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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
Online
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. …
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