Despite the record amount, term deposits decreased in July for the first time in almost a year. However, the amount of money held in the bank by the Portuguese rose again, driven by demand deposits, reaching a record high.

Data released by the Bank of Portugal reveals that the stock of term deposits decreased by €21.5 million to €116.4 billion in July. Although the drop was recorded, it was the first decline since August 2025, occurring at a time when interest in Certificados de Aforro is growing, along with some increases in revenue.

Interest in Certificados de Aforro is growing as term deposits yield an average of 1.5%, meaning Certificados de Aforro offer a return of almost 2.5%.

Most Portuguese families still keep their savings in term deposits, with 56% of Portuguese people doing so.

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