The interest rate on new deposits for individuals exceeded 1% for the first time in eight years, more precisely since March 2015, standing at 1.03% in April, according to data released on Monday by the Bank of Portugal (BdP).
In the fourth month of the year, the amount of new deposits of individuals amounted to 6.2 million euros, which is a sharp drop compared to 1.3 million registered in March this year.
BdP allocates new deposits with a maturity of up to one year, the average interest on which was 0.95% (0.88% in March), new deposits from one to two years – 1.29% (1.12%% in March) and new deposits over two years. years with an average interest rate of 1.12% (0.79% in March).
In terms of the maturities of money in banks, new deposits under one year remain predominant, but have declined significantly to 73% (81% in March), with one to two years accounting for 19% and more than two years accounting for 8%.
The interest rate on new term deposits from companies amounted to 2.33%, rising above 0.3 percentage points for the third month in a row. “This rate was 1.05% in January, 1.50% in February and 1.98% in March,” BdP stresses.
The amount amounted to 5.9 million euros, of which the vast majority (98%) was invested in term deposits up to one year.
Author: business magazine
Source: CM Jornal
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