the savings has more than BRL 1 trillion invested, according to the Central Bank, and remains the Brazilian’s favorite application. The passbook is considered one of the safest options for saving money, but it offers one of the lowest returns on the market. And even with the economy’s interest rates (Selic rate) higher, it continues to lose to inflation.
O savings income today is 70% of CDI (Certificate of Interbank Deposit), loan securities traded between banks. This rate varies from day to day, but closely follows the Selic, currently at 5.25% per year. Thus, the profitability of savings is still lower than the economy’s interest (something around 3.675% per year).
In practice, savers lose purchasing power when they leave money in the passbook, as the accumulated inflation in the last twelve months is around 9%. But in addition to security, savings have the attraction of daily liquidity, that is, the money invested can be redeemed at any time. There is also no Income Tax (IR) charge on the application’s income.
Financial planners heard by CNN Brasil Business listed other applications with similar characteristics to savings, but offering greater returns. The saver who decides to leave the passbook, however, needs to define objectives for the application.
“If it is for emergency reserve, it must necessarily be a post-fixed investment [indexado a uma taxa] and with daily liquidity”, says financial planner Jaques Cohen, noting that there is no investment without risk. “There are credit, liquidity and market risk. And then, depending on the investor’s time horizon, we can determine what these investments would be”, he says.
O title issued by the National Treasury it is even considered safer than savings. “It’s as if the investor is lending money to the government. Therefore, it is the government that assumes the guarantee of the loan”, says Andres Montano, financial planner. As its name suggests, the Treasury Selic yields according to the economy’s interest, but unlike savings accounts, it pays 100% of the rate.
The bond’s liquidity is also daily, that is, the investor can redeem the funds when needed. The Treasury Selic also guarantees that profitability will be higher if interest rates rise. It is not like that in savings: if the Selic rate exceeds 8.5% per year, the savings income is locked at 0.5% per month plus the Referential Rate (TR), which is now zeroed.
“The profitability of savings is around 6% per year with higher interest rates and, therefore, the Treasury Selic will give more return”, says Júnior Monteiro, investment consultant and founding partner of Six Capital.
The Selic Treasury, however, is not exempt from income tax. The investment income is taxed according to the investment period, and the rate ranges from 22.5% (in investments of up to 180 days) to 15% (over 720 days).
O Bank Deposit Certificate is a title of fixed income issued by banks. In practice, the investor lends money to the financial institution and receives interest for it. The CDB can be pre-fixed or post-fixed, and it is possible to find options that pay more than 100% of the CDI. The security’s liquidity, however, can vary and, in some cases, the resources can only be accessed again at the maturity of the CDB.
“Many have daily liquidity, but some only on term and this needs to be observed depending on the investor’s objective”, emphasizes Monteiro.
Andres Montano says that CDBs with daily liquidity are more common in digital banks, and investors need to know the quality of the credit they are acquiring. “The recommended thing is to look for more solid institutions, so that the investor feels secure”, says the planner.
The CDB has a guarantee of FGC (Credit Guarantee Fund), which covers investments of up to R$ 250,000 in case of bankruptcy of the financial institution. “But it is important to remember that even with an FGC, an emergency reserve cannot wait for the reimbursement time to fall into the balance”, warns Jaques Cohen.
You funds are like investment condominiums in which the residents, in this case the quota holders, invest resources individually and the amount is applied according to a strategy. The function of the Referenced DI Fixed Income Funds, or simply DI Funds, is to guarantee the shareholder a return of 100% of the CDI. To do this, the fund manager will choose which securities to invest in.
“Despite not having FGC coverage, these funds are composed 95% of government bonds of different types and with different maturities. This also brings security to investors”, says Andres Montano.
The modality also has daily liquidity, but like all investment funds, it is important that investors observe the amount of administration fees and other fees that may be charged by the Treasury and by B3.