Desjardins Personal Loan: Low Rates with a Cooperative Twist
Desjardins offers a personal loan with some of the lowest starting rates in Canada. But is it the right choice for you? Let's break it down.
The Quick Version
If you’re after a personal loan with low starting rates, Desjardins is a solid contender. With APRs from 5.95% to 11% and amounts ranging from CAD 3,000 to CAD 50,000, it’s flexible enough for most financial needs. However, the best rates are reserved for members with strong credit.
Desjardins Personal Loan
A flexible personal loan with low starting rates
Desjardins Personal Loan
What You Get
Desjardins offers a personal loan with an APR ranging from 5.95% to 11%. Loan amounts start at CAD 3,000 and cap at CAD 50,000, with terms between 12 and 60 months. You can choose between a fixed or variable rate, and even switch between the two. Just remember, proof of income is needed unless you have direct deposit with Desjardins.
What's Actually Good
The standout feature here is the low starting APR of 5.95% — tough to beat in the Canadian market. As a cooperative, Desjardins often gives preferential treatment to its members, which can mean better rates and terms. Plus, their online and mobile application process is straightforward, allowing you to apply from anywhere.
The Catch
The downside? Those attractive rates are primarily for members with high credit scores. If your credit isn’t stellar, expect to be closer to that 11% APR. Also, while the flexibility of switching rates is nice, it can lead to unexpected costs if not managed carefully.
Who Should Apply
This loan is best for high-credit individuals who are already Desjardins members or are willing to become one. If you have a credit score over 700 and need a sizable loan with flexible terms, this could be a great fit.
The Bottom Line
Desjardins offers a competitive personal loan for those with strong credit and a membership. It's ideal if you value low rates and flexible terms. Looking to consolidate debt? Check out our guide on the best picks for 2026: The Truth About Debt Consolidation: Top Picks for 2026.
