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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	1 to 5 years	6 months, 1, 1.5, 2, 3, 4 or 5 years
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 any time, without penalty, by contacting: your caisse AccèsD Telephone (takes 48 hours)	At anytime, without penalty, via: your caisse an 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)	Eligible (according to the caisse's Annual General Meeting's decision)
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 chequing account. Borrowed principal is usually available again as the Accord D financing is paid (certain conditions apply).