Latest news and stories about savings in finance in Portugal for expats and residents.
The government is launching a new series of Treasury Certificates (Certificados do Tesouro) to attract family savings with a fixed interest rate. The new 10-year product, known as Series 5, offers an initial interest rate of 2.35% and requires a minimum subscription of 1,000 euros. This initiative aims to provide a secure investment option for savers while the state manages public debt in a volatile financial market.
The Governor of the Banco de Portugal (Banco de Portugal or BdP), Álvaro Santos Pereira, has expressed support for an interest rate increase at the next European Central Bank (Banco Central Europeu or ECB) meeting in June. Citing the need to act quickly against potential inflationary spirals, the governor noted that while the economy remains resilient, inflation remains a primary concern.
Mário José Gomes de Freitas Centeno (born 1966) is Portugal's central bank governor and one of the country's most internationally recognized economic figures. As Finance Minister under António Costa's first PS government, he became known as "Cristiano Ronaldo of European finance" for turning Portugal's deficit into a surplus while reversing austerity.
He was elected president of the Eurogroup (the informal body of euro area finance ministers) in 2018 — the first Portuguese to hold the role. Since becoming Governor of Banco de Portugal in 2020, he sits on the ECB's Governing Council and oversees Portuguese banking supervision and financial stability.
The European Central Bank (Banco Central Europeu or BCE) is the central institution for the 20 European Union countries that use the euro. It manages monetary policy, sets key interest rates, and maintains price stability across the eurozone.
Investment in savings certificates (Certificados de Aforro or CA) reached a record 41.7 billion euros in April, according to the latest data from the Bank of Portugal. This represents a 12.6% increase compared to the same period last year, marking the highest level since the series began in 1998.
Correio da Manhã reports households have increased purchases of savings certificates, putting roughly €13 million extra per day into Certificados de Aforro (savings certificates) at the start of the year. The trend suggests households are favouring state-backed savings instruments amid economic uncertainty; savers should check product terms and tax rules. Those considering these instruments may want to compare yields and maturity options before investing.
Savings certificates (Certificados de Aforro) are state-backed retail bonds sold to households through banks and post offices, with interest set by a government formula that can change over time. In early 2026 Portuguese families were buying about €13 million per day of these certificates, so savers should compare the current rate and withdrawal rules with other options before investing.
The Portuguese government is set to approve Treasury Certificates Series 5, a new public debt instrument designed to attract small savers by building on the existing Treasury Savings Value Certificates model.
Rubis Gás has launched CLUBIS, a free savings club designed to help families manage rising living costs through an ecosystem of diverse partner discounts.
Most children's savings accounts are currently providing returns that fail to keep pace with inflation, prompting experts to suggest investment funds or certificates as more effective alternatives.
The Council of Ministers released a resolution on Friday, July 3, establishing Series 5 Treasury Certificates, aimed at boosting access to fixed-rate public debt instruments with no risk of capital loss. Designed for private savers with lower liquidity needs and a 10-year maturity, the certificates offer a fixed interest rate that increases over time, with early redemption possible after the first year. Each unit has a nominal value of one euro, with subscription limits ranging from 1,000 to 1,000,000 units. Interest rates start at 2.35% in the first year, rising to 3.35% by the tenth year. The IGCP will manage the issuance and redemption. Interest is subject to income tax, while the capital is fully guaranteed. This new offer replaces the Treasury Savings Value Certificates. Additionally, the Ministry of Finance has barred an Eco journalist following a report on Treasury Certificates.
The government argues that the new savings product is for “savers with less need for liquidity,” but redemption is possible as early as the end of the first year. The highest return is only achieved in 2036.
The Government approved this Friday the new series 5 Treasury Certificates, a 10-year savings product with fixed and increasing interest rates between 2.35% and 3.35%, which will replace the Treasury Savings Value Certificates starting Monday. Council of Ministers Resolution no. 141-A/2026 creates the certificates...
The Government is preparing to launch the 5th series of Treasury Certificates, with a fixed rate, 10-year maturity, and an average return of 2.71%. How does it work, what is the yield, and how does it compare to Savings Certificates and bank deposits? In this episode, we explain everything you need to know.
Remuneration does not depend on Euribor or GDP. It starts at 2.35% and goes up to 3.35% at the end of the ten-year term. The minimum investment is one thousand euros, an amount that cannot be redeemed in the first 12 months.
This article explores the distinction between saving and accumulating wealth, arguing that generating value through work, risk, and commitment is more vital to a healthy society than mere enrichment. It highlights the role of family savings and cooperative credit in building community strength, trust, and long-term prosperity. The author concludes that financial education should focus on our fundamental relationship with money, shifting the perspective from consumption to building a solid, sustainable future.
The Council of Ministers is expected to approve a new state savings instrument on Friday, which will go on sale as early as Monday.
Portuguese household savings are about to gain a new alternative, but this change comes at a price for the State. As ECO revealed this Thursday, the Government will launch new Treasury Certificates, with subscriptions starting next Monday, after the proposal is discussed and approved by the Council of Ministers.
The new product is expected to be approved at this Thursday's Council of Ministers meeting and will have a 10-year maturity.
PRESS REVIEW | Among the main changes is the increase in the investment term, which goes from seven to ten years
Although ruling out a structural reform of Social Security during the current legislative term, the minister admits it could be 'beneficial' to create individual savings mechanisms. The report by Jorge Bravo has not yet been submitted.
The IL presented a bill this Tuesday proposing the creation of Savings and Investment Accounts that allow for contributions of up to 20,000 euros annually without taxes on gains obtained through these accounts. In the legislative initiative submitted to Parliament, the liberal bench proposes the creation of a legal framework for...
Isabel Castelo Branco, CEO of BPI Vida e Pensões, will lead the 'Smart Savings for Long Lives' course at the Portuguese Insurers Association (APS) on July 7th at the APS headquarters. The course combines a sociological perspective on longevity with concrete data on savings and pensions in Portugal. With a strong practical component, the...
The rise in interest rates has two sides. Savings products indexed to Euribor are becoming more attractive. This is the case for Savings Certificates.
Between the beginning of 2025 and the first four months of 2026, the accumulated liabilities of life insurance companies grew by more than 15%, reaching 40.257 billion euros. The increase was driven primarily by capitalisation products and investment contracts, confirming the transformation of the life insurance sector into a market increasingly oriented towards...
The increase in remuneration, driven by the rise in Euribor rates, contributes to the largest jump in three years in the amount invested by families in the state instrument.
The amount invested in savings certificates has never been higher since the Bank of Portugal began its statistical series in 1998. Treasury certificates continue to fall.
A discussion on whether the concept of 'Trump Accounts' is a policy that could be applicable or beneficial in the Portuguese context.
In the European context, the average interest rate increased by 0.05 percentage points, reaching 1.91%
Interest on Savings Certificates will rise for the third consecutive month, with the base rate for subscriptions made in June increasing to 2.215%, up 0.02 percentage points compared to the remuneration offered on applications made this month. This will be the third month in a row that the base rate has increased, reaching its highest value...
April brought a significant improvement in the remuneration of Savings Certificates, attracting many small savers to one of the most popular savings instruments among the Portuguese. New investments in these government bonds totalled more than 500 million euros last month, marking the highest amount of net subscriptions in a year. Families...
Six out of ten Portuguese people focus their savings primarily on the short term rather than supplementing their retirement, reveals a study by BPI Vida e Pensões.
