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Technical Data Savings Certificates Series E

Series E, created by Ordinance n.º 329-A/2017, of October 30, with subscriptions having been closed by the Ordinance 149-A/2023 of June 2nd
 


Characterization
 

Term

10 years, starting from the respective value date of each subscription

 

Interest Rate

Determined monthly on the antepenultimate business day of the month, to be in effect during the following month, according to the formula:

E3+1%, where E3 is the average of the values of the three-month Euribor observed in the previous ten business days, with the result rounded to the third decimal place. The application of this formula shall not result in a base rate higher than 3.5% or lower than 0%.

 
 
Interest Counting Period
Each subscription earns interest on a quarterly basis. The interest payment occurs on the day of the month that is the same as the subscription's value date. If that day does not exist in the month of maturity, the payment will be made on the first day of the following month.
 
 
Stay Bonus in Percentage Points

The following stay bonuses will be added to the base rate: 

0.5% - from the beginning of the 2nd year until the end of the 5th year; 

1.0% - from the beginning of the 6th year until the end of the 10th year.

 

Capitalization

Automatic capitalization of accrued interest (net of income tax).

 

Repayment

Of principal and capitalized interest, on the 10th anniversary of the subscription value date. The amounts are credited to an account (it is mandatory to indicate the IBAN for the first subscription).

 

Early Redemption

Total or partial, starting from the date of the first interest maturity of the subscription. The redemption results in the repayment of the nominal value of the redeemed units and the value of capitalized interest up until the redemption date.

 

Transmission Prescription

The Savings Certificates of series E shall become prescribed in favor of the FRDP within a period of 10 years counted from the date of their respective maturity, in accordance with Law No. 7/98, of February 3rd.

 


Form of Representation

 

Form of Representation

The savings certificates of "series E" are book-entry securities (registered securities) in the sense that they are solely represented by account records.

 


 

Ownership and Movement
 

Ownership

Accounts held by individuals

 

Savings Account

Each individual can only hold one Savings Account and each Savings Account will be associated with an International Bank Account Number (IBAN)

 

Movers

No

 


Capital Guarantee
 


Capital Guarantee

Total Capital Guarantee

 



Online forms for Savings Certificates or Redemption Tables can be found on the Forms page.

You can also simulate the current redemption value of your Certificate portfolio in Simulation Series E.