Term deposits in Portugal reached a new record in July, with 13.7 billion euros in new household operations. This value represents an additional 1.7 million euros compared to the previous month, setting the highest value ever recorded in Portugal for this type of financial product.
The data from the Bank of Portugal reveals that new deposits with terms of up to one year represented 95% of total new household deposits. The average interest rate on new deposit operations is also mentioned, but the information in the article is incomplete.
The article warns that depositing money that will not be needed in the coming months is equivalent to "burning money," highlighting the importance of analyzing the interest rate offered, of 1.59%, in confrontation with inflation. This analysis allows savers to evaluate whether they are truly preserving or losing purchasing power.
