^* 3.10% promotional interest rate is for net new deposits to Canadian-dollar Business Advantage Accounts. The promotional interest rate is made up of the regular posted variable annual interest rate of 1.55% and the variable annual promotional rate of 1.55%. The promotional interest rate is calculated daily and paid monthly on net new deposits to a maximum of $2,000,000. For new accounts opened between October 21, 2026 and January 8, 2027, interest will be calculated beginning on the date the account is opened and continuing 730 days (2 years). For existing accounts, interest will be calculated from October 21, 2026 to October 20, 2028. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer is limited to one account per business client and cannot be combined with other offers. The offer and rates are as of November 2, 2026 and subject to change without notice. See full Terms and Conditions for new clients and for existing clients respectively for details.

moneyhelp said
Has anyone opened this account? If so, does anyone know if you want to withdraw before the 2 years, is there any kind of early withdraw penalty? I would imagine not, considering it's a savings account, but wondering if anyone is aware. Cheers.  

It is a Savings Account. I moved all my savings there when I opened an account in July and removed all my funds in October when I received a 4.75% promo offer from Tangerine.

There is one little nuance to removing all of your funds. If your balance is below $1,000 when you do an Interac etransfer or a bill payment you will incur a $1.00 service charge. However if you reduce your balance to say $1,100 then you can empty your account without incurring the $1.00 fee, by transferring funds by EFT, either initiated on Manulife's platform or from an external institution (I used Wealthsimple) as Tangerine seems to prohibit creating a link to Manulife (or at least at a minimum they make you jump through some hoops that I have no interest in jumping through).

Manulife's EFT functionality is quite sturdy. I have done many EFTs initiated on their platform. You have to set them up a business day in advance or on a weekend for a Monday EFT transfer. However, the credits to RBC and Tangerine are posted in a timely fashion on their value date. At RBC the funds are credited by 3:15 pm ET

Jim Sherat said

I liked JohnnyCash idea [108] as I too opened ours in July; but for me, I plan to just live with the 3 mth diff at the end of the 2yr "promo" period. …

It would be risky to close the account and open another later within the Offer Period. Manulife Bank may consider the Advantage account opened earlier, in July, to be the one Eligible Account for the offer, even if the account is no longer open.

The regular rate on the Advantage account is not tied to GIC rates, Bank of Canada rate, or Manulife Bank's 4.45% prime rate. The rate will change depending on Manulife Bank's need for short term funds. I suspect the 3% promotion will attract lots of funds and the bank won't have reason to increase the rate on the account.

Manulife Bank posts funds transfers into the Advantage account the day the transfer is scheduled. Yes, sometimes a hold is not applied to funds pulled in.

I liked JohnnyCash idea [108] as I too opened ours in July; but for me, I plan to just live with the 3 mth diff at the end of the 2yr "promo" period. Maybe that date will get extended too ?
And what are the chances with GIC rates going up often, almost everywhere, the BofC will raise their benchmark rate soon, and that 3.00% will go up in lockstep ? Thoughts on this ?

To open a new Advantage account to take advantage of the 3% interest rate for 2 years, I suppose I will need to unfreeze my credit with both agencies first?

https://onboarding.manulifeban.....initiation

NokomisStation said

The Offer is limited to one Eligible Account per Eligible Account Owner as determined by the primary account owner.

Nice try John Boy. Can you imagine the Walton family trying to the game the system. So much for selective logging practices. Let's clear cut the forests Grampa Walton! These new chainsaws are awesome.  

Yes, I noticed the " one Eligible Account per Eligible Account Owner ". What you seem to be missing is I stated I would close the current account, then I would open another one afterwards which should meet the eligibility requirement stating only one account for the 3% 2 year promo.

JohnnyCash said

Interesting, but not surprising that they extended the offer period. I opened an account late July, maybe i can close my current one and open another around the end of October to have two full years from then.  

The Offer is limited to one Eligible Account per Eligible Account Owner as determined by the primary account owner.

Nice try John Boy. Can you imagine the Walton family trying to the game the system. So much for selective logging practices. Let's clear cut the forests Grampa Walton! These new chainsaws are awesome.

maGIC said
I just logged in to add an account and noticed the end date is now October 30, 2026. I will not likely need this account until December, so I will wait until around Oct 29th to add one for myself unless it is extended again.  

Interesting, but not surprising that they extended the offer period. I opened an account late July, maybe i can close my current one and open another around the end of October to have two full years from then.