Manulife One - What it is and how it can Save you Money

Manulife One is an all-in-one account that is different from any other account you've heard about. And the differences could save you thousands of dollars.

Integrated banking

Instead of having a separate mortgage, chequing account, savings account, line of credit, and assorted banking products all at different interest rates and all with different fees you have one simple "chequing and borrowing" account.

How it works

All of your debt is consolidated at one low rate of interest, which means, immediately, you could start saving on interest costs. Next, any of your short-term savings (chequing and savings accounts balances even your income) are deposited into the account to reduce your debt. Again, saving you interest.

Then, you simply use the account as you would any regular chequing account, with a debit card, cheques, pre-authorized withdrawals, and so on. Now, every time you get paid your income immediately lowers your debt and continues to save you interest until you need to use your money for something else.