New Treasury Certificates to launch with 2.71 percent yield
The Treasury and Public Debt Management Agency (Agência de Gestão da Tesouraria e da Dívida Pública or IGCP) is launching a new series of Treasury Certificates (Certificados de Aforro) starting next Monday. The product offers an average annual interest rate of 2.71% with a ten-year term, though investors may redeem their funds after one year. The minimum investment for the new series is set at 1,000 euros.
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 IGCP (Agência de Gestão da Tesouraria e da Dívida Pública) is the government agency responsible for managing Portugal's public debt and treasury. It oversees the issuance of government bonds and savings products, such as the Treasury Certificates (Certificados de Aforro) mentioned in the context, to finance state operations.
