Reimbursement of Retirement Savings Plans (“PPR”) for the payment of installments of credit contracts guaranteed by a mortgage on real estate intended for own and permanent habitation

The reimbursement of the net value of savings plans, which is required in accordance with the case provided for in Article 4(g) of Decree-Law 158/2002, of July 2, may be used to pay installments of credit agreements guaranteed by a mortgage on property intended for the Participant's own permanent residence.

For this purpose, the benefits of the credit agreements covered are considered to be the benefits owed by the Participant as a borrower in the respective agreement, in proportion to their ownership, in the case of joint ownership of the credit agreement, except in cases where by virtue of the couple's property regime the PPR is a joint asset (see Ordinance 1453/2002 of November 11).

According to the legislation in force, the reimbursement required in the case of payment of installments of credit agreements guaranteed by a mortgage on a property intended for the Participant's own permanent residence can only take place for: (i) installments for which at least five years have elapsed and/or (ii) installments for which five years have not elapsed, in cases where the first live unit of the contract elapsed more than five years ago and the amount of installments made in the first half of the term of the contract represents at least 35% (thirty-five percent) of the total installments.

The amount to be credited will be the net amount of the reimbursement (for this purpose, the net amount should be understood as the amount net of IRS and any other applicable charges), corresponding to the amount of the installment/s of the credit agreement covered, and will be processed on the due date of the latter.

If the form is submitted after the 20th (twentieth) of the current month (or the next working day), the reimbursement will only be processed in the following month, provided that all the requirements are met.

In order to request reimbursement of PPRs for use in the payment of installments of credit contracts guaranteed by a mortgage on a property intended for the Participant's own permanent residence, under the legal regime for retirement savings plans, you can do so in person at a BBVA branch or by e-mail, following the steps below:

1. Fill in the applicable reimbursement request form:

• Reimbursement request form in accordance with Article 4(g) of Decree-Law 158/2002 of July 2;
  

You can look through the Frequently Asked Questions at the bottom of this page to clarify any doubts.

2. Before submitting the form, you must obtain the following documents, where applicable:

• Civil Registry Certificate proving that the savings plan is a joint asset of the couple, taking into account the matrimonial property regime, in the case of joint ownership of the credit agreement covered; and/or
• If the credit agreement has not been signed with BBVA, a statement issued by the Other Credit Institution with information on the credit agreement.

3. Submit the reimbursement request form in person at a BBVA branch or by e-mail to resgateppr.pt@bbva.com.

Once the duly completed and instructed reimbursement request has been received, it will be processed within the legally and contractually established deadlines.

The retirement savings plans (PPR) products covered by this regime are:

• BBVA Estratégia Capital PPR
• BBVA Estratégia Acumulação PPR
• BBVA Estratégia Investimento PPR
• BBVA Equilibrado ISR PPR
• CVI PPR
• M3 Capital PPR
• M3 Acumulação PPR
• M3 Investimento PPR
• BBVA 2025 RSP Bonds
• BBVA 2027 RSP Bonds

Information updated on 01.01.2025.