how much does it earn as savings? — idealist/news
the cycle of casualties interest rates on term deposits has not yet ended in Portugal, although the European Central Bank (ECB) is committed to raising sworn director fees to lower the inflation in the eurozone, which reached 10% in September. And August, the interest rate on term deposits in our country, at 0.07%, it was even the third lowest in the European Union (EU) in August. and what are the interest rates For each bank in Portugal? An offer may vary depending on the deposit term, up to the holder’s age, interest segment and may vary by 0.01%. We explain.
YOU term deposits been the choice of many families to protect As savings. Data from Banco de Portugal (BdP) show that in August the amount of new private deposits was 4,124 million euros, 270 million more than in July (ie +7%). But the truth is that having the deposits deposits in the term does not pay in Portugal. And the BdP data also mirror this reality: in this set of new term deposits, one interest rate average dropped from 0.09% in July to 0.07% in August.
Comparing with other Eurozone countries, a interest rate on deposits in Portugal is one of the lowest of all, as shown by the ECB data.
are the interest rates charged by banks in Portugal?
The average rate in new term deposits was 0.07% in August. And each financial institution practices as its own interest rates on deposits. And, right now, putting money into term deposits yields very little. This is because no bank currently has a need for liquidity, and as the definition of interest rates depends on internal commercial policy, banks will only go up interest rates no term deposits when needed, write the Express.
Looking at the offers of term deposits from five Portuguese banks, it appears that the interest rate initial rate is well below the August average in most institutions – 0.01% in particular. Over the term of the deposit, the interest rate can reach a maximum of 1.00% and a minimum of 0.01%.
It should also be noted that there are banks that do not offer remunerated deposits, as is the case with BPI, consult the same newspaper.