Savings certificates lose money for the fifth consecutive month

Savings Certificates fell from the threshold of 34 billion euros in March. It is the fifth consecutive month that money comes out of this State savings product, according to data from Banco de Portugal.

Figures from the regulator led by Mário Centeno show that 20.5 million euros came from Savings Certificates last month, reaching 33.996 billion euros. This is after applications for these certificates decreased by more than 26 million in the previous month.

Investment in Savings Certificates reached a maximum of 34.07 billion euros in October.

In June last year, António Costa’s Executive cut the remuneration of Savings Certificates, from 3.5% to 2.5%, at a time when these products were gaining popularity due to the fact that they offered higher returns than many bank deposits.

Data from the Bank of Portugal also shows that Treasury Certificates fell again, with the Portuguese holding 10.6 billion euros in March. It is the 29th month of decline for these products, but the value that came out is the lowest since May 2022.