The interest rate on Savings Certificates has increased again in November, now standing at 2.044%, as per the information available on the Agency for Treasury Management and Public Credit (IGCP) website.
“The gross interest rate for new subscriptions of Savings Certificates, Series F, in November 2025 was set at 2.044%,” reads a notice on the IGCP website.
In October, it is noteworthy that the interest rate for these investment products was at 2.009%.
What are Savings Certificates?
Savings Certificates are “debt instruments created to attract household savings,” according to the IGCP.
“They are primarily characterized by being distributed at retail, meaning they are directly placed with savers and have low minimum subscription amounts. Savings certificates can only be issued to individuals and are non-transferable except in the event of the owner’s death,” as stated on the IGCP’s website.
Attention to New Rules
It should be noted that the IGCP has decided to strengthen the security procedures for savings accounts, with a new mandatory validation of the Tax Identification Number (TIN) and the associated IBAN. These rules came into effect two weeks ago.
From this Monday, a new mandatory validation process for the Tax Identification Number (TIN) / bank account number (IBAN) associated with savings accounts will be implemented.
Notícias ao Minuto | 08:13 – 20/10/2025
“From October 20, 2025, a new mandatory validation process for the Tax Identification Number (TIN) / bank account number (IBAN) associated with savings accounts” will be implemented, according to an IGCP note.
The aim is “to ensure that the TIN and IBAN actually belong to the account holder, preventing fraud situations and enhancing the integrity of operations.”
If it is not possible to confirm the match between the registered TIN and IBAN, “the savings account will be temporarily immobilized, and savers, in such cases, should go to an authorized service point (such as CTT stores or Citizen’s Space Network publicized on the IGCP website) and present an updated proof of the IBAN,” explains the public debt management agency.
The Court of Auditors identified a risk of 1.174 billion euros in lapsed Savings and Treasury Certificates, partly because the IGCP cannot pay families due to immobilized accounts or deceased holders.
According to the report on the General State Account (CGE) for 2024, there was “an increase in the balances held by the IGCP (covering a long time span – 2005 to 2024), maintaining in the stock of potentially lapsed debt securities (due to lack of information) and others at risk of lapsing.”
The identified risks include 603 million euros in debt stock related to instruments belonging to 16,782 holders (deceased or with other balances held by the IGCP, immobilized or on order), as well as 494 million in debt stock, referring to 56,759 accounts without cross-referenced information with the Institute of Registries and Notary (IRN).
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