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Net Millennium Flexível Deposit

Flexible savings that increase in rate the more you deposit

You can start saving from €250 and chose the term between 15 and 360 days
You can start saving from €250 and chose the term between 15 and 360 days
woman doing yoga on the beach at sunset

Net Millennium Flexível Deposit

Flexible savings that increase in rate the more you deposit

You can start saving from €250 and chose the term between 15 and 360 days
You can start saving from €250 and chose the term between 15 and 360 days
woman doing yoga on the beach at sunset
woman doing yoga on the beach at sunset

More savings

How does Net Millennium Flexível work?

Juros
Get interest at the end of the term
Interest is paid at the end of the savings term and credited to your current account.
Reforco No
Not possible to top up
After setting the deposit amount, remember that you will not be able to top it up until the end of the term.
Retirar Poupanca
Withdraw whenever you want
You can withdraw all the money or just a part of it, losing only the interest amount.

Rates, amounts, and terms

And now the numbers

These are the amounts you can deposit
Minimum amount/ maintenance
250 250
Maximum deposit amount
500,000 500,000
These are the rates (TANB), which depend on the amount
Between €250 and €9,999.99
15 to 360 days
1.05% 1.05%
Between €10,000 and €49,999.99
15 to 360 days
1.40% 1.40%
Between €50,000 and €500,000
15 to 360 days
1.50% 1.50%

TANL (Nominal Annual Net Rate): Level between €250 and €9,999.99: Term from 15 to 360 days - 0.756%; Level between €10,000. and €49,999.99: Term from 15 to 360 days - 1.008%. Level between €50,000 and €500,000: Term from 15 to 360 days - 1.080%. Considering the withholding rate of 28%, as described in the "Regime" field.
And this is the term and currency
Term (days)
15 to 360 15 to 360
Currency
Euro Euro

At maturity, the savings will automatically renew for the same period and interest rate that applies to standard deposits.

Saving in 4 simple steps

Saving has never been easier


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 website and app
To be registered on the website and app

Saving in 4 simple steps

Saving has never been easier

Login
Log in to the app
Log in to the app
and select Save > Create Savings > Net Millennium Flexível.
and select Save > Create Savings > Net Millennium Flexível.
Tx Esforco
Set the amount
Set the amount
from €250.
from €250.
Juros
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
Confirmar Notificacao e confirmar app
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 website and app
To be registered on the website and app

Manage your savings on the app

Explore app
 Mobile phone displaying the menu of the Millennium app  illustrations of functions within the Millennium app
 Mobile phone displaying the menu of the Millennium app

Legal documents and other information

Doc O Grey Doc O

Standard Information Sheet

Download
Doc O Grey Doc O

Depositor Information Form

Download
Doc O Grey Doc O

General Conditions

Download
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.

 

In the case of corporate income taxpayers resident or established in Portugal, deposit income is subject to a 25% withholding tax rate (17.5% in the case of deposit income earned by residents of the Azores Autonomous Region). Tax is withheld at source as an advance payment on the final tax due.

 

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 Fund, (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, it is considered the value of the group of deposit accounts on the date on which payment was unavailable, 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.

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