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

This Series has a term of 5 years and 1 day.

This Series is available for subscription during the period between April 1st and 15th, with a subscription start date of April 16th, 2024.

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

 

1st Year: 3.750%

2nd Year: 3.250%

3rd Year: 3.000%

4th Year: 2.500%

5th year: 2.500%

 

Average GNAR for the Series term of 3.000%. Average annual gross capitalized cumulative yield of 3.184%.

 

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.

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.

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.

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.

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.