2.00% on new deposits to TFSA and RRSP accounts until April 30, 2021 (on deposits made before March 12) | Manulife Bank | Discussion forum

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2.00% on new deposits to TFSA and RRSP accounts until April 30, 2021 (on deposits made before March 12)
January 21, 2021
9:34 pm
Peter
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Forum Posts: 1237
Member Since:
May 15, 2007
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A website user just forwarded me Manulife's current TFSA and RRSP new deposit promo: 2.00% on new deposits made between December 1, 2020 and March 12, 2021. The promo rate is applied until April 30, 2021.

It's also featured on the main banner of the Manulife website: https://www.manulifebank.ca/personal-banking.html

The fine print reads as follows:

2.00% promotional interest is for new deposits to Tax‑Free Advantage Accounts and Registered Advantage Accounts. The promotional interest rate is made up of the regular posted variable annual interest rate of 0.15% and the variable annual promotional rate of 1.85%. Interest is calculated daily and paid monthly from December 1, 2020 to April 30, 2021 on net new deposits to the account received from December 1, 2020 to March 12, 2021 to a maximum of $100,000. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer and rates are as at December 1, 2020 and subject to change without notice.

January 21, 2021
11:37 pm
Loonie
Member
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Forum Posts: 7320
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October 21, 2013
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The most important part of this offer may be the last sentence.

January 22, 2021
6:29 am
hwyc
GTA
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September 30, 2017
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New money since Dec 1, 2020 ? Did we miss this offer until now ? Or has Manulife kept it private until now (with less than 60 days to add new money) ?

January 22, 2021
8:27 pm
AltaRed
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October 27, 2013
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Why would anyone chase this, given the rate post-Apr 30th could be 0.15% and these are registered accounts to begin with? Looks like the biggest bear trap on the planet.

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