Apprazo Deposit (non-redeemable)
Save with Apprazo on the app with a 2.50% rate for a 180-day term
Exclusive for our Millennium App users
Exclusive for our Millennium App users
App exclusive
Apprazo Deposit (non-redeemable)
Save with Apprazo on the app with a 2.50% rate for a 180-day term
Exclusive for our Millennium App users
Exclusive for our Millennium App users
App exclusive
App exclusive
Saving is easy
How does Apprazo work?
Paid at the end of each interest period (180 days) and credited to your current account.
After setting the deposit amount, remember that you will not be able to top it up until the end of the term (180 days).
After the initial period ends, you can withdraw all or part of the funds, forfeiting only the accrued interest.
Rates, amounts, and terms
And now the numbers
These are the amounts you can deposit
Minimum amount/maintenance
€ 5,000
€ 5,000
Maximum deposit amount
€ 500,000
€ 500,000
These are the rates (TANB)
€5.000 to €99.999,99
2.50%
2.50%
€100.000 a €500.000
2.75%
2.75%
TANL (Nominal Annual Net Rate): Amount from €5.000 to €99.999,99 – 1.800%, and from €100.000€ to €500.000 – 1.980%, considering the 28% withholding tax, as described on the "Tax regime" field. It does not allow for interest capitalization and the interest is credited to the current account.
And this is the term and currency
Term (days)
180
180
Currency
Euro
Euro
At maturity, the deposit will be automatically renewed for the same period, at the interest rate applicable to standard term deposits.
Saving in 4 simple steps
Saving has never been easier
Log in to the app
Log in to the app
and select Save > Create Savings > Apprazo Deposit.
and select Save > Create Savings > Apprazo Deposit.
Set the amount
Set the amount
from €5,000.
from €5,000.
Choose where you want to receive the interest
Choose where you want to receive the interest
you can receive it in your current account or in the deposit itself
you can receive it in your current account or in the deposit itself
And confirm
And confirm
voilà, you started saving!
voilà, you started saving!
What do you need?
What do you need?
To be over 18 years old
To be over 18 years old
A current account at Millennium
A current account at Millennium
To be registered on the app
To be registered on the app
Saving in 4 simple steps
Saving has never been easier
Log in to the app
Log in to the app
and select Save > Create Savings > Apprazo Deposit.
and select Save > Create Savings > Apprazo Deposit.
Set the amount
Set the amount
from €5,000.
from €5,000.
Choose where you want to receive the interest
Choose where you want to receive the interest
you can receive it in your current account or in the deposit itself
you can receive it in your current account or in the deposit itself
And confirm
And confirm
voilà, you started saving!
voilà, you started saving!
What do you need?
What do you need?
To be over 18 years old
To be over 18 years old
A current account at Millennium
A current account at Millennium
To be registered on the app
To be registered on the app
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Taxation
Residents and non-residents with a permanent establishment in Portugal to which returns from deposits are attributable
In the case of resident individuals, deposit income is subject to IRS withholding at a rate of 28% (19.6% in the case of deposit income earned by residents of the Autonomous Region of the Azores), with the option of aggregation. Tax aggregation is mandatory for business and professional investment returns.
A 35% withholding tax shall always apply when returns are paid into or made available in accounts opened under the name of one or more holders but on behalf of unidentified third-parties, unless the beneficial owner is identified, in which case the general rules shall apply.
Non-residents without a permanent establishment in Portugal to which returns from deposits are attributable
Returns on deposits earned by non-residents without a permanent establishment in Portugal to which these returns are attributable are subject to income tax withheld at source, 28% for individuals or 25% for legal persons.
A 35% withholding tax shall apply definitively when said returns are paid into or made available in accounts opened under the name of one or more holders but on behalf of unidentified third-parties, unless the actual beneficiary is identified, in which case the general rules shall apply.
The same 35% withholding tax applies when these returns are paid or made available to individuals or companies without residence or with no permanent establishment in Portugal to which these returns are attributable and that are domiciled in a country, territory or region clearly subject to a more favourable taxation scheme, as per Ordinance 150/2004, of 13 February.
In compliance with the double taxation conventions adopted by Portugal, withholding tax may be limited to 15, 12 or 10%, depending on the applicable convention and provided all legal procedures are observed. Withheld tax may be limited by a partial withholding tax exemption or by refund of the excess amount withheld.
This information is a summary of the tax regime in force at the date of incorporation and does not waive consultation of the applicable legislation.
Deposits Guarantee Fund
Deposits opened with Banco Comercial Português, S.A are covered by a refund guarantee from the Deposit Guarantee Fun (Fund) which is activated whenever funds are unavailable strictly due to its financial situation.
The Fund guarantees refunds up to a maximum amount of €100,000 for each depositor.
In calculating the value of deposits for each depositor, the value of the group of deposit accounts on the date on which payment was unavailable is considered, including interest and, for balances in foreign currency, converted into euros at the exchange rate on that day.
For further information please go to www.clientebancario.bportugal.pt/ and www.fgd.pt.