount determined according to your needs that you can use as you wish.

Ideal for:

• financing renovations or travel expenses
• pay for your emergency purchases and regular or unexpected expenses
• overdraft protection

Advantages

With the Desjardins personal line of credit you can:

• obtain financing without having to reapply every time or justify the purpose as long as you stay within your credit limit;
• meet unexpected expenses or deal with a temporary lack of funds;
• get a very competitive rate;
• maintain a flexible capital repayment schedule.

Repayment terms

You choose your repayment terms:

• a percentage of the monthly balance, or a fixed or variable amount;
• on a daily, weekly or monthly basis;
• you can elect to repay just the monthly interest or repay the interest and the principal at any given time without penalty.

Authorized limit

• minimum line of credit is $5,000;
• amount is established according to your needs, financial situation and ability to repay;
• you can apply to increase an existing line of credit.

Access to funds

• by cheque
• at the ATM
• at the counter
• on AccèsD

For direct access to your line of credit without affecting the balance of your personal chequing account, use the special cheques available from your advisor.

Interest rate

• takes into account the authorized amount, your financial assets and guarantees provided, as required;
• fluctuates in relation to the prime rate charged by financial institutions;
• interest is calculated on the daily balance and is payable on a monthly basis.

Keeping track

All of your line of credit transactions appear on your statement of account. Your statement is available in electronic format in AccèsD or a paper statement can be sent to you in the mail.

Is it for you?

A line of credit the ideal tool for you if you:

• need an amount of $5,000 or more
• manage personal credit well
• are moderately sensitive to fluctuating interest rates
• need access to credit occasionally
• would like to have more leeway in managing your personal finances
• are waiting for the right time to make some new investments

Insurance that protects you

To keep your line of credit from becoming a burden to you and your loved ones in the case of death or disability, apply for Line of Credit Insurance.

	At the branch (Members and non-members)	Make an appointment with an advisor at a branch.