This page explains how our Term Deposit Comparison for Portugal is built: where the data comes from, what each column means, how the estimated interest is calculated, and the limits you should keep in mind. It is educational content — not financial advice or a recommendation.
Where the data comes from
Offers are collected by hand from public sources — mainly the banks' own websites and their standardised information sheets (FIN). There is no real-time connection to any bank: it is a hand-checked editorial snapshot, accurate as of the date shown at the top of the tool. Rates and conditions change often, so always confirm with the institution before deciding.
What each column means
- Gross rate (TANB) — the gross annual nominal rate, before tax and costs — the number you can compare across offers.
- Term — the length of the deposit, in months, during which the rate is fixed.
- Minimum / Maximum — the amounts the offer accepts; "no minimum" or "no cap" when it does not apply.
- Early withdrawal — whether you can withdraw before the term ends (sometimes with a penalty — see notes).
How the estimated interest is calculated
Estimated gross interest is simply amount × gross rate × (term in months ÷ 12). To the gross figure we apply a 28% Portuguese withholding tax to show an approximate net figure (net interest ≈ gross × 0.72). It is an illustrative, simplified estimate: it does not account for interim compounding, account fees, or different tax regimes (for example, non-residents). Use it to compare orders of magnitude, not as a promise of any outcome.
The Savings Certificates benchmark
As a point of comparison we show the rate on new subscriptions of Portuguese Savings Certificates (Certificados de Aforro) — a low-risk State alternative. The educational idea is simple: a deposit only pays off, in risk-and-return terms, if its net rate beats this benchmark. It is not a recommendation of any product.
Deposit guarantee and taxes
Term deposits have capital guaranteed by the Deposit Guarantee Fund (FGD) up to €100,000 per holder and per institution. Above that, it often makes sense to split across banks. Interest is taxed at 28% (withheld at source); non-residents may face different rules.
Updates and corrections
The "Last updated" date at the top of the tool shows when the table was last reviewed. Spotted an outdated rate or an error? Tell us via the contact page and we will fix it.
Trusted sources & further reading
- Todos Contam — financial literacy (Banco de Portugal, CMVM, ASF)
- Deposit Guarantee Fund (Fundo de Garantia de Depósitos)
- Banco de Portugal — Bank Customer portal
Educational content only — illustrative, not financial advice or a recommendation. Always confirm the current conditions with each institution.