FAQ – Personal financial products and services – Loans

You can't transfer funds from your line of credit to your everyday account. Lines of credit were designed to protect your account in the event of insufficient funds when making purchases, bill payments, pre-authorized payments, etc.

A line of credit is a financing product that allows you to get funds when you need them from your everyday account. Transactions are authorized even though they exceed your account balance. The account is overdrawn, and a cash advance from your line of credit automatically brings your account back up to $0 at the end of the day.

You can, however, have funds transferred from your line of credit to your everyday account by contacting your caisse.

No, you can use your line of credit and you'll still have access to the full overdraft amount available to you.

No, you can use your line of credit and you'll still have access to the full overdraft amount available to you.

You can pay your line of credit online from the AccèsD home page on the right-hand side by clicking Transfers, then Transfers between accounts.

If you're using AccèsD on our mobile app, tap Transfers in the bottom menu, then Transfers between accounts.

In addition to these payments, the automatic payments you agreed to when signing your agreement still apply and you must keep making them.

To make prepayments on a loan or to request a payment agreement, you must, in both cases, contact the appropriate component depending on the type of loan you have.

Caisse loan (personal loan, car loan or mortgage)

Contact your caisse directly.

Desjardins Ready-to-Drive Loan

Principal payments
Montreal area: 514-CAISSES (514-224-7737)
Elsewhere in Quebec, Canada and the U.S.: 1-800-CAISSES (1-800-224-7737)

Payment agreements
Montreal area: 514-397-0376
Elsewhere in Quebec, Canada and the U.S.: 1-877-999-5552

Government Guaranteed Student Loan

By phone
1-866-388-3373

If you're planning to buy a vehicle over $5,000 from a new or used car dealer, a Desjardins Ready-to-Drive Loan is your better option.

The Desjardins Ready-to-Drive Loan is the ideal financing tool for a new or used car, motorcycle, recreation vehicle, boat or RV.

The Desjardins Ready-to-Drive Loan is a comprehensive financing tool that includes exclusive advantages that can help you save a lot of money. It includes:

• life insurance at no additional charge
• free roadside assistance for 1 year
• an exclusive discount of up to $50 towards auto insurance
• competitive rate, fixed or variable

Learn more about the Desjardins Ready-to-Drive Loan.

If, however, you're planning to buy a vehicle over $12,500 from a private seller, a Desjardins Auto+ Loan may be a good choice for you.

Apply for the loan at your caisse or by phone at 1-800-CAISSES.

Learn more about the Desjardins Auto+ Loan.

You've received your student loan Guarantee Certificate and would like the first disbursement to be deposited to your Desjardins account?

Follow these steps:

• Ensure you have a Desjardins account.
  To learn more about opening an account, see Everyday account.
• Go to a caisse counter to fill out the required document.

Interest paid on loans is displayed on the last statement of account of the year.

If you get your statements of account online, you'll find the information on your December statement (click on Monthly statement of account in the left-hand menu). The loan section is located towards the end of the statement and displays a summary of interest paid.

If you have not registered for online monthly statements of accounts, you should have received your statement in the mail. If you have not received your statement, please contact your Desjardins caisse.

Once your application has been processed, the AFE will send you a Financial Assistance Statement telling you the total amount of financial assistance granted and a breakdown of the instalments. Shortly after, you’ll receive Guarantee Certificate and Loan Agreement.

Obtaining and submitting your Guarantee Certificate and Loan Agreement

Once your file has been registered and you've been approved to receive aid from the AFE, you'll start receiving payments in your account within 24 to 48 hours of contracting your loan.

Student members: Fill out the form

Student non-members: You must open an account at Desjardins so we can release your funds to you. To open an account, make an appointment.

Did you know?
At Desjardins, even if you are studying out of town, you can continue doing business with your local caisse through another one that's closer to your school.

Financial assistance payment procedures

To avoid complicating the repayment of your loan, it is very important that you be the only account holder at the caisse. If the financial aid payment is deposited into a joint account or into a parental account in your name, your periodic or monthly payments will be delayed so they can first be validated.

Applying for a loan for the first time? To make sure you don't forget anything, see Applying for financial assistance - External link. This link will open in a new window. on the AFE website.