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Compare the personal loan with Accord D financing

Comparison table
 
Personal loan
Accord D financing
Main purposes of the loan
  • Furniture
  • Consolidation of debts
  • Legal fees
  • Income tax
  • Computers
  • Annual RRSP contribution
  • Unused RRSP contribution room
  • Repairs/renovations
  • Health care
  • Car and recreational vehicle, without instalment sales contract ramentand car repairs
  • Traveling
Are excluded: investments, car and recreational vehicle, with instalment sales contract, and government guaranteed student loans
  • Furniture and appliances
  • Automobile
  • Consolidation of debts
  • Computer and electronic equipment
  • Legal fees
  • Downpayment on a home
  • RRSP investment
  • Renovations
  • Health care
  • Taxes/Income tax
  • Traveling
  • Other expenses
Minimum amount
$12,501
$500
Maximum amount
No limit
$50,000
Terms
12 to 60 months
6, 12, 18, 24, 36, 48 and 60 months
Rate
Fixed or variable rate based on amount and term (personal loan rate)
Fixed rate based on the amount and the term (same rate as with a personal loan)
Frequency of payments
  • Weekly
  • Every two weeks
  • Monthly
  • Monthly (according to the billing period of the VISA Desjardins account statement)
Prepayment in whole or in part
At anytime, without penalty, by contacting:
  • the caisse
  • AccèsD Telephone (takes 48 hours)
At anytime, without penalty, via:
  • the caisse
  • the ATM
  • Desjardins Card Services
  • AccèsD Internet (24/7)
  • AccèsD Telephone
Methods of payment
Principal and interest
Principal and interest
Insurance
Optional
  • Life insurance or life and disability insurance coverage
  • Premium based on age, gender and borrowed amount
Life and disability insurance coverage automatically included, with no additional fees (for the primary account holder only)
Member dividend
Eligible (according to the caisse's Annual General Meeting's decision)
Not eligible
Desjardins BONUSDOLLARS
  • No BONUSDOLLARS accumulated when you get a loan
  • Principal payment possible
  • No BONUSDOLLARS accumulated when you get Accord D financing
  • No principal payment possible
Distribution network
  • Caisse
  • AccèsD Telephone
  • AccèsD Internet (form)
  • Caisse
  • AccèsD Telephone
  • AccèsD Internet
Application processing time
Response given after an advisor's analysis of the file
Response within a few minutes
(Subject to approval by the Desjardins Credit Card Services credit department, during business hours)
Other specifications
 
  • Accessible 24/7 via AccèsD Internet
  • Automatic deposit into the member's PCA account
  • Borrowed principal is usually available again as the Accord D financing is paid. (Certain conditions apply.)

Interest rates

Mortgage loan
As of July 6, 2008
Term
Rate
"5-in-1" Yearly Fixed-Rate Resetter Mortgage Loan
6.00%
5 years (Closed fixed)
7.10%
Reduced variable rate
4.45%
Other rates – Mortgage loan

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