One of the explanations for this increase may be the holiday allowance received in June or July and is already reserved for more difficult days as they may come or simply to have the money stopped at the bank to the order.
The Portuguese continue to put savings on certificates of aforro. In July, the highest value of the last 27 years was reached. It is the tenth consecutive month in which the overall value of certificates grows.
This month, only 1.98%are yielding, but yet it has been the favorite choice of the Portuguese to keep savings. In July alone, according to the another 404 million euros were subscribed to the state of the state.
In total accumulated, it is the highest value of the last 27 years, with almost 38 billion euros in the Ministry of Finance coffers. We are talking about 12.6% more than in the same month of last year.
One of the explanations for this increase may be the holiday allowance received in June or July and is already reserved for more difficult days as they may come or simply to have the money stopped at the bank to the order.
However, although the total amount continued to grow from month to month, the certificates began to lose interest from the aforers in 2024, when, in June, the “series and” was replaced by “F Series”, with a lower interest rate.
Five months ago the interest rate of aforro certificates has been going down, since the Euribor rate at three months has also been falling.
At this time, the rate is already below 2%, which is not enough to compensate for inflation, which rose in June to 2.4%. That is, even so, it is losing money in real value.
On the other hand, permanence prizes after the first year and interest capitalization can help compensate for these losses.
