Monthly Poupança Yield Tracker

Brazilian savings (Poupança) monthly yield: rules and formula

Brazilian Poupança credits interest only on the monthly anniversary of each deposit. The rate follows the Selic: Selic > 8.5% a.a. → 0.5% per month + TR; Selic ≤ 8.5% a.a. → 70% of Selic / 12 + TR. TR (Taxa Referencial) is currently close to zero. Anyone withdrawing before the anniversary loses that month's yield in full. Example with the May/2026 Selic at 15% a.a.: monthly rate ≈ 0.5% + TR, giving about 6.17% a.a. — well below an inflation-protected Tesouro Selic, which delivers roughly the full Selic gross and ≈12.7% a.a. net after the 22.5%/15% IR bracket (after 2 years). Poupança's edge is being tax-free, FGC-protected (up to R$ 250,000 per CPF/institution) and trivial to operate.

Applications: emergency reserve, financial education, first bank account

Useful for an emergency reserve (loses to Tesouro Selic in return, wins on simplicity), basic financial education (the first product most Brazilians ever own), first child or teenager savings account, and short-term parking when the holder will not actively manage the money.

FAQ

Why does Poupança yield less than Tesouro Selic? Because the rule caps the yield at 0.5%/month plus TR even when the Selic is much higher, while Tesouro Selic tracks the full rate.

What happens if I withdraw before the anniversary? You lose the whole month's interest on the amount withdrawn — withdraw only on or after the deposit anniversary.

Does it pay income tax? No — Poupança is exempt from IR for individuals, which partially offsets its lower nominal rate.

Is it safe? Yes — covered by the FGC up to R$ 250,000 per CPF and per institution (with a global cap of R$ 1 million every 4 years).