Manulife Personal Advantage Account - new account rate 2.15% for 4 months | Page 2 | Manulife Bank | Discussion forum

smayer97 said
I can confirm that now it states:
"* The 2.15% new client personal Advantage Account interest offer is for new clients who have never previously held a Manulife Bank Advantage Account, and who open a new personal, non-registered, Canadian-dollar Advantage Account. .... Interest is calculated daily and paid monthly on net new deposits for the first 120 days (4 months) after account opening to a maximum of $50,000. "

whether via the first link above or even logging in... So they have really narrowed down the offer. It shows up EVERYWHERE now...seems like they really want to drive home these points...for customers who NEVER had an Advantage Account before, and only to a max of $50K.

By the way, the offer is only until Oct 31, 2020 to open the account.  

The limit of $250,000 is still shown today for some or all existing clients when they try to open a new account after logging in, subject to restrictions in fine print discussed in earlier posts.

annie said

Wow~ great interest rate.. how did you get it.. do you still have it?  

Yes, I still have it. It was a DUCA promo for 1 year offered for only a few days in April only to those with the previous DUCA Winter promo for 3% for Feb to May IIRC. After doing the calculation, I figured it was worth losing a couple of months of the 3% to gain 12 months at 2.5%. It is supposed to be valid until March 31, 2021. So far, still holding.

annie said

Can you give me the link to the webpage? Because I can't see where the 2.5% preferential interest rate is?  

As I said, this was only available for a few days back in April AND only to those with the DUCA Winter promotion account. So the offer is LONG gone.

If you take a look at the Legal right now it shows the following and has been changed to 50K since Sept 29.

I would think the Legal has priority over a misprint/typo elsewhere on the website.

Interest is calculated on the closing daily balance and paid monthly. The 2.15% new client personal Advantage Account interest offer is for new clients who have never previously held a Manulife Bank Advantage Account, and who open 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 0.15% and the variable annual promotional rate of 2.00%. Interest is calculated daily and paid monthly on net new deposits for the first 120 days (4 months) after account opening to a maximum of $50,000. 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 September 21, 2020 and subject to change without notice. Click here for full terms and conditions and visit manulifebank.ca for current rates.

From RFD, initially Manulife was offering $250K limit on both offers but then changed the offer where you open an account directly to $50K. Those using the special link still have a $250K limit.

I don't believe this offer is open to existing account holders. Clearly it says "new" account at bottom of application page as well as the T&C's

From the T&C's:
"Manulife Bank’s 2.15% Personal Advantage Account Interest Offer (the “Offer”) is available to Manulife Bank
Advantage Account clients (“Eligible Account Owner(s)”) who open a new personal non-registered Canadiandollar Advantage Account (“Eligible Account”) between September 21, 2020 and October 31, 2020 (the
“Offer Period”) using an exclusive URL or applying through an authorized Manulife Bank representative."

Just to clarify, the $50,000.00 maximum promotion is for new customers who are opening an Advantage Account for the first time, whereas the $250,000.00 maximum promotion is open to anyone and everyone, but only through an advisor. Hope that helps.