When your debt is gone

So, what happens to your Manulife One account when you have a positive balance in your Main account? Your access to the equity in your home – the line of credit secured by your home – continues. Since your account puts your money to work for you when you have debt, it only makes sense that it continues to do so once the debt is cleared.

As you begin to accumulate money in your account, we give you a competitive rate of interest on any positive balances. This rate is applied to every positive dollar in your account. Click here to view current rates.  As with other deposit accounts, credited interest in excess of $50 per year will be subject to income tax.

You should also be aware that if you have debt in a sub-account but a positive balance in your Main account, you would earn interest on the positive balance while still paying interest on your debt. In other words, the positive balance will not be automatically used to lower your interest charges on your debt.