2023-2024 Tax-Free and Registered Advantage Account Offer - 5.50% | Manulife Bank | Discussion forum

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2023-2024 Tax-Free and Registered Advantage Account Offer - 5.50%
December 7, 2023
8:53 am
hwyc
GTA
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Forum Posts: 1155
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September 30, 2017
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5.50% 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 2.10% and the variable annual promotional rate of 3.40%. Interest is calculated daily and paid monthly from December 1, 2023 to April 30, 2024 on net new deposits to the account received from December 1, 2023 to March 15, 2024 to a maximum of $250,000. 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, 2023 and subject to change without notice. See the full Terms and Conditions for more information.

Currently 5.50% from 2.10% regular + 3.40% promo

December 7, 2023
8:49 pm
RetirEd
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November 18, 2017
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hwyc:

Any change to the regular interest rate will result in a corresponding change to the promotional interest rate.

This sounds like they are saying that, if the regular rates fall, the promotional rates will increase to keep the total interest constant.

Is that so?

RetirEd

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