Term Deposits

Rates are annual fixed rates which apply to both registered and non-registered term deposits. Interest will accrue from the issue date to the maturity date. Interest (non-compounding) is paid at maturity for short term deposits. For long term investments, interest options are annual payment or annual compound.

All term deposits are non-redeemable prior to maturity. There are no fees to purchase a term deposit with MCAN.  For agent transfer or re-registration, a fee of $25 is required per transaction.

The terms and conditions of our products are provided below and with our deposit confirmation. Please contact us at 1-800-387-9096 or .(JavaScript must be enabled to view this email address) for any questions.

MCAN Mortgage Corporation term deposits are eligible for Canada Deposit Insurance Corporation (CDIC) deposit insurance coverage. Rates are current as of the date shown below and are subject to change without notice.

 

 

.

Short Term Deposit Rates

Effective Date: November 14, 2017
Interest options: payment at maturity only

Term (days)$10,000-$24,999$25,000-$99,999$100,000+
30-590.10%0.20%0.30%
60-890.10%0.20%0.30%
90-1190.50%0.60%0.70%
120-1790.50%0.60%0.70%
180-2690.70%0.80%0.90%
270-3640.90%1.00%1.10%

Long Term Deposit Rates

Effective Date: November 14, 2017
Interest options: annual payment or annual compound

Term (years)$5,000-$24,999$25,000-$99,999$100,000+
11.80%1.90%1.90%
1 1/21.80%1.90%1.90%
22.30%2.40%2.40%
2 1/22.30%2.40%2.40%
32.50%2.60%2.60%
3 1/22.50%2.60%2.60%
42.60%2.70%2.70%
4 1/22.60%2.70%2.70%
52.75%2.85%2.85%