About Manulife One
Most Canadians manage their finances by doing two things:
- Depositing their income and other short-term assets into chequing and savings accounts.
- Borrowing when they need to, through mortgages, lines of credit, personal loans, and credit cards.
Sounds simple enough. Unfortunately, they usually receive low or no interest on the money they deposit, while they pay high interest on the money they borrow.
Wouldn’t it make more sense if the deposits and borrowings were combined? Why not have every dollar you earn paying down your debts until you need to spend that money?
Manulife One does just that – and more! It brings your mortgage, savings and income together into one multi-purpose “borrowing and chequing” account.
Now, your income can instantly reduce what you have borrowed. As you pay bills and other expenses throughout the month, the amount you owe will slowly go back up, but you’ll still be much further ahead. With Manulife One, every day that even a dollar of your income stays in your account, you have less debt and so, you pay less interest.
The idea behind Manulife One is simple: having your income and savings work harder to reduce your total debt faster.
 How Manulife One works
The concept of having an all-in-one account makes perfect sense: bring all your banking together to simplify your finances so your income and savings can work harder to reduce debt faster.
Consolidate your debts
When you open a Manulife One account, we could lend you up to 80% of the appraised value of your home. You use this money to pay off the balance of your existing mortgage, personal lines of credit and any other outstanding debts you might have. Now you pay one low interest rate on every dollar you borrow.
Put your savings to work
If you're tired of earning little or no interest on your chequing account, savings balances and short-term investments, Manulife oneManulife One can help put that money to work for you. It applies those balances against your borrowings, instantly reducing your total debt... and saving you much more in interest costs than you'd likely ever make in interest earnings! And, you can take it back out whenever you want (up to your borrowing limit).
Put your income to work
By adding your regular income to your Manulife One account,
you further reduce your debt the instant the deposit is made.
Your income is immediately working for you to reduce loan
interest costs until you need it for your monthly expenses.
With even one extra dollar of your income in your account,
you reduce your debt faster and so you pay less
interest.
Manulife One could save you thousands in interest costs
and help you become debt-free years sooner compared to your
old way of banking.
Next steps
Try our calculator to see what Manulife One could do for you.
Find out how to apply or learn more.
Is your bank telling you they offer “the same thing”? Try our Ten questions to ask your banker.
What’s your Manulife One Number?
Discover your Manulife One Number – it’s the amount of interest you could save over the life of your mortgage, simply by switching to Manulife One. This all-in-one account can help save you money, reduce your debt faster and simplify your finances. Because your chequing account, savings account, line of credit and mortgage don’t need to be separate.
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