The older 'Série E' of Savings Certificates offered a higher maximum return and more favorable permanence premiums compared to the current 'Série F', which replaced it in June 2023. Simulations show that investors holding the older certificates earn significantly more interest than those who migrated to the new series.
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The government predicts that the 3-month Euribor, the indexer for Series F Savings Certificates, will remain above the 2.5% cap throughout 2027. Consequently, investors holding these certificates will continue to earn the current maximum base rate of 2.5% during that period.
The profitability of Series F Savings Certificates remains at the 2.5% ceiling for the third consecutive month in November 2026. Government projections for the Euribor rate suggest this maximum limit will likely persist throughout 2027.
The Lisbon Court of Appeal ruled that the statute of limitations for heirs to claim deceased relatives' Savings Certificates (Certificados de Aforro) does not automatically start on the date of death. Instead, the court determined that the clock only begins once the heirs become aware of the existence of these assets.