The interest rate on new term deposits rises in September but remains below the European average

In September, the interest rate for new term deposits in Portugal rose to 1.82%, marking the eighth consecutive increase, yet it remains below the eurozone average of 2.37%. The increase of 0.19 percentage points from August reflects the highest rate since March 2025. New term deposits from individuals totaled €13.415 billion, up by €688 million from August. The average interest rate for new corporate term deposits also increased to 2.24%. Despite the rise, Portugal holds the sixth lowest average interest rate in the euro area.