Manulife One – be debt-free sooner

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.

Now, that’s a complete banking solution !


 

Testimonials

Sylvain (52) and Chantal (48) of Montreal area, QC

Way to go Manulife One!

My wife and I have had a Manulife One for nearly four years. We are both retired government employees and are on a fixed monthly income. Manulife One has given us peace of mind. We now use only one account for all of our banking, including our mortgage and feel that whatever may happen financially, we can face it.

We are both pleased to be able to successfully manage our spending in order to get debt-free sooner!

 

Justin (43) and Heather (39) of Chilliwack, BC

Benefiting from the flexibility of the account and access to their equity

“When we first signed up for Manulife One, we were living in our townhouse and were able to pay down our mortgage very quickly. We moved to a new house in 2005 and the process went well. We were able to completely renovate our unfinished basement at our own pace and cost – it was so easy to do. A huge plus was that we only increased the debt as we spent money on the renovations. We weren’t paying interest on money that hadn’t yet been spent like we would have with a traditional loan. “

“The online banking is very easy to use. We really like the way it’s easy to set up bill payments, track our account history and get accurate information online. This saves a lot of time.

My wife went on mat leave in the second year of our Manulife One account so we had less income for one year but we didn’t notice a thing financially. We were able to use the account to slowly increase our debt while she was off work and, when she went back, we were able to bring our debt load lower again. I am on commission so my income can vary quite a bit from month to month. With Manulife One, this isn’t a problem. Big deposits reduce our mortgage and interest immediately while any increase in debt is only charged when we spend a little more than we make. This is a fantastic plan!”


 

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