The average income of savings accounts in Portugal is 0.25%, while the EU average is 0.58%. The findings are from a study by the easyMoney financial firm owned by Stelios-Haji-Ioannou and the family of other brands such as easyJet, based on data from the central banks of the various countries collected in May 2018.
The easyMoney study indicates that Portuguese savings income has been penalized by low interest rates, coupled with the acceleration of inflation in the last decade. Still, it is not the country with the worst returns.
"Portuguese savers are desperate for better returns – 0.25% are worthless," Andrew De Candole, CEO of easyMoney, said in a statement. "The surprising thing is that people in Portugal even have a relatively good fortune at the insignificant interest they receive. I can not imagine how the Swedes who get 0.09% should feel ".
The country with the lowest average return is Sweden, with only three EU countries having average savings income above 1%. The highest interest rates are in Poland (1.9%), the Netherlands (1.18%) and Estonia (1.06%).