Does anyone have experience with MCAN Mortgage Corp? | GIC discussions | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Does anyone have experience with MCAN Mortgage Corp?
November 30, 2017
10:26 am
--- deleted ---
Member
Members
Forum Posts: 38
Member Since:
November 29, 2017
sp_UserOfflineSmall Offline
Go to Top
1sp_EditHistory sp_Permalink sp_Print

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
Member
Banned
Forum Posts: 1375
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline
Go to Top
2sp_EditHistory sp_Permalink sp_Print

MCAN welcomes term deposit applications directly from individuals for registered and non-registered products

2%@3yrs

September 4, 2021
11:50 am
co
Member
Members
Forum Posts: 71
Member Since:
August 6, 2018
sp_UserOfflineSmall Offline
Go to Top
3sp_Permalink sp_Print

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
Member
Members
Forum Posts: 6768
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
4sp_Permalink sp_Print

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%
No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.