By Andrea Hargraves 
BPI already pays over 2% on deposits
The bank led by João Pedro Oliveira e Costa has boosted its deposit bonus offer in the last two weeks and is even offering 2.5% in the third year of a non-callable deposit of the same duration.
BPI is already rewarding time deposits. Since last Wednesday, the bank has raised interest rates on funds deposited in the bank, after the supply increased on Monday. The bank led by Joao Pedro Oliveira y Costa thus joins Santander, Montebio, Caixa Geral de Depositos (CGD) and Novo Banco, which announced interest rate hikes last week.
BPI has been providing the “BPI Depósito Extra” deposit since February 15, with maturity of 180 and 360 days and TANB of 0.5% and 1%, respectively. The amount ranges from 250 euros to 40 thousand euros.
In Monday’s update, the financial institution raised the “non-fillable deposit” bonus with maturities of one, two and three years, which works by increasing TANB by 1.5% in the first year, 1.75% in the second year and 2% in the third year. In the case of a three-year refundable deposit, the interest paid in the third year can be as high as 2.5%.
The bank, which until recently was the only one that did not pay deposits, thus joins other institutions that offer attractive interest rates. As of the top five banks, only the Central Bank of China (BCP) still does not offer bonuses close to 2%.
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