Poupança Mutualista Prazo 5.1 2024-29 - 11.ª Série

How do you see yourself in 5 years? With valued savings.

Discover the Mutualist Savings Scheme with a fixed term, which allows you to grow your savings and achieve your goals. Start today and reap the rewards in 5 years.

Subscribe

Your goals have a specific deadline, just like these savings. Over the next 5 years, the Poupança Mutualista Prazo 5.1 2024-29 - 11.ª Série scheme remunerates your savings with an average Gross Nominal Annual Rate of Interest of 2.500%.

An ideal savings solution to satisfy a medium-term project or need, be it a dream trip, your children's studies or training, a down payment on a house or the purchase of a new car.

Poupança Mutualista Prazo 5.1 It is exclusive for members and can be subscribed online. 

Simple and for all pockets
Online subscription, through a single delivery starting at 150 euros upto a maximum of 500,000 euros. Saving is easier if you start by taking small steps.
Valuing savings
Guarantee of capitalised annual income, with an average  Gross Nominal Annual Rate of Interest of 2.500%. Not only does it save, it adds value.
Flexible payback
Total freedom to access your savings at any time, even if subject to  income penalty provided for in the product conditions.
Capital and income covered
Your money and respective accumulated income are covered by the assets of  the Montepio  Mutualist Association.

What you need to know.

Term
This Series has a term of 5 years and 1 day.
Registration period and subscription start date
This Series is available for registration from October 31 to November 29, with the subscription start date on Novemeber 30, 2024.
Yield

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

 

1st Year: 3.250%

2nd Year: 2.750%

3rd Year: 2.500%

4th Year: 2.000%

5th year: 2.000%

 

Average GNAR for the Series term of 2.500%. Average annual gross capitalized cumulative yield of 2.627%.

 

At the end of the term, additional income may be distributed, corresponding to the Result of the Series, deducted from the annual allocations for the General Reserve Fund and special reserves constituted in accordance with the terms set out in the Statutes of Montepio Associação Mutualista, applicable to subscriptions that remain active or conditioned.

 

In the event of early repayment, loss of membership or death of the Subscriber, during the term of the Series, the capital delivered reimbursed, or to be reimbursed, will be entitled to the respective annual income, in relation to the period elapsed between the start date of the subscription, inclusive, and the exclusive date of Refund, loss of Membership or death, whichever occurs first.

Early payments

At the time of payment, the member is entitled to the accumulated capital existing at that time (capital delivered and respective income, deducted from possible payments and penalties). Except for exceptional situations, such as hospitalisation and medical expenses, the capital paid in advance and reimbursed will be subject to a regulatory penalty in the respective accumulated income of:

 

1st Year: Total loss of income

2nd Year: Total loss of income

3rd Year: 75% of income

4th Year: 40% of income

5th year: 0% of income

 

If the remaining balance is less than €150, a full payment will be made.

Distributor
The Montepio Mutualist Association is the responsible body and manages ( as an issuer) of the Poupança Mutualista Term 5.1 Series and takes on simultaneously with Banco Montepio, the role of distributor. Banco Montepio makes this mutualist scheme available for subscription by its customers, but it is not responsible for the payment of the benefit, that is, for the payment of the Quota of the scheme submitted by the subscribing client, plus the respective defined income.  The Montepio Mutualist Association is solely  responsible for that payment. The Association grants the Bank sufficient powers to negotiate and conclude agreements with members or potential members to establish mutual benefits relating to this modality. Moreover, it is important to highlight that Banco Montepio does not provide advisory services.
Investment policy

There is no binding investment policy. The overall net value of the Series (amounts delivered in this subscription plus the respective amounts generated and deducted from administrative costs and contributions to the Montepio Mutualist Association General Reserve Fund) will be invested, directly or indirectly, in deposits, fixed income securities and variable income securities in which, as a last resort, the Associations’s assets will cover the payment of Capital Accumulated in Subscriptions, the Association's assets.

 

The listing of the Association's Assets, as well as its investment and risk management policy are set out in the Report and Accounts for each year, available in the Document area of this page.

Inability to pay
A financial loss may be incurred if  the Montepio Mutualist Association is unable to pay back the capital and income. In these cases, under the terms and for the purposes of article 30 of the Code of Mutual Associations, it is mandatory to change the Benefits Regulation with a view to reestablish the necessary technical-financial balance of the scheme. To this end, the Association's Board of Directors promotes changes to its Benefits Regulations, with this change being subject to deliberation at the General Assembly. The repayment of the capital and income of the Series are solely guaranteed by the assets of the Montepio Mutualist Association and, therefore, are subject to its liquidity and solvency risks.

Give your goals a specific deadline.

Subscribe to Poupança Mutualista Prazo 5.1 online and start getting a return on your money now.

The Montepio Mutualist Association is the majority shareholder of Banco Montepio, holding almost all of its share capital. Mutualist schemes are types of social security benefits for individuals . They are not bank deposits, insurance, Retirement Savings Schemes , investment funds or financial instruments, and are not covered by the Deposit Guarantee Fund, the Investor Compensation System, or by any other public or state guarantee or protection system.  The Association's assets are solely responsible for the liabilities undertaken. Subscription to the schemes can be made at Banco Montepio branches or through the use of other channels, with Banco Montepio acting as a distributor of mutualist schemes, these being independent entities, with different nature and legal regime, namely Banco Montepio is a credit institution, while the Montepio  Mutualist Association is regulated by its own diploma (Decree Law No. 72/90, of March 3) and other applicable legislation, and is not a credit institution, nor an insurance company or an insurance company nor an investment management/pension fund company.

 

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