Manulife One

Your all-in-one mortgage
and banking account

Manulife One is an all-in-one readvanceable mortgage and banking product that lets you combine your mortgage with your bank accounts, short-term savings, income, and other debts. 

With Manulife One, you can:

  • Easily increase or decrease mortgage payments
  • Access your home equity when you need it
  • Reduce your interest costs and become debt-free sooner

See how much you could save with our Manulife One calculator.

Is Manulife One right for you?

Yes, if you:

  • Want to refinance or transfer in your mortgage and have at least 20% equity
  • Are buying a new home and have a down payment of 20% or more
  • Want to simplify your finances with an all-in-one mortgage and banking account
  • Prefer a flexible alternative to a traditional mortgage

If you prefer a more traditional mortgage option, check out:

Mortgages for investment properties

For owner-occupied investment properties, Manulife One is available across Canada, excluding the territories. For non-owner occupied investment properties, Manulife One is available in the following communities:

Eligible communities
West Ontario Quebec Est
Abbotsford–Mission Barrie Alma Bathurst
Chilliwack Belleville Baie-Comeau Cape Breton (Sydney)
Courtenay Bracebridge Drummondville Charlottetown
Cranbrook Brantford Granby Fredericton
Kamloops Brockville Joliette Halifax
Kelowna Centre Wellington Montreal Moncton
Nanaimo Chatham-Kent Quebec New Glasgow
North Cowichan Cobourg Rimouski Saint John
Parksville Collingwood Riviere-du-loup St. John's
Penticton Cornwall Rouyn-Noranda Summerside
Prince George Gravenhurst Saguenay Truro
Prince Rupert Guelph Saint-George  
Salmon Arm Hamilton Saint-Hyacinthe  
Squamish Huntsville Saint-Jean-sur-Richelieu  
Terrace Kawartha Lakes Salaberry-de-Valleyfield  
Vancouver Kenora Sept-Iles  
Vernon Kingston Shawinigan  
Victoria Kitchener/Waterloo/Cambridge Sherbrooke  
Williams Lake Leamington Sorel-Tracy  
  London Thetford Mines  
Edmonton Midland Trois-Rivieres  
Fort McMurray Norfolk (Simcoe-Nanticoke) Val-d'Or  
Red Deer North Bay Victoriaville  
Calgary Orillia    
Gran Prairie Oshawa    
Lethbridge Ottawa-Gatineau    
Medicine Hat Pembroke    
Prince Albert Peterborough    
Regina Port Hope    
Saskatoon Sarnia    
  Sault Ste. Marie    
Brandon St. Catherines - Niagara    
Selkirk Startford    
Steinbach Sudbury    
Winnipeg Thunder Bay    

Manulife One offers you an all-in-one mortgage and banking account with competitive interest rates and account fees.

Manulife One
Base Rate
Interest Rate
for positive balances


*Annual Percentage Rate. See "Cost of borrowing" for more information.
For the main account interest is calculated on the daily closing balance and posted to your account monthly. When the main account is in a positive balance, interest is compounded monthly, not in advance.
For a fixed rate sub-account interest is compounded semi-annually, not in advance.
For a variable rate sub-account interest is compounded monthly, not in advance. Variable rates change with Manulife One Base Rate and is subject to change without notice.


Unlimited Daily Banking fee of $16.95 ($9.95 if you're 60 years or older).

The Unlimited Daily Banking fee will be waived when there’s a total positive balance of $5,000 or more across the account at the end of each month.

For Withdrawals
Services Fee
ATM withdrawal in Canada (without THE EXCHANGE Network) $1.50
ATM withdrawal outside Canada 2 $3
Debit card direct payment (outside Canada) $1
For Transfers
Services Fee
Manulife Bank initiated $5
Incoming wire transfers $15
Sending wire transfers
$10,001 to $50,000 $50
> $50,000 $65
For Duplicate Monthly Statements
Services Fee
Within the last year $5
Older than one year $10
Non-sufficient funds (NSF) Fee
Returned $45
Paid $5 plus overdraft interest
Invalid cheque deposit $7
For Cheques and Couriers
Services Fee
Official cheque
(instead of a certified cheque)
Outgoing cheque collection $50
Stop payments $10
Non-magnetic ink character recognition encoded cheque 
Standard courier/mailing charges for 
rushed debit cards, personal identification numbers (PIN) and statements etc.
For searches
Services Fee
Item processed within the last 90 days
(includes a photocopy)
Item processed longer than 90 days ago $35/hour
minimum fee $15
Detailed recap of account transactions $35/hour
minimum fee $15
Audit confirmation or confirmation of account letter $35/hour
minimum fee $15
Bill payment tracing, investigation, or refund $15

Borrowing money to buy a home is exciting, but it’s not free. Being approved for a mortgage loan comes with some costs. You’ll have one-time costs as well as ongoing expenses that come with homeownership. Here's what you need to know about borrowing money with a Manulife One mortgage.

Interest rate
Your mortgage interest rate is the fee your lender charges you to borrow money. It’s a percentage of your mortgage loan amount. Here’s an example: if you borrow $100,000 and your lender charges an interest rate of 5%, you’ll pay $5,000 per year in interest.

Interest rates for Manulife One

The Manulife One Base Rate is a variable interest rate used to determine the rate applicable to your Manulife One Main Account and any Variable-Rate Sub-Accounts. Refer to your Operating Agreement or log into your account for additional information on the interest rate specific to your account. The Manulife One Base Rate is set independently of Manulife Bank’s Prime lending rate and may change without notice.

If you divide your main account into sub-accounts, you’ll choose a fixed or variable interest rate for each individual sub-account. Please refer to your Operating Agreement or log in to our secure online banking for additional interest rate information.

The Annual Percentage Rate (APR) for Fixed Rate Accounts is set from time to time and is guaranteed for the term selected. Interest is calculated monthly and compounded semi-annually, not in advance. The early termination of a Fixed Rate Account will be subject to an interest penalty. APR is the total cost of borrowing provided as an annual percentage, which includes our current interest rate and charges such as appraisal costs and legal fees. As there are no charges applicable to set up a Fixed Rate Account under a Manulife One account, the APR is as stated above which is our current interest rate.

First and second-position mortgages

The current Manulife One interest rate is available on first-position accounts and as an introductory rate for second-position Manulife One accounts. If your first position mortgage renews and you keep your Manulife One account in second position:

  • Your maximum borrowing limit will not increase
  • A higher interest rate will be charged

Interest calculations

The interest for positive balances and variable rate sub-accounts is compounded monthly. For fixed rate sub-accounts, interest is compounded semi-annually. However, it doesn’t really compound because the interest must be paid off each month. To do an apples-to-apples comparison of effective interest rates, you should add about 0.10% to 0.15% (10 to 15 Basis Points or BPS) to the posted Manulife One rates. For example, 8% compounded semi-annually, not in advance would have an effective rate of 8.16% at year-end, whereas, 8% compounded monthly, not in advance, would have an effective rate of 8.30% - a difference of 0.14% (or 14 BPS).

Credited Rate

A credited rate is interest you earn on the positive balance in your main Manulife One account. It’s calculated on your daily closing balance and paid to you each month. The credited interest rate is variable, it’s not guaranteed and can change at any time.

One-time costs you’ll have with Manulife One

  • Legal fees: You are responsible for paying the legal fees associated with setting up your mortgage. Specific legal fees relating to individual home purchases vary by transaction and depend on individual circumstances and on the lawyer’s fee.
  • Discharge fee: Upon discharge of a mortgage associated with a Manulife One account, a discharge preparation fee applies. It is subject to change. As of May 14, 2017, our discharge fee is $375. It is subject to change.

Client guide

General terms

Conventional (standard) mortgages and collateral mortgages

All mortgage loans are secured by real property (such as your house), and that security is recorded in the appropriate provincial or territorial registry office. Some provinces refer to this as the registration of an encumbrance or a "charge" (or “hypothec” in Quebec). There are two types of charges that may be registered: conventional (also known as "standard") or collateral.

Manulife One and Manulife Bank Select are registered as collateral charges, while our Preferred Rate Mortgage is registered as a conventional (standard) charge. Learn more about the similarities and differences between collateral and conventional (standard) charges here or on the Canadian Bankers Association website.

The Financial Consumer Agency of Canada (FCAC)

The FCAC is an independent government body that oversees the conduct of federally regulated financial entities to ensure they comply with federal legislation and regulations. They also provide consumers with information relating to their rights and responsibilities in their dealings with Canadian financial institutions. For general mortgage information from the FCAC, visit their site

Making a payment to your Manulife One account is easy. All you need to do is deposit money into your account. We encourage you to deposit your income into your Manulife One account so each time you get paid you automatically reduce your interest costs. Here are some other ways you can deposit money into your account:

Interest in your Main account is calculated on your daily closing balance and debited from or credited to your account on the last business day of the month. It takes into account all deposits and withdrawals you made. If your account has a negative balance, you'll be charged interest. If your account has a positive balance, we'll pay you interest.

Manulife One gives you the flexibility to divide your debt between sub-accounts so you can track portions of it separately. There are two types of sub-accounts:

Tracking sub-accounts: Have the same variable rate as your main account. They offer interest only or principal and interest payment options.

Term sub-accounts: Have a fixed or variable interest rate and a specific amortization period. They offer predictable monthly principal and interest payments - much like a traditional mortgage.