Manulife Bank of Canada has given consumers to pay off their debts sooner by enhancing its flexible mortgage account, Manulife one.

Now, once the debt is gone, any positive balance that accumulates in the account will earn a highly competitive interest rate with no minimum balance required.

“Manulife one is designed to help Canadians pay off their mortgage faster by using every dollar they earn to pay off their debt first,” says J. Roman Fedchyshyn, Manulife Bank president and CEO. “Once they’ve reached that goal, it only makes sense that every dollar they earn continues to work for them.”

Under the program announced today, Manulife one customers will qualify for an interest rate equal to Manulife Bank’s premium interest account on every dollar they have as a positive balance. Currently the rate is 2.25%.

First and only flexible mortgage account in Canada.