Publicidade a depósitos

Principles applicable to advertising financial products and services

Advertising financial products and services must be:

True – the information presented by institutions when advertising their financial products or services must respect the truth and not misrepresent the facts;

Transparent – the advertising message must be easily read or heard. Omitting or concealing information needed to correctly evaluate the highlighted characteristics or benefits of financial products and services is not allowed. This information may include, specifically, the access conditions to the products and services advertised (for example, a loyalty period) and restrictions (for example, a maximum investment amount in a deposit);

Balanced – information on access conditions and restrictions, deemed necessary in each individual case for bank customers to correctly evaluate the characteristics or benefits of the financial products and services that institutions highlight in their advertising, must have a similar prominence to that of those characteristics or benefits.

In advertising, the identity of the institution responsible for the financial products or services advertised must also be unequivocal.

Specific rules for the advertising of simple deposits (current accounts and term deposits)

Advertising that announces an interest rate or a benefit associated with a deposit must indicate, with similar prominence:

the gross annual nominal rate, in the case of a deposit with a single fixed interest rate;

the average gross annual nominal rate, when different fixed interest rates apply throughout the deposit´s life;

the reference rate and interest rate spread, in the case of variable interest rates;

the deposit’s currency of denomination;

the account maintenance fee, in the case of current account deposits;

the term of the deposit and, where applicable, an indication that early withdrawal is not allowed, in the case of term deposits;

the account maintenance fee, in the case of term deposits that require opening a specific current account.

Advertising of term deposits must also:

indicate the existence of a penalty, where applicable, in case of early withdrawal of the deposit;

refrain from highlighting or mentioning in the name of the deposit any rate of return accumulated during the life of the deposit, where it is greater than one year;

refrain from referring to an effective interest rate on a deposit that does not allow the capitalisation of interest for the entire life of the deposit.

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Publicidade a depósitos

Principles applicable to advertising financial products and services

Specific rules for the advertising of simple deposits (current accounts and term deposits)