depósito a prazo
Published 4 November 2026, 21:42
depósito a prazo (fixed-term deposit)
Money left with a bank for a fixed term in return for interest. By law, the money is repaid at the end of the term, and early only if the bank agrees and the conditions are set out in the deposit document. There is also a separate type, depósito a prazo não mobilizável antecipadamente, from which you cannot withdraw any money at all before the end of the term. Interest is calculated on an actual/360 basis: the actual number of days, over a 360-day year.
Where you come across it. Banks' offers of interest-bearing deposits, the bank's app, the deposit document you receive on the day you open it.
The deposit document must state the amount, the term and the maturity date, the conditions for early repayment, the interest rate and, separately, the rate that applies on early repayment, how interest is paid, and the conditions for automatic renewal (Decreto-Lei n.º 430/91, article 3). If the document says nothing about early repayment, there is no early repayment.