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Add Manulife Bank to the GIC comparison chart and profile page
May 14, 2020
8:01 pm
Doug
British Columbia, Canada
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Forum Posts: 3657
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December 12, 2009
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We already have a forum and a profile page for Manulife Bank, but I do think we should be adding Manulife Bank to the GIC comparison chart as their GIC rates have consistently been in the bottom to lower middle tier of financial institution GIC rates for the past year. As well, for Manulife Bank GICs, GICs can be booked online or by telephone with a contact centre agent. Manulife Trust GICs are still only limited to those booked through an advisor or held in book-entry nominee form, so I wouldn't support adding Manulife Trust; however, in fairness, we really should add Manulife Bank.

Current GIC rates page: https://www.manulifebank.ca/current-rates.html

On all except the 1 year GIC, that is the 2-5 year GICs, they aren't even the lowest in terms of rates. And, their deposits are rated very highly, so users may want to exceed their CDIC deposit insurance limits as they are comparable to a Big 5 bank.

Cheers,
Doug

May 14, 2020
8:26 pm
cruzinalong
Ontario
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Forum Posts: 223
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April 15, 2020
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Doug said
We already have a forum and a profile page for Manulife Bank, but I do think we should be adding Manulife Bank to the GIC comparison chart as their GIC rates have consistently been in the bottom to lower middle tier of financial institution GIC rates for the past year. As well, for Manulife Bank GICs, GICs can be booked online or by telephone with a contact centre agent. Manulife Trust GICs are still only limited to those booked through an advisor or held in book-entry nominee form, so I wouldn't support adding Manulife Trust; however, in fairness, we really should add Manulife Bank.

Current GIC rates page: https://www.manulifebank.ca/current-rates.html

On all except the 1 year GIC, that is the 2-5 year GICs, they aren't even the lowest in terms of rates. And, their deposits are rated very highly, so users may want to exceed their CDIC deposit insurance limits as they are comparable to a Big 5 bank.

Cheers,
Doug  

Once upon a time I purchased RRSP GICS at a trust company. The CDIC limit was $60,000 then. When I hit $50,000 I started moving out of that FI. There was no transfer fee then. Fill in a T2033 and move you money elsewhere. I had two trust companies that went defunct. I got my money out thanks to CDIC. There are so many FI I would keep the amount less than the $100,000. You can exceed the limit if you spread the money in spousal, RRSP, TFSA, RESP and non-registered accounts. Everything depends on your priorities.

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