0%. Already banks to offer no compensation to customers in short-term deposits. It is the minimum allowed by the Bank of Portugal. Now who can finance itself from the ECB to negative rates, banks have no interest in capturing short-term savings and “pushing customers to other alternatives,” said Filipe Garcia, an economist at the IMF.
Banif, BPI and New Bank are, for now, the three banks with deposits at 0%. But in price lists March, several banks turned down the salaries that are willing to pay for customers to deposit money in their vaults. At the short end, even the best rates are quite low. The best you get is 0.9% (ActivoBank). Most proposes close to zero remuneration. On average, a deposit of one year 5000euro yields 0.7% net as much as inflation for this year. That is, much of the current deposits should provide negative real yields, especially in large institutions that currently have very low rates, warns the Deco.
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