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Accrued on the accumulated capital, this Series provides an annual income capitalized at the Gross Nominal Annual Rate of Interest (GNAR):

1st Year: 2.75%

2nd Year: 2.50%

3rd Year: 2.20%

4th Year: 1.75%

5th year: 1.50%

Average GNAR for the Series term of 2.100%. Average annual gross capitalized cumulative yield of 2.189%.

The Series provides for the allocation of an annual Supplementary Income, determined according to the results of the Scheme, based on the Results Supplement Rate approved by the Assembly of Representatives, following a proposal from the Board of Directors.

At the time of redemption, the Member is entitled to the accumulated capital as of that date (contributions made and corresponding returns, net of any previous redemptions and penalties). Except for the предусмотрed exceptional situations described in the relevant Technical Sheet, the units of the Scheme that are contributed and redeemed early will be subject to a regulatory penalty on the accumulated returns: 100% in the 1st and 2nd years, 75% in the 3rd year, and 40% in the 4th year.

If the remaining balance is below €150, a full redemption will be carried out.

Montepio Associação Mutualista is the entity responsible for and manager (producer) of the Poupança Mutualista Prazo 5.1 series, and, together with Banco Montepio, also acts as distributor. Banco Montepio makes this mutual scheme available for subscription to its clients but is not responsible for the payment of the benefit, namely the reimbursement of the Scheme Unit subscribed by the client, plus the corresponding defined return. Sole responsibility for such payment lies with Montepio Associação Mutualista. MGAM grants Banco Montepio sufficient powers to negotiate and enter into agreements for the establishment of mutual benefits under this scheme with members or potential members.

Additionally, it should be noted that Banco Montepio does not provide advisory services.

The assets of this Series are primarily invested in the share capital of Caixa Económica Montepio Geral, caixa económica bancária, S.A. (Banco Montepio), in investment properties, and directly or indirectly in other equity interests, debt securities, and bank deposits. Payment of the Accumulated Capital arising from subscriptions to the Series is ensured solely by the assets of MGAM.

The composition of MGAM’s assets, as well as its Investment Policy and Risk Management Policy, are set out in MGAM’s Annual Report and Accounts for each financial year, available at: https://www.montepio.org/institucional/informacao-legal/.

You may incur a financial loss if Montepio Associação Mutualista is unable to reimburse the capital and the return. In such cases, under the terms and for the purposes of Article 30 of the Mutual Associations Code, it may be necessary to amend the Benefits Regulations in order to restore the required technical and financial balance of the Scheme.

The reimbursement of the capital and return of the Scheme/Series is exclusively guaranteed by the assets of Montepio Associação Mutualista and is therefore subject to its liquidity and solvency risks.