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Manulife One – A revolutionary way to manage your money

About your home

By combining your mortgage, savings and income into a Manulife One account, you could simplify your banking, save thousands in interest and be debt-free years sooner.

Use this calculator to input information about your home, mortgage, savings, debt and income to see how Manulife One could save you money and get you debt free faster.

Home value

You can find the current value of your home by looking at your tax assessment or providing an approximate value based on what similar homes in your neighbourhood are selling for.

If you don’t currently have a home, enter in the approximate value of the home you plan on purchasing.

Error

The minimum home value is $93,750. Please enter a home value greater than $93,750.

The maximum home value is $9,999,999. Please enter a home value less than $9,999,999.

 
 
$93,750
$9,999,999
 

Describe your mortgage to us

Current balance

You can find your current mortgage balance by checking your most recent mortgage statement.

If you don’t currently have a mortgage and are in the process of obtaining a mortgage, enter the approximate amount of the mortgage you are planning.

Error

The maximum mortgage balance is [MAXIMUM_VALUE]. Please enter a mortgage balance less than [MAXIMUM_VALUE].

 
 
$0
$1,000,000
 
Current interest rate

Enter your mortgage interest rate. This can be found on your most recent mortgage statement.

Error

Please enter the interest rate of your current mortgage.

The minimum mortgage interest rate value is 0.01 %. Please enter an interest rate greater than 0.01 %.

Your mortgage interest rate cannot exceed 30.00%

%
Payments frequency

Select the frequency of how often you pay your mortgage. The options are weekly, bi-weekly, semi-monthly or monthly. Check your most recent mortgage statement if you are unsure.

Mortgage payment

Enter in your mortgage payment that you pay monthly, semi-monthly,
bi-weekly or weekly.

Error

The mortgage payment entered will not cover the mortgage interest cost. Please adjust either the mortgage payment or the mortgage balance.

Mortgage payments cannot be greater than the mortgage balance. Please adjust either the mortgage payment or mortgage balance.

$0
 
$0
$25,000
 
*Required information *The mortgage payment entered will not pay off your mortgage within 30 years, which is the maximum mortgage repayment option for this calculator. Please increase the mortgage payment entered, or contact a Banking Consultant to review options. *With Manulife One you could borrow up to 80% of the value of your home. The mortgage balance entered is more than 80% of the value of home (Note – A 3 month mortgage interest prepayment penalty has been added to the mortgage balance you entered). Please enter a lower mortgage amount or contact a Banking Consultant to review your mortgage needs and possible solutions including the Manulife Bank Select mortgage which can be up to 95% of the value of your home.
 
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Error

One or multiple fields were not completed properly. Please fill all required fields.

Savings

Savings deposited into your Manulife One account immediately reduce your debt – and you pay interest on a lower balance saving you more in interest costs than you’d be likely to earn in a savings account.

Error

The maximum chequing account balance is $9,999,999. Please enter a value less than $9,999,999.

$0
 
$0
$9,999,999
 
Error

The maximum savings account balance is $9,999,999. Please enter a value less than $9,999,999.

$0
 
$0
$9,999,999
 
Short-term savings

Short-term savings could include things like cashable GICs, redeemable GICs, money-market mutual funds, and Tax-Free Savings Accounts (TFSAs).

Error

The maximum other short-term savings is $9,999,999. Please enter a value less than $9,999,999.

$0
 
$0
$9,999,999
 
 
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Debt

When you open a Manulife One, you could borrow up to 80% of the value of your home. Use this money to pay off the balance of your existing mortgage and your other outstanding loans. With Manulife One, you pay one low interest rate on every dollar you borrow. In the fields below, enter information about the debts you would like to repay using your Manulife One.

Your current mortgage

Current mortgage payment of [MORTGAGE_PAYMENT_BALANCE] made [PAYMENT_FREQUENCY].

Credit Card  

*Required information
*Loan payment must be greater than interest due.

Do you pay off your credit card every month?

There is no need to enter credit card debt if you pay it off every month, as this information will be captured on the cash flow screen when you enter your monthly household expense information.

Outstanding balance* Interest rate Monthly payment*
Monthly payment

If you do not pay off your credit card every month, input your approximate monthly credit card payment.

Car loan 

*Required information
*Loan payment must be greater than interest due.
Loan amount* Loan interest rate Monthly Payment*
Error

Your loan amount cannot be higher than $3,000,000.

$0
Error

Your interest rate cannot be higher than 30.00%.

%
Error

Your monthly payment cannot be higher than $3,000,000.

$0
Error

This debt will not be included in your calculation because it exceeds your borrowing limit.

 

Line of credit 

*Required information
*Loan payment must be greater than interest due.
Loan amount* Loan interest rate Monthly Payment*

Personal loan 

*Required information
*Loan payment must be greater than interest due.
Loan amount* Loan interest rate Monthly Payment*

Other loan(s) 

*Required information
*Loan payment must be greater than interest due.
Loan amount* Loan interest rate Monthly Payment*
 
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Error

One or multiple fields were not completed properly. Please fill all required fields.

Cash Flow

The excess income you leave in your Manulife One account automatically reduces your debt. Enter your household income and expense information in the fields below.

Monthly household income

Enter the “average” net/after-tax monthly income for your household including salary, bonuses, commission and any other regular income. This information can be found on your pay stub or on your bank statements.

$0
Your monthly debt payments:
$0
$0
Monthly household expenses

Enter the average monthly household expenses, not including any of the loan/debt information you already entered. Household expenses would include things such as groceries, transportation, utilities and property taxes. You can use the budget worksheet below to help you estimate your monthly expenses, or we can estimate your expenses based on your annual household income.

0%
Error

Your value cannot exceed [VALUE]. The total of your monthly debt costs and your monthly expenses exceed your stated income. Please ensure you did not include your debt payments in your monthly expenses.

Use budget worksheet
 
$0
$100,000
 

Maximum allowed: $0

You cannot exceed this value.

Housing costs  Total: $0

Financial  Total: $0

Recreation & leisure  Total: $0

Daily living  Total: $0

Transportation  Total: $0

*Required information
 
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Error

One or multiple fields were not completed properly. Please fill all required fields.

Results

Your Manulife One number is [MONE_NUMBER] . With Manulife One you could save [MONE_INTEREST_SAVE] in interest costs and be debt free in [MONE_WAY_TIME]. That is [CURRENT_WAY_TIME] earlier than your current way.

Your Manulife One number is $60,605
Current way With Manulife One VS

Total interest paid

Total interest paid

$0

$0

Projected time to be debt-free

You could be debt-free in

0 years, 0 months

0 years, 0 months

Enjoy more flexibility
Manulife One gives you the flexibility to divide your debt into sub-accounts if you’d like to track some of your debt separately or lock-in a portion of your debt at a fixed rate. Use the edit sub-accounts button to see how.
Because you require a mortgage greater than 65% of the value of your home, your Manulife One would include [SUBACCOUNT_BALANCE] in a 5 year, [SUBACCOUNT_INTEREST_RATE] fixed rate sub-account with a [SUBACCOUNT_AMORTIZATION_YEAR] year pay-off schedule. Different sub-account options are available. Use the edit sub-accounts button to change the details of this sub-account such as the term, rate and time to pay it off, or to add additional sub-accounts. Contact a Banking Consultant for more information.
 
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PDF report
 
 
 

Get started now with your local Manulife Bank Banking Consultant

Edit your sub-accounts

Manulife One gives you the flexibility to divide up to 100% of your debt into sub-accounts allowing you to:

  • Track some of your debt separately
  • Lock in a portion of your debt at a fixed interest rate to minimize your impact to rising mortgage interest rates
  • Have a specific paydown schedule which lowers your credit limit

Note – Any amount borrowed that is above 65% of the value of your home must be placed in a term sub-account. Any payments made to the sub-account will reduce the overall credit limit of your account by the amount of the principal payment.

Use the fields below to calculate how adding a sub-account(s) to your Manulife One can help you save interest and get you debt-free sooner.

Manulife One number – [NUMBER]

Main account balance

Interest rate

$0

0%

Sub-accounts balance

Borrowing limit

$0

0%

Current way With Manulife One VS

Total interest paid

Total interest paid

$0

$0

Projected time to be debt-free

You could be debt-free in

0 years, 0 months

0 years, 0 months

SUB-ACCOUNT 1

*The sub-account monthly payment(s) are higher than your available monthly cash flow. Please increase the sub-account amortization period(s).
*The sub-account amortization you have selected will make the time for you to pay-off your debt longer than your current way. Please decrease the amortization for your sub-account(s) by [NUMBER_OF_YEARS] years.
Error

Subaccount(s) must have a minimum of $5,000.

You must have at least [SUB_ACCOUNT_MIN] for the total of all of the sub accounts.

Your sub-account(s) cannot be larger than the total of your debt.

$0
 
$0
$9,999,999
 
 
Error

The minimum subaccount interest rate value is 0.01 %. Please enter a rate greater than 0.01 %.

Your subaccount interest rate cannot exceed 30.00%

$0
Error

The amortization period must be between 1 and 30 years.

The amortization period must be between 1 and 30 years.

1
Amortization years

An amortization period is the number of years it would take to pay off your entire sub-account amount. This is usually longer than the term of your sub-account.

 
1
30
 
0
Monthly Payment

Sub-account monthly payments are automatically made from your Main Account at the end of every month.

SUB-ACCOUNT 2 

*The sub-account monthly payment(s) are higher than your available monthly cash flow. Please increase the sub-account amortization period(s).
Error

Subaccount(s) must have a minimum of $5,000.

You must have at least [SUB_ACCOUNT_MIN] for the total of all of the sub accounts.

Your sub-account(s) cannot be larger than the total of your debt.

$0
 
$0
$9,999,999
 
 
Error

The minimum subaccount interest rate value is 0.01 %. Please enter a rate greater than 0.01 %.

Your subaccount interest rate cannot exceed 30.00%

$0
Error

The amortization period must be between 1 and 30 years.

The amortization period must be between 1 and 30 years.

1
Amortization years

An amortization period is the number of years it would take to pay off your entire sub-account amount. This is usually longer than the term of your sub-account.

 
1
30
 
0
Monthly Payment

Sub-account monthly payments are automatically made from your Main Account at the end of every month.

SUB-ACCOUNT 3 

*The sub-account monthly payment(s) are higher than your available monthly cash flow. Please increase the sub-account amortization period(s).
Error

Subaccount(s) must have a minimum of $5,000.

You must have at least [SUB_ACCOUNT_MIN] for the total of all of the sub accounts.

Your sub-account(s) cannot be larger than the total of your debt.

$0
 
$0
$9,999,999
 
 
Error

The minimum subaccount interest rate value is 0.01 %. Please enter a rate greater than 0.01 %.

Your subaccount interest rate cannot exceed 30.00%

$0
Error

The amortization period must be between 1 and 30 years.

The amortization period must be between 1 and 30 years.

1
Amortization years

An amortization period is the number of years it would take to pay off your entire sub-account amount. This is usually longer than the term of your sub-account.

 
1
30
 
0
Monthly Payment

Sub-account monthly payments are automatically made from your Main Account at the end of every month.

SUB-ACCOUNT 4 

*The sub-account monthly payment(s) are higher than your available monthly cash flow. Please increase the sub-account amortization period(s).
Error

Subaccount(s) must have a minimum of $5,000.

You must have at least [SUB_ACCOUNT_MIN] for the total of all of the sub accounts.

Your sub-account(s) cannot be larger than the total of your debt.

$0
 
$0
$9,999,999
 
 
Error

The minimum subaccount interest rate value is 0.01 %. Please enter a rate greater than 0.01 %.

Your subaccount interest rate cannot exceed 30.00%

$0
Error

The amortization period must be between 1 and 30 years.

The amortization period must be between 1 and 30 years.

1
Amortization years

An amortization period is the number of years it would take to pay off your entire sub-account amount. This is usually longer than the term of your sub-account.

 
1
30
 
0
Monthly Payment

Sub-account monthly payments are automatically made from your Main Account at the end of every month.

SUB-ACCOUNT 5 

*The sub-account monthly payment(s) are higher than your available monthly cash flow. Please increase the sub-account amortization period(s).
Error

Subaccount(s) must have a minimum of $5,000.

You must have at least [SUB_ACCOUNT_MIN] for the total of all of the sub accounts.

Your sub-account(s) cannot be larger than the total of your debt.

$0
 
$0
$9,999,999
 
 
Error

The minimum subaccount interest rate value is 0.01 %. Please enter a rate greater than 0.01 %.

Your subaccount interest rate cannot exceed 30.00%

$0
Error

The amortization period must be between 1 and 30 years.

The amortization period must be between 1 and 30 years.

1
Amortization years

An amortization period is the number of years it would take to pay off your entire sub-account amount. This is usually longer than the term of your sub-account.

 
1
30
 
0
Monthly Payment

Sub-account monthly payments are automatically made from your Main Account at the end of every month.

 
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Year by year cash-flow comparison

The following table shows the potential year-by-year breakdown of your cash flows for each of two strategies - your current way of banking, and managing your banking with Manulife One. The table shows what your principal and interest payments would be each year, and also shows your outstanding debt at the end of each year.

One Way vs. the Current Way

In the illustration, we have referred to the "Current Way" and the "One Way". The "Current Way" assumes that each current liability will continue to be repaid at the same rate and frequency as it has been and that no additional lump sum payment will be made. The "One Way" assumes that your savings and the entire difference between your income and your expenses will be applied to your borrowings.

If you would like to have some of the difference in money between your expenses and income go to other needs, such as other programs with your financial advisor or other future/planned living expenses, instead of this money going entirely to repaying the debt within Manulife One, please increase your expenses in the calculator. Please note this will increase the time it takes to be debt free. Click print for details or contact a Banking Consultant for a complete review.

Current way

Year Principal Interest Ending Balance

Manulife One way

Year Principal Interest Ending Balance

One Way vs. the Current Way

In the illustration, we have referred to the "Current Way" and the "One Way". The "Current Way" assumes that each current liability will continue to be repaid at the same rate and frequency as it has been and that no additional lump sum payment will be made. The "One Way" assumes that your savings and the entire difference between your income and your expenses will be applied to our borrowings.

Your initial balance

The "One way" initial balance is your total liabilities less your savings plus any penalties incurred for moving over your mortgage before it is up for renewal. For illustrative purposes, we have assumed a three-month mortgage penalty.

Rate

The Manulife One figures are based on an entered Manulife One base rate of 3.50%. This rate is for illustrative purposes only. The Manulife One rate is calculated on the daily closing balance and charged to the account monthly. Sub-accounts rates (if applicable) assume a fixed rate for the entire term of your mortgage. Sub-Accounts rates entered and results generated are for illustrative purposes only. In most cases, you will need to renew your sub-accounts one or more times, possibly at different interest rates, before the sub-account is completely repaid. The calculation assumes all payments are made when due and an interest rate and principal payment is charged to the main Manulife One account monthly. For current interest rate information, call 1-877-765-2265 or visit our web site at manulifeone.ca.

Costs

Manulife One account holders pay a monthly administration fee - which is currently $14.00 - to cover the costs of all regular banking transactions and this fee is included in the illustration of the "One Way" (clients 65 years of age and older pay $7.00 per month). Any costs associated with breaking your current mortgage (if applicable) shown in this illustration are an estimate only and may vary. Total Payment for One Way, shown on page 2 includes principal, interest and the monthly Manulife One fee. For a complete listing of all fees and services visit manulifeone.ca.

RESULTS

This report and all calculations within it are based on the assumptions you provided, and are for illustrative purposes only and not a guarantee of future results. Since your results will differ from this illustration, it is important that you review your account on a regular basis to ensure you are still meeting your financial goals. This report is a calculation of potential Manulife One benefits, assuming you were able to open this account today. However, to get started with Manulife One , you must first apply, have Manulife Bank review your application and, if approved, move your banking into the Manulife One account.

Manulife, Manulife Bank, the Manulife Bank For Your Future logo, the Block Design, Manulife One and the One logo, the Four Cubes Design, and Strong Reliable Trustworthy Forward-thinking, are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.

 
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Your Manulife One number is $0
Please fill in each section for us to calculate your Manulife one number. The more information you enter, the more precise your number will be.
House graph

This graph shows the value of your home, your mortgage balance less any savings, your consolidated debts and how much money you could potentially borrow with Manulife One. This graph is updated as you enter information on each of the calculator tabs.

House Top
House Bottom
Home value
Borrowing room
Other debts
Mortgage balance less savings

Looking for another innovative mortgage solution?  Check out Manulife Bank Select