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Payment deferral

Due to the COVID-19 pandemic, you may have some financial concerns. Recent mandatory closures and preventative isolation regulations are causing a lot of worry.

This is why UNI has taken extraordinary measures to help you deal with this situation and offer some relief.

As such, we are providing an opportunity to defer your payments (capital and interest) on all or a portion of your loans that you hold with UNI —with no fees. UNI is there to help you with your mortgages, personal loans or business financing.

Important! Interest will continue to accumulate on your balance during the deferral period. Payment deferral is available only for loans taken out with UNI. If you have loans with other institutions, you must contact those institutions directly to defer your payments.

UNI has established flexible financial assistance programs for its client members (individuals and businesses) who wish to defer payments due to financial difficulties. These programs are specifically for mortgages, and personal and business loans.

For the first three months, simply submit an application and you will be eligible for payment deferral. However, financial assistance will be determined on a case-by-case basis for the following months.

Normally, no relief will be provided for lines or credit. However, if your line of credit line is maxed out, we may consider relief on a case-by-case basis.

Given that these are Desjardins products, we encourage client members who are struggling financially to contact Desjardins at 1-800-363-3380. Each case will be reviewed individually.

A UNI client member credit card holder is eligible for a reduced interest rate of 10.9% only if they apply for a payment deferral on that particular credit card. After applying, they must call the telephone number on the back of the credit card to make arrangements with Desjardins customer service.

No, the loan amortization period will be extended. However, if you would rather maintain the current amortization, you will have the option of increasing the amount of your payments.

Not necessarily. Each situation is unique. Several things can affect your credit score. The current situation is exceptional. UNI will take that into consideration when making a decision on future credit. A deferred payment if there is one has considerably less impact on your credit score than a late payment.

If you have activated your Equifax protection, it is possible that you will receive an alert as a result of your requested payment deferral.

No, these payments will simply be postponed. Interest will continue to accumulate during this time.

UNI will review the option of deferring payments beyond the initial three months on a case-by-case basis. Depending on the circumstances, payments may be deferred for up to nine months. However, you will need to reapply after each three-month period.

Interest will continue to accumulate throughout the term of the deferral and will be added to the loan's capital or paid later.

You have two options: keep the same payment with a longer amortization or increase the payment and keep the original amortization.

We hope to be able to offer this option. However, the situation is evolving rapidly and because of reduced resources we may not be able to respond to such requests. We will, however, do everything possible to accommodate you.

You will receive a confirmation e-mail when you submit your application and another confirmation e-mail after your application has been processed by an agent. If you applied by telephone through our 1-888-359-1357 call centre, the agent will give you a confirmation number for follow-up purposes. However, if you provided your e-mail address, an e-mail will be sent to you after processing.

If you have any questions, please call 1-888-359-1357 concerning a personal loan or 1-855-842-2511 for a business loan. As we are experiencing a high volume of calls, we thank you in advance for your patience.


I want to defer a payment on my personal loans


I want to defer a payment on my business loans