Manulife One

Your all-in-one mortgage
and banking account

Flexible payments and access to your home equity

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:

Manulife Bank Select
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How does Manulife One work?

Let’s look at how Manulife One can help you take control of your finances.

With a Manulife One mortgage, you’ll be able to easily access your home equity when the need arises, say good-bye to inflexible mortgage payments and you could save thousands in interest.

Cartoon man introducing interactive Manulife One video.

Canada's most flexible mortgage is here.
Discover what Manulife One can do for you!

View the interactive video

There's more to a mortgage than the rate

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When you buy a home, mortgage-freedom can often seem like a distant destination. But, what if you could get there faster and save thousands in interest along the way? Here’s how Manulife One can help you reach mortgage-freedom sooner.

How to pay off your mortgage faster - Manulife One from Manulife Bank

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Your home is more than just a place to live. It can provide you with options for retirement. With Manulife One, you can free up cash for whatever you need, tax-free, with a low-interest line of credit secured by the value of your home. Plus, you’ll only pay interest on the money you use, and you can pay it back at any time.

Mortgages in retirement video

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No one knows what interest rates will be like in five years, so putting all your mortgage eggs into one basket is actually risky, as you have to try to time the market and renew your entire mortgage at the same time.

Diversified mortgage terms video

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Benefits of Manulife One

Here's What People are saying about Manulife One

How Nigel and Dalia achieved financial freedom

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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)2 $1.50
ATM withdrawal outside Canada2 $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
For Non-sufficient funds (NSF)
Services Fee
Returned $45
Paid $5 plus overdraft interest
Invalid cheque deposit $7
Overdraft Interest Rate 21%
Annual interest rate. Your interest is calculated on the daily closing balance of the amount that's overdrawn.
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 Foreign funds
Services Fee
Only Canadian and U.S. currency cheques will be accepted for deposit. Cheques must be drawn from an account held at another Canadian financial institution. All other foreign currency deposits will be returned.
To process a cheque written in foreign currency to your Canadian dollar account
(excluding a traveller’s cheque)3
Returned foreign deposit4 $10
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
For Administration
Services Fee
Administration fee for changes to existing accounts which includes but not limited to, Limit Changes, Security Switches, Account holder changes or product to product switches.  $250
Default Administration Fee:

Including but not limited to, Payment of Tax Arrears, Payment Condo Arrears, preparation of documentation for legal proceedings.
Lapse in Impairment Insurance $500 every 3 months

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. Fees are subject to change and provincial regulations.
    Province Discharge Fee
    Alberta and Quebec No Charge
    British Columbia $75
    Manitoba $100
    All Other Provinces $375

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. 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


Manulife One calculator

Understand your mortgage options, based on income, down payment, and home ownership expenses.


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.

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Mortgage life insurance

Like all life insurance, our mortgage life insurance is designed to protect your loved ones. It's an optional life insurance policy you can choose to purchase when you get your mortgage.