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Best Deposits & Government Bonds in Portugal 2026 2026

Portugal offers attractive conservative investment options for European investors: from bank deposits accessible through Raisin to Obrigações do Tesouro (OTs), the sovereign bonds issued by IGCP (Agência de Gestão da Tesouraria). APYData compares the best available products in real time with updated data.

2
Products compared
3.08%
Best APY available
2.81%
Average APY
# Entity Product APY Score Risk Liquidity View
1
IGCP — Agência de Gestão da Tesouraria (Portugal)
 OT 10 años 3.08% 6.9 Low Market hours View →
2
BTG Pactual
 BTG Pactual — Depósito 3 años (Raisin) 2.54% 5.6 Low Locked View →
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Best fixed-term deposits in Portugal in 2026

Portugal offers competitive euro-denominated bank deposits covered by the Fundo de Garantia de Depósitos (Portuguese DGF) up to €100,000 per depositor per institution — the same European guarantee framework as Spain, France, and Germany. Major Portuguese banks (CGD, BPI, Millennium BCP, Santander Totta) and international neobanks operate in the country with attractive savings products.

Why compare Portuguese deposits?

All deposits are in euros with no currency risk, making Portuguese bank deposits directly comparable to Spanish, French, or German ones. As EU residents share a common passport, any EU citizen can theoretically open an account in Portugal — though in practice, pan-European neobanks are the easiest route to access the best rates.

Types of products available

  • Fixed-term deposits — guaranteed return from 1 month to 5 years, capital protected.
  • Notice accounts — more flexible, with access to capital in 30–90 days.
  • Remunerating savings accounts — instant liquidity with variable rate, common in neobanks.

Key factors when choosing

  1. Deposit guarantee — confirm the bank is covered by the Portuguese DGF or the equivalent home-country scheme (for branches of foreign banks).
  2. Early withdrawal penalties — fixed-term deposits typically charge a fee if you withdraw before maturity.
  3. Tax treatment — in Portugal, bank interest is subject to a 28 % withholding tax at source.
  4. Online accessibility — some Portuguese banks require in-person branch visits to open an account.

Comparison with Spanish deposits

Portuguese deposit rates are generally similar to Spanish ones, as both share the same ECB monetary policy. The difference lies in transmission speed: some Portuguese neobanks have offered above-average rates during specific periods. Compare both markets in our European deposit comparator.

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Frequently asked questions
Are deposits in Portugal guaranteed?
Yes. Deposits at Portuguese banks are covered by the Portuguese Deposit Guarantee Fund (FGD) up to €100,000 per depositor per institution — the same as in all EU countries under the DGSD Directive.
What are OTs (Obrigações do Tesouro)?
OTs are Portuguese government bonds issued by IGCP. They are the equivalent of Spanish government bonds. They are backed by the Portuguese Government and traded on European secondary markets.
How to access Portuguese bank deposits from abroad?
The easiest way is through platforms like Raisin, which provide access to deposits from European banks (including Portuguese ones) with 100% online onboarding and no need to travel to Portugal.