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Poupança Reforço Frequente

Save from €100 with monthly interest

Get a better rate by subscribing to one of our solutions
Get a better rate by subscribing to one of our solutions
 young couple lying on the floor, using their phones

Poupança Reforço Frequente

Save from €100 with monthly interest

Get a better rate by subscribing to one of our solutions
Get a better rate by subscribing to one of our solutions
 young couple lying on the floor, using their phones
 young couple lying on the floor, using their phones

More savings

How does Reforço Frequente work?

Juros
Earn interest every 30 days
You can choose to accumulate interest with the principal amount or according to the terms outlined in the "Capitalization Regime".
Reforco Ok
Top up your savings
Amounts between €100 and €5.000 per month.
Retirar Poupanca
Withdraw whenever you want
With a 100% penalty on the interest for any amount withdrawn during the savings period.

Rates, amounts, and terms

And now the numbers

These are the amounts you can deposit
Minimum amount / maintenance
100 100
Maximum amount
5.000 5.000
Maximum deposit amount
30.000 30.000
These are the rates, which vary based on the duration of the deposit
1st month - 2.00%* (TANL 1.44%) or 0%
2nd month until the 6th month - 2.00%**(TANL 1.44%) or 0%
From the 7th month - Current interest rate

* If, upon the opening of the savings account, you hold one of these solutions: Cliente Frequente, Millennium GO!, Millennium GO! Universitário or Mais Portugal.

**Under the following circumstances:
(a) during the immediately preceding interest calculation period (30 days), there is an increase in the balance of this deposit, with a minimum increase of €100, excluding the effect of interest capitalization; and
(b) you maintain subscription to the integrated banking products and services solution.
If all these conditions are not met, a 0% TANB applies.
And this is the term and currency
Term (days)
180 180
Currency
Euro Euro

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

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 > Reforço Frequente.
and select Save > Create Savings > Reforço Frequente.
Tx Esforco
Set the amount
Set the amount
from €100.
from €100.
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

Manage your savings on the app

Explore app
App Ecra App Generic01 01 230830 Ibannerapp 900X900 App Ecra App Generic01 02 230830 Ibannerapp 900X900
App Ecra App Generic01 230830 Ibannerapp 540X540

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

Compound interest

The interests (net) are compounded. The Customer may choose to credit the interests in the current deposit account. Any alteration depends on the express statement thereon, by means of an instruction sent to the Bank until the date the Term Deposit is made or afterwards, though in this case the credit in the current deposit account will only be made concerning interest-bearing periods subsequent to the one underway at the time of the instruction.

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 28% income tax (individuals) deducted at source.

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 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 favorable 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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