Certificados de Aforro
Published 4 November 2026, 00:38
Certificados de Aforro (government savings certificates)
A way of lending money to the Portuguese state at interest. They are issued by the treasury agency IGCP, are held in a person's name and cannot be sold to anyone else. At the moment only Series F is open for subscription; Series D and E are suspended. The rate is announced monthly: in September 2026 it reached the series ceiling of 2.500% a year before tax.
Where you come across it. CTT post offices and your personal area on the IGCP website; the "certificados" line in the list of your savings.
A 28% tax is withheld from the interest, so the net return is about 1.8%. The rate will not go above the series ceiling, even if Euribor keeps rising. Do not confuse them with Certificados do Tesouro, a different product from the same treasury agency.
Official website: igcp.pt
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Where to keep your savings in Portugal: a bank deposit or government savings certificatesLatest news
Heirs can claim Certificados de Aforro more than 10 years after the holder's death, Lisbon court rules 4 November 2026, 10:32 IVF at a state hospital costs only the medicines, and two people on €900 each take home more than one on €1,800 3 November 2026, 02:33