Economy
There are deposits with interest rates near zero. Know the 'trap' of automatic renewal
The Governor of the Bank of Portugal has criticized the persistence of very low interest rates on many savings deposits compared to other countries. The report highlights that banks often use 'automatic renewal' clauses to keep funds in accounts with minimal returns, and that banks lack transparency in informing customers about better available options.
Why it matters
If you have money in a savings deposit in Portugal, check your bank's current interest rate and whether your account automatically renews, as you may be earning near-zero returns when better options exist.PúblicoRead original ↗
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