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Email this6:53 pm
September 30, 2017
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Advantage accounts
*4.80% promotional rate is for new deposits to a new personal, non-registered, Canadian-dollar Advantage Account. The promotional interest rate is made up of the regular posted annual variable interest rate of 1.95% and the variable annual promotional rate of 2.85%. Interest is calculated daily and paid monthly beginning on the date the account is opened and continuing 120 days (4 months) on net new deposits to a maximum of $500,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer is limited to one account per client and cannot be combined with other offers. The offer and rates are as of December 12, 2024 and subject to change without notice.
TFSA & RRSP accounts
*4.80% promotional interest is for new deposits to Tax-Free Advantage Accounts and Registered Advantage Accounts. The promotional interest rate is made up of the regular posted variable annual interest rate of 1.05 % and the variable annual promotional rate of 3.75%. Interest is calculated daily and paid monthly from December 12, 2024 to April 30, 2025 on net new deposits to the account received from December 12, 2024 to March 10, 2025 to a maximum of $250,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer and rates are as at December 12, 2024 and subject to change without notice.
5:04 am
September 7, 2018
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Manulife is a bit odd - they do not seem to advertise this nor advise current clients.
Current accounts are not eligible apparently - one needs to open a "new account".
How did you find out about this? Their regular HISA interest rate of 1.95% is near the lower end of the Comparison Chart - and likely will be a lot lower in 2025 once this 120 day promo is finished.
6:52 am
April 21, 2022
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What I noticed in the offer details was that both the regular and promotional rate are variable. Does that mean they’ll increase the promotional rate in the event the regular rate decreases inline with the BoC, so that it pays 4.8% for the entire 180 days?
Reading the details again, that seems to be the case. I’m currently on their now 4.95% offer that was unknowingly applied to an existing Advantage account. The new 4.8% offer states that it cannot be combined with other offers. The 4.95% technically wasn’t an offer in a traditional sense. Has me wondering…hmmm.
8:05 am
September 29, 2017
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Note that this is NOT a 180-day offer. The rate only applies until Apr 30, 2025, just over 130 days from now.
8:26 am
January 7, 2020
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I just opened a new advantage account. (This makes 6 advantage accounts I have there now)
4.80% for 4 months
8:42 am
April 21, 2022
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smayer97 said
Note that this is NOT a 180-day offer. The rate only applies until Apr 30, 2025, just over 130 days from now.
That cutoff date seems to only apply to an RRSP or TFSA. The HISA seems to indicate it’s 120 days if opened by 10 March.
Further reading of the T&Cs clarified a change to the regular interest rate will reduce the total HISA promotional rate accordingly.
2:46 pm
May 28, 2013
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Be cautious, if you have created a new Advantage account when you might already have an existing account at Manulife. They state:
"*4.80% promotional rate is for new deposits to a new personal, non-registered, Canadian-dollar Advantage Account."
Say you wish to bring in new funds to Manulife to put into the NEW account, but your existing outside link is to your current Manulife account. Once the funds have been deposited to your existing account, they are now considered OLD money and not eligible for this promo rate, as you will be moving money internally in Manulife to finally get it into the new account. This has happened to me twice, and in each case I had to do strenuous battle on the phone to get them to admit that yes the funds were new to Manulife and they would pay the promotional rate once it arrived in the new account.
To avoid this problem, link your NEW account directly to your outside account, so that the transfer is directly to the NEW account.
4:17 pm
April 6, 2013
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The Advantage Account 4.80% offer terms and conditions warns about that:
… Subject to the limits and qualifications outlined in these terms and conditions, Manulife Bank will pay the Promotional Interest [currently 4.80%] on Net New Deposits made during the Promotional Period, up to a cumulative total of $500,000 (“Eligible Deposits”) into your Eligible Account during the Promotional Period. Any balance in excess of Eligible Deposits will earn interest at the Regular Rate. Net New Deposits are funds from an external source and cannot be transferred from an existing Manulife Bank account. All funds held by the client in existing Manulife Bank account(s) on December 11, 2024, will not count as Eligible Deposits. Any withdrawals from the Eligible Account during the Promotional Period will be subtracted from the Eligible Deposit balance. …
7:17 am
January 10, 2017
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mustang said
I just opened a new advantage account. (This makes 6 advantage accounts I have there now)
4.80% for 4 months
Seems there is no way to open a new Advantage Account from their mobile App. How do you open new accounts?
7:43 am
January 7, 2020
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Lodown said
Seems there is no way to open a new Advantage Account from their mobile App. How do you open new accounts?
Yes, I actually experienced that when using the mobile app
I signed in from laptop-- Products and Services/Bank accounts/
Then you see 4.8% offer
Also, it looks like if you just go to their manulife banking site (i.e, don't sign in), it comes up right away
7:14 am
September 30, 2017
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Today, I saw promo posted in my TFSA. My plan for 4.80% till July is to
- pump up the TFSA now & stay until Apr 30th
- open later new non-registered on March 10th
9:47 am
March 15, 2019
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Ok, I'm confused.
I'm supposed to have 5.15% up to $500,000 until the end of February.
What is my rate now? Is it 4.80%?
10:44 am
April 6, 2013
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The 4.80% for 120 days on the Advantage Account is a different offer that pays an extra 2.85% on the account's regular interest:
Manulife Bank’s 4.80% Personal Advantage Account Interest Offer, which is currently 4.80% (“Promotional Interest”) is made up of the regular posted variable annual interest rate of 1.95% (“Regular Rate”) and the variable annual promotional rate of 2.85% (“Promotional Rate”). Any change to the Regular Rate will result in a corresponding change to the Promotional Interest. For example, if the Regular Rate of 1.95% were to decrease to 1.85% the Promotional Interest would decrease to 4.70%. …
I think the earlier 5.15% offer was an extra 3.00%. So, your rate now is 4.95% under that offer.
10:45 am
April 21, 2022
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COIN said
Ok, I'm confused.I'm supposed to have 5.15% up to $500,000 until the end of February.
What is my rate now? Is it 4.80%?
Log into your Manulife account and open the details tab, it will indicate the interest rate. In your case it will likely be 4.95%.
12:23 pm
January 10, 2017
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Can new funds be "pulled" or "pushed" into a previous Manulife Advantage account and then on the same day transfered into the new Manulife Advantage account for the 4.80%?
12:39 pm
June 20, 2023
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Lodown said
Can new funds be "pulled" or "pushed" into a previous Manulife Advantage account and then on the same day transfered into the new Manulife Advantage account for the 4.80%?
In my experience, yes.
2:43 pm
January 7, 2020
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jorno319 said
In my experience, yes.
I asked that specific question -- via email-- and was a given a definite NO
Which caused me to delete my previous new link, and create a new one, to this specific account
Seems a little odd, but I prefer to not take the chance
2:52 pm
April 6, 2013
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mustang said
I asked that specific question -- via email-- and was a given a definite NO
Which caused me to delete my previous new link, and create a new one, to this specific account
Seems a little odd, but I prefer to not take the chance
That's not surprising. The fine print of the offer warns that "Net New Deposits are funds from an external source and cannot be transferred from an existing Manulife Bank account."
Another person warned about transferring funds from an existing account and had to argue with Manulife Bank to treat the transferred funds as new deposits.
3:09 pm
June 20, 2023
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mustang said
jorno319 said
In my experience, yes.
I asked that specific question -- via email-- and was a given a definite NO
Which caused me to delete my previous new link, and create a new one, to this specific account
Seems a little odd, but I prefer to not take the chance
I stand corrected. Lodown, I hope I have not caused confusion for you.
6:15 pm
January 10, 2017
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I was going to setup a new Manulife account tomorrow so no issue experienced. Seems to me that Manulife lets their computers run the show so anything from a existing account is deemed ineligible.
At my external account I will therefore link to my new Manulife account number.
From Manulife, if I want to 'pull' funds in to the newly created Manulife account, I will still be able do so from pre-existing external bank links I have at Manulife - correct or is this also a problem?
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