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Email this9:30 am
January 29, 2018
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There's a decent promo at Manulife. 2,4% until Mai.
9:45 am
February 24, 2015
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I am hesitant to invest in an FI that cannot do basic arithmetic or put a logical sentence together. Can someone please explain where 2.30% came from:
Manulife Bank’s exclusive personal Advantage Account interest offer, which is currently 2.40% (“Promotional Interest”) is made up of the regular posted variable annual interest rate of 1.25% (“Regular Rate”) and the annual promotional rate of 1.15% (“Promotional Rate”). Any change to the Regular Rate will result in a corresponding change to the Promotional Interest. For example, if the Regular Rate of 1.25% were to decrease to 1.15%, the Promotional Interest would decrease to 2.30%.
9:47 am
December 17, 2016
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Opening a bank account is NOT straight forward - from their website
Opening a bank account
To open either of these accounts, simply contact your financial advisor. If you don't have a financial advisor, we can help you get the professional advice you need to make well-informed choices about your financial future. Find a financial advisor.
We believe that financial decisions should be made with the help and insight of a trusted advisor. That's why Manulife Bank offers its products and services through financial advisors – and has been doing so since 1993. We help provide clients with the banking products that will put their wealth creation and debt-management plans into action.
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I don't have a financial advisor BUT if I did, and he thought I should chase a time-limited promo offer, he wouldn't be my financial advisor after giving me that advice.
12:08 pm
November 5, 2015
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2of3aintbad said
I am hesitant to invest in an FI that cannot do basic arithmetic or put a logical sentence together. Can someone please explain where 2.30% came from:Manulife Bank’s exclusive personal Advantage Account interest offer, which is currently 2.40% (“Promotional Interest”) is made up of the regular posted variable annual interest rate of 1.25% (“Regular Rate”) and the annual promotional rate of 1.15% (“Promotional Rate”). Any change to the Regular Rate will result in a corresponding change to the Promotional Interest. For example, if the Regular Rate of 1.25% were to decrease to 1.15%, the Promotional Interest would decrease to 2.30%.
From what I understand is that the new promo 2.30% rate would come from subtracting .10 % change from 2.40% current promo rate. Does that make sense?
12:15 pm
October 21, 2013
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Any "bank" that makes you link up with one of their "financial advisors" in order to open up a bank account has bigger intentions on your portfolio than is revealed above. Personally, I wouldn't touch this, even if it were 3%!
See previous posts by kanaka re: this bank.
1:47 pm
September 11, 2013
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"Any change to the Regular Rate will result in a corresponding change to the Promotional Interest". So, yes, if the regular rate goes down by .1% so does the promo rate.
5:05 pm
February 24, 2015
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Taxpayer717 said
From what I understand is that the new promo 2.30% rate would come from subtracting .10 % change from 2.40% current promo rate. Does that make sense?
Yes, I read it again. It is the use of the word "Promotional" in 2 different contexts that confused me. If it said, "Variable regular rate" plus "fixed promotional rate 1.15%" for a "Variable total rate", I would understand. I guess I don't speak English real good. Or maybe I speak English good, but not Bank Promo so good. Fortunately, I can make an appointment with a financial advisor who will explain this to me, and point out how much better I would be to turn over my money to him to invest in real good high MER funds, instead of the advertised offer that only special people can get.
5:33 pm
February 24, 2015
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Bill said
"Any change to the Regular Rate will result in a corresponding change to the Promotional Interest". So, yes, if the regular rate goes down by .1% so does the promo rate.
The promo rate doesn't go down, only the 'Promotional Interest'. Just when I thought I had it figured out ...
6:15 pm
September 11, 2013
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2of3 and Taxpayer, you are correct, sloppy reading on my part - ignore what I said!
6:49 pm
February 24, 2015
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Bill said
2of3 and Taxpayer, you are correct, sloppy reading on my part - ignore what I said!
Bill, I was trying to point out the confusing use of the term "Promotional" in 2 different phrases. No need to ignore, your comment just confirms what I was trying to say.
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