Empréstimos, financiamentos e investimentos

Loans and financing

It is important to understand how obtaining loans and financing works in Quebec, so that you can make informed decisions before taking on debt. There are several forms of credit in Quebec, including personal loans (secured or unsecured), lines of credit, credit cards, debt consolidation loans, student loans and mortgages.

Secured loans require collateral to be approved, such as a property or a mutual fund, while unsecured loans rely on your credit rating. When deciding whether to apply for a loan or financing, you should use criteria to select a lender, including details about interest rates, repayment terms, application and origination fees, and possible penalties for early repayment.

For any credit application, the financial institution will assess the customer's credit rating (find out more in Credit score page ) in the context of loan approval and interest rates. Check out offers from multiple financial institutions, including banks, credit unions, and online lenders. Compare the interest rates for each option, as well as the repayment terms and applicable fees.

Applying for a loan involves providing personal and financial information. It is essential to have the necessary documents and information on hand. Demonstrating stability, such as time spent living in the current property and seniority in the job market, and the ability to make payments in a timely manner can increase the chances of having your loan application approved. You should plan your payments according to your personal budget to ensure that the plan is in line with your financial capacity. In the case of business loans, banks require a business plan, but the rules for approval may also require collateral, as is the case with personal loans. There are financial institutions that focus exclusively on businesses, such as the Development Bank of Canada (DBCA).

Mortgages are long-term loans used to finance the purchase of a home. They can have fixed interest rates, which offer a consistent rate for the entire term of the mortgage, or variable interest rates, which have an interest rate that can change based on fluctuations in interest rates. This can result in varying monthly payments, secured by the mortgage itself. As of the date of publication of this Guide, in Canada, a minimum down payment of 5% is required for the first $500,000 and 10% for any amount above that amount when purchasing a residential property. Mortgages typically have a 25-year amortization period, but can range from six months to 35 years.

Investimentos

Os termos REER e RRSP são termos que significam a mesma coisa em idiomas diferentes (francês e inglês, respectivamente), e definem um tipo de conta regulamentado por lei. Funciona mais ou menos como o FGTS, com a diferença de que não é o empregador quem abre esta conta, mas sim o empregado, e é uma escolha livre, espontânea e pessoal. O objetivo de ter uma conta REER (ou RRSP) é o de usar os fundos ali depositados para pagar uma hipoteca ou financiar a aposentadoria. A lei prevê também o uso desta conta para pagar estudos. 

Para abrir uma conta deste tipo, a pessoa deve estar empregada e basta procurar um banco ou instituição financeira de sua preferência. Em muitos locais a pessoa responderá um questionário com o propósito de definir seu perfil de investidor, e então lhe será oferecido um pacote de investimento de acordo com este perfil. A pessoa escolhe quanto quer contribuir e pode parar a qualquer momento. O dinheiro que é depositado nesta conta não é tributável: você deve declarar o valor ali depositado ao longo do ano para abater do imposto de renda.

Existem muitos consultores financeiros que oferecem seguros e outros fundos de investimento  que não são REER ou RRSP. Mais informações sobre esses produtos e serviços estão disponíveis nesta publicação do Ministére du Travail.  Estes profissionais devem ser credenciados pela AMF, em francês Autorité du Marché Financier.