Portuguese banks pay 86% less for household deposits than the rest of the eurozone – ‘saving’ millions

In Portugal, nothing goes in your favor, even if you are very lucky not to be defrauded and stolen, or simply decide not to invest in Portugal, which is the only right decision to make, your money, even quietly deposited in Portuguese banks, will shrink a lot.

That’s why, one way or another, you are always screwed in Portugal.

The following article is a translation. You can find the link to the original website at the end of it.


Families currently have 89.7 billion euros in demand deposits that yield nothing

If Portuguese banks paid the same as Eurozone banks on deposits, Portuguese households and companies would receive €1.200 million more for their savings than they currently receive, according to ECO calculations based on European Central Bank statistics (ECB).

Although wages have been rising in recent months, Portuguese deposits continue to be among the least profitable in the single currency region.

Just last week, despite having recognized this positive development, the governor of Banco de Portugal, Mário Centeno, considered in Parliament – which is holding a series of hearings with officials on the mismatch of interest on deposits and loans – that the effort made by the Portuguese banks is still “insufficient” so far.

The figure of 1.200 million euros was calculated based on the difference in average interest rates practiced by Portuguese banks in relation to banks in the Euro Zone on the stock of deposits of individuals and companies in February. It should be noted that both average interest rates and the volume of deposits fluctuate every month, so Portuguese banks’ “savings” vary monthly.

Families with 90 billion earning 0%

Regarding deposits for individuals, if household savings were remunerated at the average interest rate in the Euro Zone, deposits of around 180 billion euros would be yielding 1.11 billion in interest (per year and in gross terms ) and not just 155 million at the rates practiced by Portuguese institutions, which manage to “save” around 960 million euros.

This means that, on average, for every 100 euros of interest that Eurozone banks pay in interest on deposits from individuals, Portuguese banks pay just 13.9 euros.

In practice, national banks pay, on average, 86% less for household savings than what Eurozone banks are paying – which helps explain why there is a rush for Savings Certificates.

Banks “save” 960 million in interest on private deposits

Families currently have 89.7 billion euros in demand deposits that yield nothing. If this savings were remunerated at the average rate of 0.12% practiced by banks in the Euro Zone, families would receive around 107 million in interest.

In terms of deposits with a term of up to two years, which totaled around 81.9 billion in February, if they were remunerated at the average rate of 1.07% in the Euro Zone, families would be entitled to 875.8 million in interest – instead of 130.9 million resulting from the application of an average rate of 0.16%.

As for term deposits for more than two years, which accumulate savings of 7.6 billion euros, the difference in interest allows national banks to save 106.8 million euros.

Companies have 80% of demand deposits

As for companies, with deposits amounting to more than 60 billion euros in February, the lower interest rates that national institutions pay in relation to the Eurozone mean savings of 277.4 million euros for banks’ coffers.

For every 100 euros of interest that European banks pay to companies, national banks only give 30 euros, on average. This means that, currently, national banks pay, on average, 70% less than the average bank in the Euro Zone for company savings.

Banks “save” 277 million in interest on company deposits

A large part of the savings (80%) is invested in demand deposits that are yielding 10 million euros in interest at an average rate of 0.02%. If they yielded 0.31% (Eurozone average rate), companies would receive 158.3 million euros in interest.

In term deposits of up to two years, which amounted to 12.1 billion euros in February, the interest differential gives a “saving” of 127 million to banks.

The 200 million invested in savings with maturities of over two years yield interest of 1.48 million, but would be yielding more than double (3.4 million) with the average rates practiced in the Euro Zone.


A country where criminals and the powerful are systematically protected to the detriment of victims and its citizens is the definition of a dictatorship, which is why Portugal should leave the EU.

PORTUGAL ROBBED ME €130.000 EUR AND SIX YEARS OF MY LIFE!

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