Who can apply for the Desjardins home savings loan?
☑️ Be an active Desjardins member with a personal account
☑️ Be a Canadian resident or permanent resident with a valid address
☑️ Provide proof of stable and sufficient income to repay the loan
☑️ Meet Desjardins’ credit and eligibility criteria
☑️ Request an amount aligned with your FHSA contributions (up to $8,000 in the first year and up to $16,000 annually thereafter)
Documents required to apply
📄 Completed loan application form
📄 Valid government-issued ID (passport or Canadian ID)
📄 Recent proof of income (pay slips, tax returns, or federal notice of assessment)
📄 Proof of address (utility bill, lease, or other official document)
📄 Any statements related to current loans or investments
Approval is subject to meeting all eligibility criteria. Desjardins may request additional documentation based on your profile.
How to apply for Desjardins home savings loan
To apply for the Desjardins home savings loan, you can start online via AccèsD, by phone, or at your local caisse. After submitting the application and required documents, Desjardins reviews your profile and makes a decision based on your financial capacity.
If approved, the funds are deposited directly into your account, ready for your FHSA contribution. You can also speak to a Desjardins advisor for help in choosing the best loan term and understanding your repayment options. If your request is denied, you may reapply later after adjusting to meet eligibility requirements.
How to manage monthly payments for Desjardins home savings loan
Repayment for the Desjardins home savings loan is done through fixed monthly installments, which you can adjust to a weekly or bi-weekly schedule if preferred. Payments are debited directly from your Desjardins account or can be added as a secondary credit limit on your card.
You also have the option to repay the loan early or in partial payments without penalty. Monitoring your payments and balance is easy through AccèsD, where you can see your upcoming due dates and manage your loan in real time.
Rates and costs
The Desjardins home savings loan has fixed interest rates based on the term and amount borrowed. As of March 2025, rates start at 6.05% for a 1-year term and increase up to 7.45% for a 10-year term. Loan terms range from 6 months to 10 years, and amounts can go up to $8,000 in the first year, and up to $16,000 annually from the second year, depending on eligibility.
There are no penalties for early repayments, but Desjardins may charge administrative fees depending on loan structure. If any payments are missed, late fees may apply as outlined in your contract. It’s important to review all terms carefully before signing.
Smart tip for your wallet
When using a Desjardins home savings loan, one of the best strategies is to align your loan repayment plan with your tax refund. Since your FHSA contributions can generate a tax return, you can plan to use this money to pay off part or all of your loan, reducing interest costs.
Another useful tactic is to borrow only what you need to meet FHSA limits, avoiding unnecessary debt. If you expect a salary increase or bonus, you can also use that to pay down your balance early, thanks to the no-penalty prepayment option. And always keep track of your payments through AccèsD to stay in control of your finances.
Ready to get started?
The Desjardins home savings loan is a practical way to reach your FHSA goals and get closer to buying your first home. Click now and take the first step towards building your future.