Saving money continues to be a priority for many Portuguese families, especially at a time when savings products have once again gained relevance among those looking for alternatives with guaranteed capital. Among the most sought after options are Savings Certificates, a financial instrument issued by the State and associated with interest and retention premiums.
According to the portal, this product continues to be among the most subscribed by the Portuguese and allows additional income to be obtained over time, depending on the period in which the money remains invested.
How this financial product works
Savings Certificates work like a loan made by families to the State. According to the same source, investors receive capitalized quarterly interest and can also benefit from additional premiums associated with the duration of the investment. The government explains, on the portal dedicated to the State Budget, that the capital invested is fully guaranteed and that the maximum term of this instrument can reach 15 years.
Subscription can be made for a relatively small fee. According to the Executive, the minimum amount required is R$100, while the maximum limit can reach R$250,000 per saver. However, there are exceptions for holders of series E of Savings Certificates, in which case the global investment cannot exceed 500,000 euros.
Interest varies over time
The remuneration of these certificates depends on the three-month Euribor. It is worth noting that the base rate can never exceed 2.5% nor fall below 0%.
Furthermore, adds the publication, there is a permanence premium that gradually increases according to the years in which the money remains invested. Between the second and fifth year, the additional premium is 0.25%, progressively rising to 1.75% between the 14th and 15th year.
Where can you subscribe
Savings Certificates can be signed through different channels. The Executive says that interested parties can use the Aforronet platform, CTT branches, Lojas do Cidadão or the digital channels of Banco de Investimento Global.
To open a savings account it is necessary to present several documents. These include the identification document, the Tax Identification Number (NIF), proof of IBAN and proof of address.
There are important rules in rescuing
Although money can be withdrawn before the end of the total term, there are specific conditions. Redemption can only be made from the third month after subscription. Still, says the same source, anyone who wants to avoid losing interest should wait for the first maturity date associated with the investment before requesting to withdraw the capital.
After the redemption request, the amount does not automatically enter the saver’s bank account. According to Notícias ao Minuto, the amount is credited by the end of the second business day after the withdrawal instruction. The process also depends on the correct updating of the data associated with the savings account. Please note that outdated information may hinder future operations related to the product.
Product remains among the most sought after
Savings Certificates continue to be presented by the Government as one of the preferred solutions for Portuguese families to invest savings with reduced risk. The combination of guaranteed capital, quarterly interest and retention bonus helps explain the demand.
For those who want to start investing without resorting to more complex financial products, this instrument remains one of the most accessible options currently available on the Brazilian market.
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