Quote:
Originally Posted by Ronald Pagan
More information please.
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Apparently, for years the rate charged was Manulife's prime rate. But if you actually looked at your contract is was called a "target rate". Last month the website said that rate was tied to prime.
Suddenly this month, Manulife prime is 4% but the "target rate" is 4.5%. And Manulife's website has changed to remove the "tied to prime" reference. Additionally, the satisfaction guarantee of $500 will only be received after you show proof you have reverted back to the same product you had before you went to Manulife. There is also apparently a $14/month fee.
So from what I have read, it sounds like the product recently changed, and people were surprised about the results, with many of them feeling they were misled.