Treasury certificates exhibit greater level of subscriptions since … – Economic

Treasury certificates exhibit greater level of subscriptions since … – Economic

Catherine Melo

Yesterday 15:38

The Portuguese put in October 332 million in the latest State of the savings product launched in October last year.

The state of savings products for retail continue to attract Portuguese savers. According to the latest Monthly Bulletin of Treasury Management Agency and Public Debt (IGCP), the Portuguese implemented in October, in net terms, 214 million euros in savings certificates, and 332 million in Treasury Certificates Savings Plus ( CTPM). The level of net subscriptions angariadas the latest state savings product launched in late October last year – CTPM -. Is the highest since the month following its release

With the amount raised by CTPM Last month, the IGCP extends to 3,039 million euros the total amount

raised with this savings vehicle. The fact might be related to the offered compensation. These bonds have a gross rate of 2.75% in the first year, 3.75% in the second and 4.75% in the third. In the fourth and fifth years reaches 5% and may be even higher by GDP growth of Portugal. This product thus beats the remuneration offered, for example, by time deposits that have been suffering consecutive pay cuts. According to the Bank of Portugal, the average interest rate on new time deposits of households touched in September, a new minimum of four years in 1.34%.

The Savings Certificates have also achieved benefit from this reality, achieving capture from the beginning of the year 1,679 million euros in net terms. Any person who signs in November of this product will benefit from a gross interest rate of 3.071%.