According to the banking supervisor, the average interest rate on new term deposits for individuals remained at 1.34% in September, the same rate as in August, halting a downward trend since January 2024, which had brought this rate to its lowest point since April 2023.
The current remuneration of time deposits by Portuguese banks is the lowest since April 2023 (1.14%), reflecting a decline of 1.74 percentage points since December 2023, when it had reached 3.08%, the highest value since July 2012.
Data from the BdP revealed that at the end of September, the amount of new individual term deposit operations increased by 773 million euros, totaling 12.013 billion euros.
The average interest rate on new deposits with a maturity of up to one year rose by 0.01 percentage points to 1.35%, representing 94% of new deposits in September.
Among eurozone countries, the average interest rate on new deposits increased by 0.03 percentage points to 1.78%, with Portugal dropping one spot among euro area countries, posting the fourth lowest rate.
For companies, the average remuneration on new term deposits rose from 1.62% in August to 1.66% in September, increasing for the first time since April 2024.
These new deposit operations totaled 9.736 billion euros, 1.795 billion more than in August, with deposits maturing in up to one year accounting for 99.0% of new corporate term deposits.
