Savings are one of the most traditional forms of investment on the market. When it comes to choosing a way to save money, it is still the first choice of many Brazilians. Despite offering low risk and being considered a safe investment and possibility of return, the current economic situation of the country has left this application very unprofitable.
In June of this year, the book had the worst performance since October 2013 and for seven consecutive months, the savings did not compensate nor the inflation. Betting on this type of investment, during this period of the country, can still cause in the loss of purchasing power.
Understand how savings interest rates work and see the advantages and disadvantages of this type of investment.
What are the interest rates?
Since May 2012, it has been established that whenever the Special System of Settlement and Custody (Selic) – the basic interest rate of the Country – is 8.5% per year or less, the savings account will yield 70% of it, plus Reference Rate (TR) – calculated and disclosed daily by the Central Bank (BC).
In the so-called old savings account (deposits made before May 3, 2012), interest is calculated according to the old model – 6.17% per year or 0.5% per month plus the Referential Rate.
It is important to remember that the interest rate of savings does not change from bank to bank: it is standard. It is no use moving the money to another institution because the profitability will be exactly the same.
How does the remuneration of savings deposits work?
The remuneration of savings deposits is calculated on the basis of the lowest balance of each income period, which is the current month, and which is the day on which the first savings deposit was made.
For example, if savings were opened on days 29, 30 and 31, the first day of the following month is considered the anniversary date. In addition, the income changes month by month.
How can I simulate the income from my savings?
The best way to simulate your savings and access the correct amounts is by using the Citizen’s Calculator , which is available from the Central Bank. Simply state the date the deposit was made (starting date), the end date, the amount to be corrected (the amount you deposited) and tell whether the correction rule is new or old.
Although other savings income simulators are available on the Internet, the Citizen’s Calculator is the most reliable method. Its differential is that it shows the income for different periods (of a year or a month), which are the most common, in addition to correcting the values reliably.
Is it advantageous to invest in the current situation in the country?
Profits from savings income are currently under inflation and, as a result, this has not been the most appropriate investment, even if it is safe and simple to use.
Even without charging the administration fee, the modality loses to other forms of investment, such as CDI , LCI , LCA and Treasury Direct . So to make your money work in your favor, it pays to research the best investment option for you, instead of saving your money in savings and not having any kind of return.