Lisbon, July 6, 2026 (Lusa) - The Portuguese government’s new savings product, Series 5 Treasury Certificates, goes on sale on Monday, offering an average rate of 2.71% and with capital guaranteed.
This new series replaces the current Poupança Valor Treasury Certificates (CTPV), which are no longer available for subscription, with a view to appealing to “savers who favour medium-term savings strategies”, the Ministry of Finance said today in a statement.
Series 5 Treasury Certificates offer guaranteed capital, fixed rising interest rates and a 10-year term, with the option to redeem them from the end of the first year.
Each unit has a face value of €1, and subscriptions can be made for a minimum of 1,000 and up to a maximum of 1 million.
The interest rate for the first year is 2.35%, rising to 2.45% in the second and third years, to 2.65% in the fourth and fifth years, to 2.75% in the sixth and seventh years, to 2.85% in the eighth and ninth years, and finally to 3.35% in the tenth and final year.
Interest is not compounded and will be credited, net of tax (28%), to the IBAN registered for the relevant treasury account.
From the first year onwards, redemptions may be made at any time, resulting in the total loss of interest accrued from the last interest payment date until the redemption date.
In the event of a partial redemption, the total number of remaining units must not be less than 1,000.
This product can be subscribed to via AforroNet (aforronet.igcp.pt), or at authorised outlets such as CTT, Espaços Cidadão and participating financial institutions.
The Portuguese State “is expanding the range of savings products on offer, enabling citizens to opt, under more attractive market conditions, for a fixed-rate product to complement the variable rate of Series F Savings Certificates”, the Ministry of Finance emphasises.
In accordance with the resolution of the Cabinet, the Treasury and Public Debt Management Agency (IGCP) regulates the issue, subscription, transfer and redemption of the securities.
It is further stated that interest is subject to personal income tax (IRS) and that the securities are exempt from stamp duty, provided they are transferred to legitimate heirs.
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