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Compare the RRSP loan with Accord D RRSP financing

Comparison table

	RRSP loan	Accord D RRSP financing1
Main purpose of loan	Annual RRSP contribution or unused RRSP contribution room	Annual RRSP contribution or unused RRSP contribution room
Minimum amount	$12,501	$500
Maximum amount	No limit	$50,000
Terms	Annual contribution: 1 to 5 years Unused room: 1 to 10 years, depending on amount borrowed (certain conditions apply).	1 year, 1.5 years, 2 years, 3 years, 4 years or 5 years Exclusive to Accord D RRSP financing: Option of deferring principal payments for a 6-month period, which is then added to the repayment period selected.
Rate	Fixed or variable rate based on term (RRSP loan rate).	Fixed rate based on repayment period offered (same rate as RRSP loans).2
Frequency of payments	Weekly Every 2 weeks Monthly	Monthly (according to VISA Desjardins account statement billing period)
Prepayment in whole or in part	At any time, without penalty, by contacting: your caisse AccèsD Telephone (takes 48 hours)	At any time, without penalty, via: your caisse at the ATM Desjardins Card Services AccèsD Internet (24/7) AccèsD Telephone
Payment terms	Principal and interest	Principal and interest Exclusive to deferred Accord D RRSP financing: Option of deferring principal payments for a 6-month period during which only interest is due. After the 6-month period, principal and interest payments apply.
Insurance	Optional Life insurance or death and disability insurance Premium based on age, gender and borrowed amount	Death and disability insurance automatically included at no additional fee (primary account holder only).3
Member dividends	Eligible (according to the caisse members' Annual General Meeting decision)	Eligible (according to the caisse members' Annual General Meeting decision)
Desjardins BONUSDOLLARS	No BONUSDOLLARS awarded on a loan. Principal payment allowed.	No BONUSDOLLARS awarded on Accord D RRSP financing. No principal payment allowed.
Distribution network	Caisse AccèsD Telephone AccèsD Internet (application form)	Caisse AccèsD Telephone AccèsD Internet
Application processing time	Response given after an advisor's analysis of the application.	Automatic response within a few minutes1,4
Other specifications		Available 24/7 through AccèsD Automatically deposited into the member's RRSP RS account when requested on AccèsD Borrowed principal usually becomes available again as Accord D financing is repaid5 (certain conditions apply).

1. Subject to approval by the Desjardins Card Services credit department.
2. Cash advance must be invested in a Desjardins investment vehicle to benefit from this rate.
3. Insurance coverages are underwritten by Desjardins Financial Security Life Assurance Company. Certain conditions and restrictions apply.
4. During Desjardins Card Services credit department business hours.
5. Borrowing to invest is a leverage opportunity. If the loan amount is invested in investment funds, the risk is even higher. See a Mutual Funds Representative to find out more.