Want to be debt-free sooner
No one understands your personal and financial goals better than you. And no one will work as hard as you to make sure you stay on track and achieve your goals. Imagine if you had an account that put you in the driver's seat and addressed most banking needs. Manulife One is an innovative all-in-one account that does just that and, used effectively, could help you save hundreds of dollars in interest payments each year. This could add up to thousands of dollars over years.
Reduce interest payments
Manulife One makes it easy for you to consolidate your debt at a competitive interest rate and use your savings and income to reduce your debt more quickly. When your deposits exceed your expenses, they reduce your debt and the interest you pay on that debt, since interest in calculated on a daily basis.
The result – every dollar that you deposit works to keep your debt and interest costs lower. It's simple math.
Improve your cash flow
How you manage your debts and day-to-day cash flow can have a significant impact on your ability to realize your other financial goals. Manulife One offers you a way to manage your income and expenses more efficiently and to spend less each month on interest payments. What you do with that additional cash flow is entirely up to you. You can pay down your debt more quickly, invest in other aspects of your financial plan or anything else.
Enjoy financial flexibility
Diligent saving and sound money management should be rewarded. Some traditional banking products restrict you from making additional payments and/or paying off a debt before the end of the term. With Manulife One, you have the flexibility to increase the amount or the frequency of your debt payments at any time to pay down debt more quickly – such as when you receive a raise, a bonus or an income tax refund.
In addition, when unexpected expenses or an exciting opportunity arise, you can easily access your home equity, up to your pre-determined borrowing limit. Accessing this equity is as simple as writing a cheque, making a debit purchase or transferring money electronically.
Simplify your banking with an account for life
No more shuffling money among multiple savings accounts and debts. No more wondering if a particular cheque will clear. And, each month, with a Manulife One account, you'll receive a comprehensive statement that shows all of your transactions and provides a clear picture of exactly where you stand financially.
And, when your debt is gone, you can continue to use your Manulife One account as a high-interest chequing account with a large line of credit that can serve as a financial back-up plan.