Manulife Personal Advantage Account Interest Offer - Fall 2025 | Page 3 | Manulife Bank | Discussion forum

It isn't much programming effort for them. For calculating the "Net New Deposits" of each day, Manulife Bank ignores any deposits that are transfers from another Manulife Bank account. To not pay promotional interest on regular interest, they just need to also ignore any deposits for the regular interest.

Tangerine Bank did something similar in one of their promotions.

Manulife Bank has reduced the regular rate on its Advantage account from 1¾% to 1½%. That reduces the rate on this September 10 to November 21 promotion:

^* 4.50% promotional rate is for new deposits to a new personal, non-registered, Canadian-dollar Advantage Account. The promotional interest rate is made up of the regular posted annual variable interest rate of 1.50% and the variable annual promotional rate of 3.00%. Interest is calculated daily and paid monthly beginning on the date the account is opened and continuing 120 days (4 months) on net new deposits to a maximum of $500,000. 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 client and cannot be combined with other offers. The offer and rates are as of November 3, 2025 and subject to change without notice. Click here for full terms and conditions.

If one sets up an Advantage account at Manulife, it is straightforward to create a link to one's big five bank. Then easy to transfer funds in. I think the max is 50K per day, but I also think you can phone in, and have larger transfer done that way.

I have never had occasion for a bank draft-- you could transfer the funds back to your big bank. Or you get checks for your advantage account, and do a mobile check app desposit, although I expect your funds would be on hold that way.

And, for myself, I have not been concerned about going over the CDIC, but that is a personal thing, of course.

willpower said
Good evening everyone!

I recently sold my house and currently hold a large sum of money at one of the "big five banks" at a promotional rate. This promotion will end soon and I'm therefore considering moving this money. I never had an account with Manulife Bank and their promotional rate is attractive. That being said, I have some concerns:
1. Manulife Bank does not have any physical branch. What would be the best and safest way to transfer money from my account to Manulife Bank? (Bank draft deposited via their app ?)
2. I am currently looking at a new properties and could possibly decide to buy a new house in the near future.

Thank you in advance for your advice/feedback.

Willpower  

If the house you sold was in Toronto you might have sold at the peak of the market. The word on the street is that house prices in Toronto have softened recently.

The 3% boost of this Manulife Bank offer is for first $500,000 of new funds.

This one offer may not be enough for the entire sale proceeds of a house in Toronto!

Lodown said

Norman1 said
The 3% boost of this Manulife Bank offer is for first $500,000 of new funds.

How does the $500k limit work? Let's say a person opens a new account and transfers in $500k but then pays bills and make withdrawals. Later they top up funds in the account to 500k once again. WIll they get 4.5% on the new amount of 500k?  

It's always been my understanding using your example that the answer to your question is no.

I reached out to Manulife Bank to inquire about my options to transfer my money and they provided different ways to do it. One of the option was to deposit my Bank draft using a deposit slips at an RBC branch.

Excuse my ignorance but...
What do they mean by a deposit slips ?
Where do I get one ? (Do I just show up at RBC with my bank draft ?)

Thank you!

Norman1 said
The 3% boost of this Manulife Bank offer is for first $500,000 of new funds.

This one offer may not be enough for the entire sale proceeds of a house in Toronto!  

Also, if one puts in 500k of new funds, one should pull out the Interest paid monthly as it would drive the "Deposit Balance" to exceed 500k....or is "interest" exempt as it is not a "new deposit"?

Norman1 said
Withdrawals are not going to be of the interest.

The fine print says "Any withdrawals from the Eligible Account during the Promotional Period will be subtracted from the Eligible Deposit balance." Withdrawals will effectively be of Net New Deposits.  

So once the balance goes over $500k due to Promotional Interest being added into the account, additional Promotional Interest will not be paid on the account balance in excess of $500k?

Extra interest (the extra 3%) part of the Promotional Interest is paid on a certain part of the Advantage account balance and not the entire balance.

For sure, no extra interest paid on more than $500,000 of new funds one deposits. Definitely, no extra interest paid on the regular 1.5% interest credited regardless.

Not sure if extra interest would be or would not be paid on extra interest earned during the 120 day Promotional Period when total previous extra interest and new funds deposited crosses the $500,000 limit.

I can confirm that extra interest is paid on previous extra interest when the total (extra interest and new funds) is under the limit.

I was suprised extra interest is paid on prevous extra interest. Both previous regular interest and previous extra interest are not Net New Deposits:

… Subject to the limits and qualifications outlined in these terms and conditions, Manulife Bank will pay the Promotional Interest on Net New Deposits made during the Promotional Period, up to a cumulative total of $500,000 (“Eligible Deposits”) into your Eligible Account during the Promotional Period. … Net New Deposits are funds from an external source and cannot be transferred from an existing Manulife Bank account. …