Savings bonds offer 3%

 In News, Savings, Savings bonds

Small investors in Portugal’s national savings bonds certificates are enjoying 3% interest thanks to higher interest rates.

Within the space of one year interest on savings bonds has increased seven times, going from a measly 0.41% in January 2022 to 3.016% starting January 2023.
It will b the first time in a decade that Portuguese National Savings Bonds have paid interest of just over 3%.
The increase in interest on savings bonds has risen with the increase of the Euribor three month interest rates throughout 2022 which went from negative interest until July to the current positive rate of 2.2%.
Quarterly interest rates on savings bonds accrue automatically up to a maximum period of 10 years. If by then there has been no payout, any interest and capital invested over the decade is credited to the beneficiary’s bank account.