Lisbon, Oct. 1, 2025 (Lusa) - The remuneration by banks on new term deposits for savers fell in August for the 20th consecutive month, to 1.34%, reaching its lowest figure since April 2023, the Bank of Portugal (BdP) announced on Wednesday.

According to the banking supervisor, the average interest rate on new term deposits for savers fell by 0.05 percentage points in August compared to July, compared to 2.56% in the same month last year.

This is the lowest return on term deposits by Portuguese banks since April 2023 (1.14%) and represents a fall of 1.74 percentage points since December 2023, when it reached 3.08%, the highest figure since July 2012.

At the end of August, the amount of new term deposits by savers decreased by €926 million, totalling €11.238 billion.

The average interest rate on new deposits with a maturity of up to one year fell by 0.05 percentage points to 1.34%, accounting for 94% of new deposits in August.

The average remuneration on new deposits with a maturity of one to two years remained at 1.39%, the highest among the various maturity categories.

Across the euro area countries, the average interest rate on new deposits fell by 0.01 percentage points to 1.76%, with Portugal maintaining its position among the euro area countries with the fifth lowest rate.

For companies, the average remuneration for new term deposits fell from 1.66% in July to 1.62% in August, declining for the 16th consecutive month and totalling €7.943 billion, €2.316 billion less than in the previous month.

Term deposits of up to one year accounted for 99.6% of new term deposits by companies.

After a period of stimulus in deposit remuneration - with the increase in key interest rates - the associated interest rates have been falling again.

PD/AYLS // AYLS

Lusa