Compare Fixed-Rate Deposits in Portugal

Live offers across tracked providers in Portugal — updated daily from the Giraffy database.

Live offers

17 live offers compared from 17 providers, from 2.50% bruto. Updated daily.

Depósitos a prazo fixo Millennium BCP Millennium BCP Term

2.50% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 2,5%

Depósitos a prazo fixo da Abanca PT Abanca Term PT

2.75% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 2,75%

Depósitos a prazo fixo do Novo Banco Novo Banco Term

3% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 3,0%

Fidelidade Term PT Depósitos a Prazo Fixo Fidelidade Term PT

3.15% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 3,15%

Depósitos a prazo fixo do Bigbank Portugal Bigbank Portugal Term

3.25% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 3,25%

Depósitos a prazo fixo da BPI em Portugal BPI Term Portugal

3.50% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 3,5%

Depósitos a prazo Ocidental PT Ocidental Term PT

3.95% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 3,95%

Depósitos a prazo fixo Santander Term PT Santander Term PT

4% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 4,0%

Depósitos a prazo fixo da MeDirect Portugal MeDirect Portugal

4.25% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 4,25%

Depósitos a prazo fixo CGD Portugal CGD Term Portugal

4.50% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 4,5%

Depósitos a prazo fixo em Montepio Montepio Term

4.75% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 4,75%

Depósitos a prazo fixo do Openbank Portugal Openbank Portugal

4.75% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 4,75%

Depósitos a prazo fixo do Bankinter Term PT Bankinter Term PT

5% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 5,0%

Depósitos a prazo fixo haitong PT haitong Term PT

5.10% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 5,1%

Depósitos a prazo fixo do Banco CTT Banco CTT Term

5.25% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 5,25%

Depósitos a prazo fixo da Novobanco PT Novobanco Term PT

5.30% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 5,3%

Depósitos a prazo fixo do Credito Agricola Credito Agricola Term

5.50% bruto

  • Tutela del deposito: DGS da UE — até 100.000 €
  • Taxa de juro: 5,5%

What are fixed deposits in Portugal?

A fixed deposit (depósito a prazo) is a savings product where you lock a sum of money with a bank for an agreed term — typically 3, 6, 12 or 24 months — in exchange for a guaranteed interest rate. Unlike a current account, the money is committed for the full term, and in return the rate is fixed and known in advance. For Portuguese savers who want certainty rather than the ups and downs of investing, the depósito a prazo remains the most popular way to earn a return on cash while keeping capital fully protected.

How the Portuguese market works

Portuguese banks compete on the taxa anual nominal bruta (TANB, the gross annual rate) and on the term structure. Rates broadly track the European Central Bank and Euribor, so when the ECB raises rates term deposits become more attractive. Many banks offer promotional rates for new money or for clients who hold a current account with them, while online-only and foreign challenger banks passporting into Portugal often lead the table. Interest is generally paid at maturity, though some products pay monthly or quarterly. Early withdrawal is sometimes allowed with a loss of accrued interest.

Benefits

Guaranteed return — the rate is fixed at the start, so you know exactly what you will earn regardless of what markets do.

Capital protection — your principal cannot fall in value, unlike shares or funds.

Deposit guarantee — balances are covered up to €100,000 per person per bank by the Fundo de Garantia de Depósitos.

Flexible terms — you can ladder deposits across different maturities to balance access and yield.

How to choose

Compare the gross rate across the same term rather than headline promotions, and check whether the rate is guaranteed for the whole period or only introductory. Read the conditions for early redemption, minimum deposit amounts, and whether the rate requires you to move a salary or hold other products. Remember that interest is subject to a 28% withholding tax (IRS liberatório), so compare on a net basis. Foreign banks operating under a European passport are covered by their home-country guarantee scheme, so confirm which system protects you.

Leading providers in Portugal

Novo Banco offers term deposits across multiple maturities, and Credito Agricola is a strong option for savers who value a large cooperative branch network. Banco BPI (BPI Term Portugal) and Bankinter Portugal run competitive online term products, while Abanca and the Estonian-owned Bigbank frequently top the rate tables with promotional offers for new money. Fidelidade, better known as an insurer, also markets capital-guaranteed savings products. Rates and conditions vary by term and by whether you are an existing client, so it pays to compare several banks.

What it costs

There is normally no fee to open or hold a fixed deposit — the cost is the opportunity cost of locking your money away. Advertised gross rates in Portugal currently range from roughly 2.5% to 5.5% depending on the term, the amount, and whether it is a promotional new-money offer. Longer terms and larger balances tend to earn more, and online challengers usually pay above the big high-street banks. Always confirm the net rate after the 28% tax.

Protections and regulation

Banks in Portugal are supervised by the Banco de Portugal, which regulates conduct and financial soundness. Deposits are protected up to €100,000 per depositor per institution through the Fundo de Garantia de Depósitos; joint accounts are covered up to that limit per holder. Banks must publish the TANB clearly and provide standardised pre-contractual information (FIN — Ficha de Informacao Normalizada) so you can compare products on a like-for-like basis.

Common questions

Can I withdraw early? — Often yes, but you usually lose some or all of the accrued interest; check the specific product terms.

Is the interest taxed? — Yes, a 28% withholding tax applies to interest for residents, deducted at source.

Is my money safe? — Deposits up to €100,000 per bank are guaranteed by the Fundo de Garantia de Depositos.

Are foreign online banks safe? — Those passporting into Portugal are covered by their home EU country deposit scheme, which offers equivalent €100,000 protection.

Fixed-Rate Deposits in Portugal — FAQ

What is the best fixed deposit rate in Portugal right now?

Giraffy tracks 5 fixed-rate deposit accounts across Millennium BCP Term,Abanca Term PT,Novo Banco Term,Fidelidade Term PT,Bigbank Portugal Term banks in Portugal. Sort by highest rate and compare term lengths to see which account suits your timeline.

What is a fixed-rate deposit and how does it work?

A fixed-rate deposit (also called a fixed-term bond or term deposit) locks your money away for a set period — typically 3 months to 5 years — in exchange for a guaranteed interest rate. You agree the rate upfront, so rising or falling market rates don't change your return.

Are fixed deposits safe?

Yes — the Fundo de Garantia de Depósitos protects up to €100,000 per person, per bank. Fixed deposits at Banco de Portugal-regulated institutions are typically among the lowest-risk savings options available. Rates are guaranteed; your principal and interest are protected up to the scheme limit.

Can I withdraw money early from a fixed deposit?

Most fixed deposits penalise early withdrawal — typically forfeiting 30–180 days of interest, depending on the institution and term length. Some accounts don't allow withdrawal at all before maturity. Check the early-exit penalty before locking in a large sum.

What is the difference between a fixed deposit and an easy-access savings account?

Fixed deposits pay a higher rate in exchange for locking your money away for a defined term. Easy-access accounts let you withdraw any time but pay a lower variable rate. If you have a cash lump sum you won't need for 6–24 months, a fixed deposit typically earns more.

What happens at the end of a fixed deposit term?

At maturity, most banks automatically roll your deposit into a new term at the prevailing rate — which may be higher or lower than your original deal. Set a diary reminder to review and re-compare rates before auto-renewal if you want to ensure you get the best rate available.

How are fixed deposit rates set in Portugal?

Fixed deposit rates are closely linked to the central bank's benchmark rate. When the Banco de Portugal raises rates, banks tend to offer higher deposit returns — and vice versa. Comparing regularly helps you catch rate rises before banks reduce their offers.