Loan Price Research in Portugal (2026)
Updated August 2026. The cheapest advertised personal-loan TAEG floors are Cetelem and Banco CTT at 9.8%, with Cofidis at 9.9%; branch banks cluster at 11% to 13.3%. The legal ceiling is the Banco de Portugal usury cap: 15.3% for general personal credit in Q3 2026. Mortgage representative examples run TAEG 4.0% to 4.8% with bundled products, on July 2026 Euribor.
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How Was This Research Compiled?
Rates come from each lender's own site where published (accessed 19 August 2026), corroborated against the May-to-August 2026 comparator tables where a price sits behind a simulator. Every record keeps its source URL and access date in the catalogue. Personal-loan figures are the advertised "TAEG desde" floor; mortgage figures are the bank's own FINE-style representative example. Values we could not verify are marked n/a rather than estimated.
What Do Personal Loans Cost in Portugal?
Specialist consumer lenders (Cetelem, Cofidis, Credibom, Younited) undercut the branch banks by 2 to 4 points at the advertised floor. All lenders cap at the 84-month regulatory maximum term.
| Lender | TAEG from | TAN from | Amount (EUR) | Term |
|---|---|---|---|---|
| Cetelem | 9.8% | 8.45% | 1,000-75,000 | 12-84 months |
| Banco CTT | 9.8% | n/a | 1,000-50,000 | 12-84 months |
| Cofidis | 9.9% | n/a | 5,000-75,000 | 24-84 months |
| Younited Credit | 10% | 7.494% | 1,000-50,000 | 6-84 months |
| Banco Credibom | 10.05% | n/a | 2,500-75,000 | 12-84 months |
| UNIBANCO | 10.3% | n/a | 1,000-75,000 | 12-84 months |
| Oney Bank | 10.4% | n/a | 1,000-50,000 | 12-84 months |
| ActivoBank | 11% | n/a | 1,000-75,000 | 12-84 months |
| Caixa Geral de Depósitos | 11.1% | n/a | 1,000-75,000 | 12-84 months |
| Millennium BCP | 11.2% | n/a | 1,000-75,000 | 12-84 months |
| Novo Banco | 11.8% | n/a | 1,000-75,000 | 12-84 months |
| Santander Portugal | 13.2% | 9% | 1,000-75,000 | 12-84 months |
| Banco BPI | 13.3% | n/a | 1,500-75,000 | 12-84 months |
| Bankinter Portugal | 15.5% | n/a | 3,000-75,000 | 12-84 months |
Advertised floors, May to August 2026; the final rate is personalised after credit scoring. Usury cap Q3 2026: 15.3% general, 8.9% education, health and energy. Stamp duty of about 1.76% of capital applies on terms of a year or more.
What Do Mortgages Cost in Portugal?
Each figure is the bank's own representative example, on July 2026 Euribor averages (12M at 2.855%, 6M at 2.647%). The "with products" column reflects salary domiciliation plus bundled insurance, which lowers the spread by roughly 0.5 points.
| Bank | TAEG base | TAEG with products | Structure |
|---|---|---|---|
| Caixa Geral de Depósitos | 4.6% | 4.2% | Variable: Euribor 6M (2.647% Jul-2026 avg) + spread 1.35% base / 0.85% with salary domiciliation and bundled products; mixed-rate (2y fixed then variable) options |
| Millennium BCP | 4.8% | 4.2% | Variable: Euribor 12M (2.855% Jul-2026) + spread 1.25% base / 0.70% bonified; fixed and mixed options |
| Bankinter Portugal | 4.8% | 4.4% | Variable: Euribor 12M (2.855%) + spread from 1.05%; mixed-rate options; transfer product waives most costs |
| ActivoBank | 4.7% | 4.2% | Variable: Euribor 12M (2.798% Jun-2026) + 1.25% base / 0.70% bonified |
| Banco BPI | 4.8% | 4% | Variable TAEG 4.8% base / 4.0% bonified; fixed-rate examples TAEG 5.4% / 4.7% |
| Santander Portugal | 5.3% | n/a | Up to 100% LTV for buyers <= 35 years under state-guarantee scheme; representative TAEG 5.3%; standard lines price ~4.6-4.9% bonified (comparator) |
Novo Banco, UCI Portugal, Banco CTT publish no stable public representative example and price only through their own simulators; they are listed in the catalogue with a price note instead of a figure.
Frequently Asked Questions
Is TAEG the only thing to compare?
TAEG is the best headline comparator, but also check early repayment fees, mandatory insurance, stamp duty (Imposto de Selo, about 1.76% of capital on terms of a year or more), and the total cost of credit.
Why does the table say TAEG from?
Portuguese lenders advertise a floor rate and personalise the real rate after scoring your income, credit file (CRC at Banco de Portugal), and effort ratio. Treat the floor as the best case, not a quote.
Is there a legal maximum rate?
Yes. Banco de Portugal publishes quarterly usury caps. For Q3 2026: 15.3% TAEG on general personal loans, 8.9% for education, health and renewable-energy purposes, and 18.5% on cards and overdrafts.
Are mortgage rates fixed or variable?
Both are available. Variable rates track Euribor plus a spread of roughly 0.70% to 1.35%; the representative examples below use the July 2026 Euribor averages (12M at 2.855%, 6M at 2.647%).
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