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Does anyone have experience with MCAN Mortgage Corp?
November 30, 2017
10:26 am
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Hello, I came across MCAN Mortgage Corp (http://mcanmortgage.com) for the first time today.

They offer mortgages and (of relevance to this forum) GICs ranging from 1-5 years. They are based in Toronto, and term deposits are CDIC eligible.

IMO, their rates are competitive, with a 5-year GIC at 2.8% (less than $25k) and 2.9% (more than $25k). All interest is compounded annually.

I was wondering if any of you had experience with this company, or know anything about them that might be helpful?

Thank you

May 27, 2020
6:08 pm
Bud
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MCAN welcomes term deposit applications directly from individuals for registered and non-registered products

2%@3yrs

September 4, 2021
11:50 am
co
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I just came across them today too through my investment broker.

MCAN Mortgage Corp 1 Year 1.25%

Not too shabby. Seems to be CDIC insured. Any catches? Can an individual deal with them directly or do they always require a broker? What is the difference?

September 4, 2021
12:24 pm
Norman1
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One can contact them and ask. Their phone and e-mail are on their Term Deposits FAQ page.

MCAN will need to confirm identity, as required by anti-money laundering laws. That could be a challenge to dealing with them directly if one can't visit their office in Toronto and they can see that the photo ID and the applicant match.

Current one year rates:

Term (years) $5,000-$24,999 $25,000-$99,999 $100,000+
1 1.20% 1.25% 1.30%
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