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Personal Loan (over $12,500)

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

  • Interest rate: fixed or variable rate between 11.75% and 12.50% based on loan amount and term
  • Loan term: 1 to 5 years
  • Payment schedule: weekly, every 2 weeks or monthly


Interest rate

fixed or variable rate between 11.75% and 12.50%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


  • Loan payment frequency is flexible: weekly, every 2 weeks 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  • Payments will be withdrawn automatically from your account.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 caisse may agree to 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


Get a paper or online monthly statement of account

Should I get a fixed or variable interest rate?



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.

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.

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 and 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
  • Down payment 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 a personal loan)
Frequency of payments
  • Weekly
  • Every 2 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
At any time without penalty:
  • Your caisse
  • An ATM
  • Desjardins Card Services (24/7)
  • AccèsD Internet
  • 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 decision) Eligible (according to the caisse's Annual General Meeting decision)
  • No BONUSDOLLARS accumulated
  • Principal payment possible
  • No BONUSDOLLARS accumulated when you get Accord D financing
  • No principal payment possible
Distribution network
  • Caisse
  • AccèsD Internet (form)
  • Caisse
  • AccèsD Telephone
  • AccèsD Internet (form)
Application processing time Response given after an advisor's analysis of the file. Response within a few minutes
Other specifications  
  • Accessible 24/7 via AccèsD Internet.
  • Automatic deposit into the member's chequing account.
  • Borrowed principal is usually available again as Accord D financing is paid.

Documents to bring to your meeting with an advisor

  • Proof of income (pay stub, etc.)
  • Investment statements
  • Other loan statements (including consolidated loans)
  • Tax bills or leases

Useful links

Personal loan (over $12,500)
As of October 28, 2016
Term Rate*
1 year 11.75%
2 years 12.00%
3 years 12.25%

* Certain conditions apply. Find out more

Other rates - Personal loan