By combining your deposits and your borrowings into one account, you automatically use your savings and income to reduce your debts, potentially saving more in interest costs than you'd likely make in interest earnings.
- You could save thousands in interest
- You could be debt-free sooner
- You could simplify your banking
- No monthly fees for the first 6 months; low monthly fee of $16.95 thereafter
Most Canadians manage their finances by doing two things:
- Depositing their income and other short-term assets into chequing and savings accounts.
- Borrowing when they need to, through mortgages, lines of credit, personal loans and credit cards.
Sounds simple enough. Unfortunately, they usually receive low or no interest on the money they deposit, while they may pay higher interest on the money they borrow.
Wouldn’t it make more sense if the deposits and borrowings were combined? Your earnings could go to paying down your debts until you need to use that money.
Manulife One does just that – and more. It brings your mortgage, savings and income together into one multi-purpose “borrowing and chequing” account.
You must be a Canadian resident under age 65. You must also fall under one of the following:
- Members of the 12 provincial and territorial engineering licensing associations, including members in training. Also, student engineers who are members of a student section (in those associations where a student section exists) and who are within 24 months of expected graduation from a program accredited by the Canadian Engineering Accreditation Board.
- Members of the 8 participating provincial associations of technicians and technologists.
- Members of l'Ordre des Géologues du Québec.
- Members of Geoscientists Nova Scotia.
- Members of the Association of Professional Geoscientists of Ontario.
- Members of l'Ordre des architectes du Québec.
- Members of the Manitoba Association of Architects.
- Members of the Newfoundland and Labrador Association of Architects.
- Members of the Architects' Association of New Brunswick.
- Members of the Nova Scotia Association of Architects.
- Members of the Ontario Society of Professional Engineers.
- Members of the Architects Association of Prince Edward Island.
- A full-time employee of Engineers Canada, or of one of Engineers Canada provincial/territorial constituent associations, or of one of the participating organizations, or of Youth Science Foundation Canada.
- Limited licensees.
As an engineering professional, you'll pay no monthly account administration fee for the first six months after your Manulife One account is opened. Then, you'll pay a low monthly fee of $16.95 thereafter.
This special offer has been negotiated for engineering professionals by Engineers Canada, and is a great way to pay off your mortgage years sooner, potentially saving you thousands of dollars.