CDB vs Savings Account

CDB vs. savings account ("poupança")

Once Selic sits above 8.5% per year, the savings yield locks at 0.5% per month + TR (Reference Rate), which today works out to about 6.17% per year (it shifts to 70% of Selic when Selic is below 8.5%). A CDB paying 100% of CDI tracks Selic pretty closely, around 14.9% gross per year in 2024-2026. Apply the regressive income tax (22.5% down to 15%, depending on how long you held), and the CDB still nets roughly 12.7% per year, about twice what savings gives you. Both carry FGC protection up to R$ 250,000 per CPF per institution.

Applications

Think of this calculator as a first step into financial literacy. It makes plain that the "default" savings account is one of the weakest fixed-income options on the Brazilian market. It fits a first investment, an emergency fund built on CDBs with daily liquidity, and a side-by-side look at offers from digital and traditional banks.

FAQ

Is CDB safe? Yes. CDBs from FGC-eligible institutions are guaranteed up to R$ 250,000 per CPF per institution, with an R$ 1,000,000 global limit every 4 years. That is the same level of protection the savings account gets.

Why do CDBs pay income tax and savings don't? The savings account enjoys a tax exemption written into law. CDBs follow the regressive IR instead: 22.5% up to 180 days, 20% up to 360, 17.5% up to 720, and 15% above 720 days.

What does "100% of CDI" mean? The CDI (Interbank Deposit Certificate) runs about 0.10 percentage point below Selic. So a CDB at 100% of CDI yields nearly the same as Selic. The more aggressive digital banks push 105-120% of CDI on daily-liquidity products.

When is savings worth it? Pretty much only when Selic falls below 8.5% per year, which has been rare in the last decade. In that case savings yields 70% of Selic + TR, and skipping the IR can offset a CDB's higher gross yield. Otherwise a CDB at 100%+ CDI comes out ahead.