According to the latest data from the Bank of Portugal, the average interest rate on deposits of up to one year does not exceed 0.31%. This is an interest rate 3.6 times below the Euro Zone average, which in November stood at 1.12%.
According to data from the European Union's statistics office (Eurostat), in the single currency space, only Cypriot, Greek and Slovenian banks pay less than Portuguese banks. The situation does not improve for deposits between 12 and 24 months either.
Despite the interest rate on deposits with a maturity of 1 to 2 years rising to 0.87%, it is half the average remuneration of Eurozone countries (1.81%).