Desjardins Personal Loan (over $12,500)

Quick facts

Interest rate: fixed or variable rate between 11.75%¹ and 12.25%¹ based on loan amount and term
Loan term: 1 to 5 years
Payment schedule: weekly, bi-weekly or monthly

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Who should get this loan?

Borrowers who want $12,500 or more to finance a personal project.

Features


Interest rate	Fixed rate or variable rate between 11.75%¹ and 12.25%¹ based on loan amount and term. See Should I get a fixed or variable interest rate? See current rates.

Amount available	Recommended for amounts over $12,500. Amount granted is determined by: your financial capacity; the amount of financing required; or the useful life of the financed product.

Repayment	Loan payment frequency is flexible: weekly, bi-weekly or monthly. Payments will be withdrawn automatically from your account. No prepayment penalties: Pay off your loan whenever you want, in part or in full, without being charged extra fees.

Loan term	Your branch may agree to a longer term depending on your use of the loan (e.g., your unused RRSP contribution room) and, in some cases, on the collateral provided.

Possible uses	Buy furniture. Renovate your home. Purchase a computer. Pay your income tax. Make RRSP contributions. Cover health care expenses. Buy a new vehicle or pay for car repairs. Pay travel expenses.

Other	Get a paper or online monthly statement of account to follow rate fluctuations.

Should I get a fixed or variable interest rate?

Profile	Suggestion

You are cautious and sensitive to rate fluctuations.	Choose a fixed interest rate: Guaranteed for the duration of the term. Predictable. Easy to manage. Convertible to a variable-rate loan at any time without fee or penalty.

You are daring and moderately sensitive to rate fluctuations.	Choose a variable interest rate: Follows market fluctuations Advantageous when rates are stable or falling. Generally lower interest rate than the current fixed rate. When rates drop, your payment amount remains the same but the duration of the loan may decrease. Convertible to a fixed-rate loan at any time without fee or penalty. The interest rate will be the current fixed rate at the time of conversion.

Did you know?

When you take out loan insurance, the insurer repays the insured portion of your loan in the event of death. In the event of disability, Loan Insurance helps you meet your financial obligations by repaying the insured portion of your loan on your behalf.




	By phone	1-888-283-8333


	At the branch	Make an appointment with an advisor at a branch.

1. In Ontario, the annual percentage rate (APR) is equal to the posted interest rate, assuming that there are no additional charges applicable to the loan. Should there be such charges, the APR might be different.