With Manulife Bank Select, you get much more than a mortgage. You get flexibility to choose a fixed or variable interest rate, you can actively manage your mortgage by splitting it across several terms, and you also get a high-interest chequing account. Here's how you can get the most out of your Manulife Bank Select account:
 

  • Bank with peace of mind: set up direct deposit to know that your mortgage payments are always covered. To do this, print a void cheque from your online account, then submit the cheque and this direct deposit form to your payroll administrator
  • Pay bills with ease: make bill payments and track all of your expenses within your Manulife Bank Select account. Want to make life even easier? Automate all of your payments with this pre-authorized payment tracker
  • Put your money to work: have money in other chequing or savings accounts? Move that cash into your Manulife Bank Select account so every dollar immediately earns a high interest rate

Keep track of every step with this checklist. Find out more about your account in the Manulife Bank Select Client Guide.

Use your Manulife Bank Select account

It’s easy to get up and running quickly with Manulife Bank Select, but you do need some basic information about access, fees, statements, and portions to get started.

Bank your way

Access your Manulife Bank Select account using our mobile apponline banking, or by calling us at 1-877-765-2265. And of course, use your debit card at any bank machine on THE EXCHANGE® Network.

Two fee options (or ditch the fees altogether!)

With Manulife Bank Select, you can choose a fee option that works for you - or avoid paying most fees by maintaining a $5,000 balance in your account.

Option 1: $16.95 monthly fee ($9.95 monthly fee if you’re over age 60)

The monthly fee covers the following transactions:
 

  • Online, mobile, and telephone banking services
  • Canadian dollar deposits
  • Deposits and withdrawals at eligible ABMs in Canada on THE EXCHANGE® Network 1
  • Purchases made with your debit card in Canada1
  • Bill payments
  • Pre-authorized payments
  • Money transfers between accounts
  • Write cheques in Canadian dollars (you can order cheques through your online bank account for a fee.)

In addition, if you keep a positive balance of $5,000 or more in your Manulife Bank account, we'll waive your monthly fees, as well as the fees for these transactions:
 

  • Transactions at ABMs in Canada that aren't on THE EXCHANGE® Network
  • Purchases made with your debit card outside of Canada1
  • Interac® e-Transfer

 

Option 2: pay per transaction

This option has fees for bill payments and purchases made with your debit card in Canada. However, you do not have to pay for:
 

  • Online, mobile, and telephone banking services
  • Deposits in Canadian dollars
  • Deposits and withdrawals at ABMs in Canada on THE EXCHANGE® Network
  • Pre-authorized payments
  • Money transfers between accounts
  • Cheque writing in Canadian dollars (you can order cheques through your online bank account for a fee.)

The fees will be waived for the following transactions when you keep a positive balance of $5,000 or more in your account:
 

  • Transactions at ABMs in Canada that aren't on THE EXCHANGE® Network
  • Purchases made with your debit card in Canada1
  • Bill payments
  • Interac® e-Transfers

 

Statements

You'll receive annual mortgage statements and monthly chequing account statements electronically or by mail – it’s your choice. If you didn’t choose a statement type when you opened your account, we'll send your statements by mail. You can change your preferred statement type from your online account or by calling us at 1-877-765-2265. Please review your statement each month and call us right away if you notice any errors or discrepancies.

You can also review transactions from the past two years in your online account.

Portions

When you apply for your mortgage and every time you renew, you can decide whether you want to divide your debt into portions. With portions, you can:
 

  • Reduce stress around rising interest rates: lock in a portion of your mortgage at an attractive long-term fixed rate, and keep the rest at a low variable rate to help you pay down your principal more quickly
  • Enjoy a lower effective interest rate: mix shorter-terms (usually lower interest) and longer-term (usually higher interest) mortgages to get a lower effective interest rate. For example, splitting your mortgage equally between a one-year fixed term at 3.00% and a five-year fixed term at 3.40% gives you an effective interest rate of 3.20%, lower than if your entire mortgage were in the five-year fixed term
  • Track part of your mortgage separately: work from home? Keep track of the interest costs for the percentage of your home that you use for your home office2
  • Reduce the risk of renewing at a higher rate: by renewing portions of your mortgage at different times, if one of your renewals happens when rates are relatively high, rates may be lower again by the time the next renewal comes along

Enhance your account

Did you know adding products that complement your Manulife Bank Select account can help provide extra protection and flexibility?

Manulife Bank Select creditor’s group mortgage insurance

Make sure your debt isn’t a top concern following death, disability or job loss. Manulife Bank Select creditor’s group insurance3 can help preserve your family’s financial stability, and we base your premiums on your outstanding account balance. This means that as you pay down your debt, your premiums decrease. Here’s what’s covered:
 

  • Life insurance pays the lesser of the average outstanding month-end balance over the previous 12 months or the outstanding balance on the date of death, to a maximum of $500,000
  • Disability and job loss insurance pays the monthly interest charged to your account the month before the disability or job loss plus the minimum monthly principal payments in any fixed rate sub-accounts, to a maximum of $3,500 – and keeps up the payments for 24 months for a disability and six months for a job loss

Learn more in the Manulife Bank Select creditor’s group insurance brochure and distribution guide.

To apply, call 1-866-388-7095. Try it out for up to 60 days and, if you decide to cancel, we’ll refund your premiums.

ManulifeMONEY+™ Visa* credit cards

Earn cash back rewards on every purchase4 with one of two ManulifeMONEY+TM Visa credit cards:

Choose the card that best meets your needs:
 

To apply, call 1-844-859-4516.

Renew your mortgage

You’ve come a long way since you opened your Manulife Bank Select mortgage – now it’s time to picture where you’ll be at the end of your next term. About 90 days before your mortgage matures, we’ll mail you a renewal package explaining your renewal options. As you review the choices, think about what’s most important to you:

For short-term flexibility – which you may need if you’re planning to move to a new home or expect your income level to change – consider a shorter term:
 

  • Fixed: 1-year open
  • Fixed: 1-year closed
  • Fixed: 2-year closed
  • Fixed: 3-year closed

For long-term predictability – if you plan to stick to a disciplined payment schedule over several years – consider a longer term:
 

  • Fixed: 3-year closed
  • Fixed: 4-year closed
  • Fixed: 5-year closed
  • Fixed: 7-year closed
  • Fixed: 10-year closed

Whatever you choose, your new term gives you lots of flexibility with competitive prepayment privileges, low prepayment penalties and portability so you can take your mortgage with you if you move.

See our current rates

Ready to renew?

Here's how:

 

  • Tap “More” on the bottom navigation bar
  • Tap “Services & Fees”
  • Tap “Renew your mortgage or sub-account”
  • Update your contact information if necessary
  • Select the account to renew (if you have more than one)
  • Select the new mortgage type and term
  • Consent to the terms and conditions
  • Tap “Submit”

Your new term sub-account will appear in your account details one business day after the renewal date.

Call 1-855-682-5979, ext. 143406 or email mortgagerenewal@manulife.com.

FAQ

Your Manulife Bank Select operating agreement shows your initial mortgage balance. You can see your current mortgage balance using online, mobile or telephone banking. Your annual mortgage statement, provided to you every January, also includes your year-end mortgage balance.

Your Manulife Bank Select operating agreement shows your monthly mortgage payment details, including the amount and due date.

Your monthly mortgage payment automatically comes out of your Manulife Bank Select chequing account or an account in your name at another Canadian bank or credit union. If you have split your mortgage into portions, payments for each portion will be scheduled and withdrawn separately. Keep in mind that you can change your payment frequency anytime to better suit your cash flow needs – simply call 1-877-765-2265.