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. 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. The early termination of a Fixed Rate Account will be subject to an interest penalty. Interest is calculated monthly and compounded semi-annually, not in advance. The Annual Percentage Rate (APR) for Fixed Rate Accounts is set from time to time and is guaranteed for the term selected. Please refer to your Operating Agreement or log in to our secure online banking for additional interest rate information. If you divide your main account into sub-accounts, you’ll choose a fixed or variable interest rate for each individual sub-account. 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. 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. 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. It’s a percentage of your mortgage loan amount. Your mortgage interest rate is the fee your lender charges you to borrow money. Here's what you need to know about borrowing money with a Manulife One mortgage. You’ll have one-time costs as well as ongoing expenses that come with homeownership. ![]() Being approved for a mortgage loan comes with some costs.
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