Interest on savings bonds climbs to 3.4%

Interest on government savings bonds has risen 3.4% according to the Portuguese debt and treasury institute IGCP.

These national savings bonds have become more attractive in recent months because they are Euribor three-month index linked, offering a maximum limit of 3.5% interest.
The current batch of certificates that are for sale through the CTT post office and online is the Series E whose base interest rate will rise from today to 3.403% gross, and in the case of older series, the return will be higher.
However, in the case of Treasury Savings Certificates (CTPC) the return on these products — they are linked to GDP growth and not interest rates — will be only 1.2% from February.
Euribor at three months — which was negative for seven years — between April 2015 and July 2022 – stood at 2.482%. In mid-December it was at 2.063%.