Income from savings changes with a new increase in the Selic rate; understand the new rules

Amid soaring inflation, the Central Bank’s Monetary Policy Committee (Copom) once again raised the basic interest rate, the Selic, to 9.25% per year. The change brings changes to the savings rule.

When the basic interest rate is equal to or below 8.5% per year, savings yield 70% of the Selic plus the TR (Referential Rate) variation, which is now zeroed, which gives about 0.44% to the month. When the Selic exceeds 8.5%, it returns to yield according to the old rule, of 0.5% per month plus TR.

Despite the high, those who like this type of investment do not need to withdraw what they invested in recent years to reinvest now, with a more favorable rate.

According to Mario Cezar Oliveira, financial educator at Abefin ​​(Brazilian Association of Financial Educators), the entire amount invested in savings, with the increase in the Selic, should yield 0.5% per month plus TR.

“The rule applies to all deposits from 2012 onwards. Therefore, it is not necessary to take the deposit and reapply”, he said.

For him, despite the higher income, savings continue to be less attractive than other fixed income products. The points in favor of this investment are others.

“Savings are safe and practical. So, it is not the focus of profitability because, thinking of real profitability, savings already bring a negative profitability,” he said.

savings will keep losing

According to Simone Pasianotto, chief economist at Reag Investimentos, despite the change in the rule on the profitability of savings in Brazil, it will continue to lose out to inflation and will also remain less interesting than other investments, such as Tesouro Direto or CDBs.

“Even if the remuneration of savings increases a little, there are other fixed income products that are more interesting in terms of expected profitability. In other words, the book would still be behind securities like the Selic Treasury or CDBs, depending on their remuneration”, he said.

According to the economist, savings still lose nominally to inflation, which has already reached more than 10% in the last twelve months. Therefore, investors need to look for products with higher yields to protect themselves from this rise in prices.

“Even with a slightly higher remuneration, savings continue to lose out to inflation. According to data from the consulting firm Economática, in the last 12 months, the profitability of savings, discounted the accumulated inflation of 10.67%, was negative by 7.59%, which would be the worst profitability in real terms of the savings account in the last three decades,” he said.

Central Bank studies changing savings rule

The Central Bank is studying changing the rule for correction of savings accounts, according to the institution’s president, Roberto Campos Neto. He did not give details of how this change would be, but the idea is to bring savings closer to the interest on real estate financing.

The change is an old demand from real estate players, whose main source of funds comes from savings.

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