Deardens And Loans: What's The Connection?

Desjardins offers loans for a variety of purposes, including large purchases, home renovations, debt consolidation, investments, education, and even assisted reproduction. They provide flexible repayment options, such as fixed and easy-to-manage payments, as well as online and mobile services for convenient loan management. Desjardins also offers retirement planning solutions, including loans for retirement savings plans and financing for international adoption or medically assisted reproduction with lower interest rates than personal loans.

Desjardins loans for big purchases

Desjardins offers a range of loans to help individuals achieve their financial goals and make big purchases. Here are some of the options available:

Personal Loans

Desjardins offers personal loans that can be used for various purposes, including big purchases, projects, or investments. With a personal loan, you receive a set amount of money, which you can choose to repay at a fixed or variable rate in easy-to-manage payments over a specific time period. Personal loans provide flexibility, allowing you to pay off the loan in full or in part at any time without penalty. Additionally, loan insurance is available, providing financial protection in the event of death or disability.

First Home Savings Account (FHSA) Loan

The FHSA loan assists individuals in maximizing their contributions to their first home savings account. This loan can be repaid in fixed payments or as a one-time payment at maturity. It helps individuals save for their dream of owning a home.

Registered Retirement Savings Plan (RRSP) Loan

The RRSP loan is designed for individuals planning for retirement, buying a home, or pursuing further education. This loan allows you to borrow funds to contribute to your registered retirement savings plan, offering lower interest rates than personal loans and repayment terms of up to 10 years.

Investor Strategic Line of Credit

This line of credit enables you to leverage the equity in your home to generate after-tax income that exceeds your after-tax loan interest. It provides the flexibility to borrow and reborrow funds as needed, making it a versatile option for those with existing home equity.

Auto Loans and Student Loans

Desjardins also provides auto loans to help individuals finance the purchase of a car or RV. Additionally, they offer student loans and lines of credit to support individuals during their vocational, CEGEP, or university studies. These loans can be combined with government financial aid to help cover tuition and living expenses.

Desjardins encourages individuals to explore their borrowing solutions and utilize their online tools to find the right loan option for their specific needs and goals.

Desjardins loans for home renovations

Desjardins offers a range of loans and refinancing options for homeowners looking to renovate their properties. The institution provides access to a full range of mortgages at competitive rates, allowing borrowers to utilise their home equity to fund renovation projects.

One notable offering is the Sustainable Home Program, which provides financing for eco-friendly renovations and new construction. This program is designed to help homeowners reduce their environmental footprint and save money through energy efficiency. To be eligible for the Sustainable Home Program, renovations must have an EnerGuide rating of 90 GJ/year or lower, and homes must meet specific criteria, including single-family detached homes, row houses, semi-detached homes, and residential rental properties with four units or fewer where the owner occupies one of the units. The program offers a minimum refinancing option of $10,000 for renovations, with a total minimum mortgage of $100,000, and participants can receive up to $500 cash back when linked to the Rénoclimat subsidy program.

Additionally, Desjardins provides personalised support through EspaceProprio, connecting homeowners with professionals who can assist in bringing their renovation visions to life. They also offer tips and guidance on federal, provincial, and municipal grants available for renovations, helping borrowers make informed decisions about their projects.

When considering refinancing options, Desjardins advises borrowers to calculate 80% of their home's determined value and subtract the remaining mortgage balance to estimate the maximum amount they can borrow. This allows homeowners to access the necessary funds for their renovation projects while managing their overall financial commitments.

With its range of loan and refinancing options, Desjardins empowers homeowners to undertake home renovations, whether it's for sustainability, necessary upgrades, or personalisation, by providing the financial tools needed to turn their visions into reality.

Desjardins loans for debt consolidation

Desjardins offers a range of loans for various purposes, including debt consolidation. Debt consolidation combines multiple financial obligations into one periodic payment, reducing the amount of individual payments or enabling faster debt repayment.

Desjardins provides tools and resources to help individuals manage and repay their debts. The Manage Debt tool on AccèsD allows members to access information about their debt level and receive personalized financial advice. This tool can be particularly useful for those with financial commitments with Desjardins, as some fields are automatically completed, such as interest rates.

When considering debt consolidation, it is essential to assess your financial situation and goals. Desjardins offers tools to help individuals choose the right financing option. Their online and mobile services provide easy and convenient access to manage loans and lines of credit.

Additionally, Desjardins provides personal loans, which can be used for various projects or purchases. These loans offer fixed or variable rates, making it easier to manage payments. It is recommended to review your budget, create a debt repayment plan, and understand your credit report before taking out a loan.

By utilizing the tools and resources offered by Desjardins, individuals can effectively manage their debts and explore loan options for debt consolidation, ultimately reducing their financial stress.

Desjardins loans for investing

Desjardins offers a range of loans and financing options to help individuals and businesses achieve their financial goals. Here are some key details about Desjardins loans for investing:

Personal Loans

Desjardins offers personal loans for various purposes, including investing. With a Desjardins personal loan, you can borrow money for any goal you have in mind, such as making a big purchase, investing in your first home, or planning for retirement. These loans offer flexible repayment options, allowing you to make fixed and easy-to-manage payments over time.

Student Loans

Desjardins provides student loans to help individuals finance their education. The Student Strategic Line of Credit can assist with university tuition and living expenses for specific fields of study. Additionally, the RRSP loan allows you to contribute to your registered retirement savings plan (RRSP) and pay it back with equal payments added to your Desjardins credit card.

Business Loans

Desjardins offers tailored financing options for businesses, including equity investments and unsecured loans. Their business loans are designed to help businesses at any stage, whether starting, growing, or optimizing. The Real Estate Financing Group, for example, specializes in financing large-scale real estate development projects with a positive community impact. Desjardins also offers short-term financing, bridge financing, and preauthorized credit to support businesses with their immediate financial needs.

Investor Strategic Line of Credit

Desjardins offers an Investor Strategic Line of Credit, which can be leveraged to generate after-tax income. This line of credit can be used to make investments and potentially earn returns greater than the loan interest.

To explore specific loan options and eligibility requirements, individuals and businesses can utilize Desjardins' online tools, borrowing solutions, and personalized guidance from their team.

Desjardins loans for education

Desjardins offers a range of loans and lines of credit to help students cover the cost of their education. These include government-guaranteed student loans, which offer flexible repayment options and tax benefits. The interest paid on these loans is tax-deductible through non-refundable provincial and federal tax credits. Students can choose a repayment strategy that works for them, with the option to pay in fixed and easy-to-manage payments.

The government pays the interest on the loan while the student is in school, and repayment begins at the start of the month after they have finished or stopped school. There is a six-month grace period after completion of studies before repayment must start, during which interest accumulates.

Desjardins also offers credit cards with no fees, cashback, and comprehensive travel insurance, which may be of interest to students. Additionally, they provide a Student Advantage Line of Credit to help students pay their tuition and living expenses, as well as a Student Strategic Line of Credit for those in specific fields of study.

To be eligible for these offers, students must be members of Desjardins, aged between 18 and 25, and enrolled full-time in a college or vocational program at a recognized educational institution in Canada, or enrolled full-time at a Canadian university, regardless of age.

Frequently asked questions