Skip BreadcrumbHome / Savings Centre / Depósito App

Depósito App

Save, wherever you are.
Early withdrawal subject to interest penalty.

Advantages

The Depósito App is here. With the Bank on your hand, save wherever you are.

  • Term: 92 days, automatically renewable for the same period of time;
  • Minimum deposit and maintenance amount: € 500
  • Maximum deposit amount: €10,000
  • Without the possibility of additions;
  • Early withdrawal subject to interest penalty.

Remuneration

Interest rate (TANB)

Benchmark interest rate: 0.3% (TANB) - 0.216% (TANL) considering a tax withholding rate of 28%, in accordance with the "Tax Regime”.

Unless otherwise instructed until the maturity date, the investment will be automatically renewed for the same term at the interest rate in effect at the renewal date for standard term deposits, published in our Price List, which may be consulted at any Millennium bcp Branch or at www.millenniumbcp.pt.

Term

92 days

When the term deposit is made, the value-date for the debit to the current account and for the credit to the term deposit account is that very same day (D). At maturity and/or in case of early withdrawal (total or partial) of the term deposit the value-date for the credit into the current account is that very same day (D).

Amounts

  • Minimum deposit / maintenance amount: 500 €
  • Maximum initial deposit amount: €10,000

Extension

Unless otherwise instructed until the maturity date, the investment will be automatically renewed for the same term at the interest rate in effect at the renewal date for standard term deposits, published in our Price List, which may be consulted at any Millennium bcp Branch or at www.millenniumbcp.pt.

Early withdrawal

Early withdrawals (full or partial) are allowed at any time during the contracted term, with 100% penalty of interest for the amount withdrawn.

Interests

Interest will be paid into the associated current account at the end of each interest bearing period.

Compound interest

Interest will be paid into the current account.

Please see our Pricing.

Features

Who may apply

Individuals, resident or not and Emigrants that hold a current account with Banco Comercial Português S.A..

This deposit can only be made in the App and for customers registered in www.millenniumbcp.pt.

It is only possible to make a Depósito App per Client and per current deposit account.

Term

92 days

Extension

Unless otherwise instructed until the maturity date, the investment will be automatically renewed for the same term at the interest rate in effect at the renewal date for standard term deposits, published in our Price List, which may be consulted at any Millennium bcp Branch or at www.millenniumbcp.pt.

Amounts

Minimum deposit / maintenance amount: € 500

Maximum deposit amount: € 10,000

Additions

Not applicable.

Guarantee of Capital Invested

We guarantee the total amount deposited at maturity and in case of early withdrawal.

Please read the Standardised Information Form and the General Terms and Conditions for the Depósito App.

How to apply

This deposit can only be made in the App and for customers registered in www.millenniumbcp.pt.

It is only possible to make an Depósito App per Client and per current deposit account.

Legal information

Taxation

Residents and non-residents with a permanent establishment in Portugal to which returns from deposits are attributable.

Individuals residing in Portugal are subject to 28% withholding income tax on deposits returns (22.4% for the Autonomous Region of the Azores) and may opt for 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 favourable 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.

Deposit Guarantee Fund

Deposits opened at Banco Comercial Português, SA are covered by a refund guarantee from the Deposit Guarantee Fund, which is activated whenever funds are unavailable strictly due to financial reasons.

The Deposit Guarantee Fund ensures the refund of up to 100,000.00 Euros per depositor, regardless of whether the depositor resides in Portugal or abroad or whether the deposits are in Euros or in a foreign currency.

The value owed to each depositor is calculated by considering the total value of his/her deposit accounts, including interest, at the date the bank was unable to make the payment. Balances in foreign currency shall be converted into Euros, at the exchange rate in effect at that date (reference exchange rates published by the Portuguese central bank - Banco de Portugal).

The depositor shall be refunded within a maximum of 7 days for a tranche up to 10,000 Euros; the remaining amount (up to 100,000 Euros) shall be paid out within a maximum of 20 business days, as of the date the deposits were unavailable. The Fund may, under extremely exceptional circumstances and regarding individual cases, request Banco de Portugal to extend the term, for a maximum period of 10 business days.

For further information, please go www.clientebancario.bportugal.pt/ and www.fgd.pt.

Most Popular

Cash Advance
Has an unexpected expense come up?
Make your daily life easier.
RentingRenting
Do you want a new car? You don’t need to buy one anymore.

You might be interested ...

Pétis Insurance
If you've got a dog or cat, Pétis Insurance has advantages for you.
Médis Health InsuranceMédis Health Insurance
Personal Health Service with a Plan that matches your needs.

 


Formulário de Informação do Depositante



Not a registered user yet?

Meeting Point

Banco Mail

More contacts