Fixed Income CDI Percentage Yield Calculator

How "% of CDI" yields work

When a CDB is sold as "110% of CDI", it pays 110% of the CDI rate. You get the effective annual rate from i_efetiva = CDI · (percent / 100), and the amount at maturity from M = C · (1 + i_efetiva)^(d/252). CDI shadows the Selic policy rate almost exactly, sitting at CDI ≈ Selic − 0.1 percentage points. So with Selic at 15%, CDI lands near 14.9%, and 110% of that works out to roughly 16.4% per year gross.

Take R$ 10,000 at 110% of CDI, with CDI = 14.9%, over 2 years: the gross amount lands near R$ 13,540, a gain of 35.4%. Since most CDBs, LCIs and LCAs in Brazil are pegged to CDI, that percentage becomes the common yardstick you use to line them up against each other.

Brazilian context

In Brazil's fixed-income market, "% of CDI" is the reference everyone quotes. It lets you put a CDB at 110% of CDI, a tax-exempt LCI at 95%, and the Tesouro Selic at around 100% on the same scale and compare them head to head. Because CDI moves with Selic, the effective rate keeps drifting, which is exactly when it helps to weigh post-fixed papers against pre-fixed alternatives through an easing or tightening cycle.

FAQ

What does 100% of CDI mean? The product pays the CDI rate exactly (≈ Selic). Think of it as the floor you'd expect from a decent bank CDB.

Is 110% of CDI good? For a mid-sized bank with FGC coverage, it's reasonable. Smaller banks push 115-130% because they carry more credit risk, though the FGC still insures you up to R$ 250,000.

What about LCI/LCA at 95%? They're tax-exempt, which means 95% of CDI in an LCI nets out to about 112% of CDI in a CDB once you subtract the IR.

What if Selic falls? Your yield falls with it, because post-fixed products track the policy rate. Once an easing cycle gets going, pre-fixed or IPCA+ papers may start to look more attractive.