Can the bank change my contract conditions unilaterally?

Can the bank change the spread or the term without asking me?

No. The bank cannot change the loan terms without the customer's agreement. The same applies the other way: only what you both accept changes.

You can ask to renegotiate the spread, the term, the type of rate or the way you repay. If the bank agrees, it cannot charge fees for it. It also cannot require you to buy other products in return.

So why did my repayment change?

There are three common reasons, all set out in the contract:

• Euribor changed. On a variable rate, the interest rate is Euribor plus the spread. Euribor is reviewed at the chosen interval, for example every 6 months.
• You dropped products that lowered the spread. The bank may raise the spread, in line with the contract. It can only do so within one year.
• The fixed period of a mixed rate ended. From then on, the rate becomes variable.

Does the bank have to tell me?

Yes. When the interest rate changes, the bank tells you at least 15 days before. It gives you the amount of the next repayment and the parts of the interest rate.

Other changes that affect your repayment are notified at least 30 days before.

What about the current account?

The current account has its own rules. The bank can change the account terms, such as the fees. It must tell you at least 2 months before.

If you do not agree, you can close the account. The bank cannot charge a private customer a fee for closing the account. See the guide How can I avoid paying account maintenance fees?

An example with the sums

You owe €150,000 over 25 years. Euribor is at 2% and the spread is 1%. The interest rate is 3% and the repayment is about €711.

If Euribor rises to 2.5%, the rate becomes 3.5%. The repayment rises to about €751, €40 more a month. The bank did not change the contract: it applied Euribor, as the contract provides.

If you drop a product and the spread goes from 1% to 1.3%, the repayment becomes about €735. These are example figures.

What if I do not agree with a change?

Ask the bank for an explanation, in writing. If the answer does not satisfy you, you can complain to Banco de Portugal through the electronic complaints book.

If the bank refuses to improve the terms, you can look for another bank and transfer the loan. A transfer has costs. See the guide Can I transfer my mortgage to another bank?

Where FINOVA helps

We review your contract and other banks' offers with you. We show whether a transfer pays off, with the sums done. In the mortgage repayment calculator you can see the effect of another rate. Our fee is paid by the bank.

Sources

• Banco de Portugal — Want to change your home loan terms? Four rules you need to know (in Portuguese)
• Banco de Portugal — How to enter into home loan agreements
• Banco de Portugal — Interest rates in home loans
• Banco de Portugal — Rights and duties when making deposits
• Banco de Portugal — Complaining about a supervised entity

Sources checked on 22 September 2026.