News this week revealed that banks such as Banif, BPI and Novo Banco are already ‘offering’ 0 percent interest accounts, while others have dropped interest to under 1 percent.
Speaking to Lusa News Agency, Apusbanc chief Júlio Mourão explained that savers could start looking at other non-traditional methods of obtaining interest “without any guarantee”.
“The question we have to ask ourselves is that with zero percent interest, why should we put our money in the banks, especially when we still have to pay banking charges and commissions because even to withdraw our money we have to pay”, argued Júlio Mourão.