Deposit rates rose again, but still trail the euro area
Banco de Portugal data show new household term deposits averaging 1.63% in August, while the average payment on existing home loans reached €446.
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Archived 12 September 2026The averages help with comparison, but the return or borrowing cost for one household depends on the product, term, balance and contract.
- New household term deposits averaged 1.63% in August.
- The euro-area comparison was 2.18%, leaving Portugal among the lower-rate markets.
- The average payment on existing home loans rose to €446; new home loans averaged 3.00%.
Savings and borrowing moved in different ways
The household term-deposit rate increased for a seventh month, but remained below the euro-area average. Banco de Portugal also reports a twelfth consecutive rise in the average payment on outstanding home loans.
These are weighted averages. A promotional deposit, fixed-rate mortgage or small remaining balance can differ substantially.
Compare the complete contract
For a deposit, compare the gross annual rate, term, access before maturity, tax treatment and deposit-guarantee coverage. For a mortgage, compare the index, spread, insurance, fees and total amount payable.
A lower monthly instalment can reflect a longer term rather than a cheaper loan. Ask for the standardized information sheet before deciding.
What you can do now.
- 01
Compare deposits by term, access and gross annual rate.
- 02
Review the mortgage's index, spread, insurance and fees.
- 03
Use the standardized offer documents, not an advertised rate alone.
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