Mortgages - Manulife One
Manulife One is a new way of banking that allows you to combine your loans, savings and income into a single all-in-one chequing account. This innovative way of banking is ideal for homeowners who wish to save interest or pay off their mortgage more quickly.
Manulife One acts as your day-to-day chequing account, so accessing your home equity is as easy as writing a cheque, transferring money to another account or even using your bank card.
- No withdrawals are required, and there's no minimum withdrawal amount.
- You're free to pay back variable rate debt in your account at any time and without penalties.
- When your account has a positive balance, you earn a high rate of interest on every dollar.
Leverage Loans
Everyone has financial goals, but not everyone has the cash required to begin a good investment. Building the money over time restricts the amount you can invest and subsequently the returns you can expect. The ideal situation is to have a decent lump sum to start your investment off right.
With investment leverage, rather than making a series of small contributions over a long period of time, you borrow a larger amount and invest it all at once. This allows a much larger investment to grow for your full investment period. Then, instead of making additional contributions to your investment, you make interest payments on your loan. This type of borrowing is an Investment or Leverage Loan.
Advantage Account
Advantage Account is a high-interest, full-access, low fee chequing account that can be used by clients as their primary bank account or as a secondary investment account. This account combines the liquidity of a traditional chequing account with the interest of a short-term GIC or money market fund. Advantage Account's features and benefits are unrivalled in the marketplace.
As with a regular bank account, you can use your Advantage Account to:
- Set up pre-authorized bill payments for regular bills like your mortgage, insurance or utility payments. Contact the payee to make the arrangements.
- Withdraw cash at any ABM using your Access Card (daily withdrawal limit applies).
- Make direct payment (debit) purchases at retailers with your Access Card (daily limit applies).
- Pay bills with Internet and telephone banking.
- Check account balances
- Review account transactions
- Look at account details
As well as:
- Transfer funds between your Manulife Bank accounts (same currency)
- Transfer funds to and from your account at other Canadian financial institutions
- Set up automatic recurring fund transfers
- Download transaction history to third-party accounting software
Note: The variable annual interest rate is applied to all funds in the account. Interest is calculated daily on the total daily balance and paid monthly. The interest rate is subject to change.
Banking products are sold by Manulife Bank