Find out how much BRL 1,000 earns in savings, CDB and Treasury with Selic at 10.75%

Fixed income investments increased returns after the Central Bank raised the basic interest rate (Selic) by 1.5 percentage points last Wednesday (2), to 10.75% per year.

To demonstrate in a simplified way how this affects financial investments, Andrew Storfer, director of economics at Anefac (National Association of Finance Executives), simulated the yield of R$ 1,000 in the most well-known conservative investments for periods ranging from six months to three years old.

In the calculations performed by Storfer, CDBs (Bank Deposit Certificates) offered by medium-sized banks represent the most advantageous options for all applications with redemption from one year and one day.

It is after this period that the IR (Income Tax) discount on income drops from 20% to 17.5%. The rate still retreats to 15% for application with more than two years.

In times of high interest rates, CDBs allow higher returns due to the rate of return from 110% of the CDI (Interbank Deposit Certificate). This was the index considered in the simulation. This product can pay fees of 140% of the CDI for higher value investments.

CDI or DI rate is the average index of short-term loan contracts negotiated exclusively between banking institutions. The DI interest considered in the simulation was 10.75% per year. Despite taking the Selic as a reference, the DI rate fluctuates daily, according to market expectations on credit.

In the examples calculated by Anefac, in an application with more than 18 months and one day, when the CDB reaches the best ratio between income and IR discount, an initial value of R$ 1,000 rises to R$ 1,150.58. The profitability in the range is 15.06%.

If this same initial amount of R$1,000 remained in a savings account for the same period, the saver would make a redemption of R$1,093.96. The yield is 9.4%. The gain from savings is only 62% of that obtained through the CDB of an average bank.

The most popular investment in the country, savings accounts offer the worst return among all the options analyzed, despite being exempt from income tax.

The survey shows, however, that not just any CDB guarantees the greatest profit. The investment offered by large banks is less competitive.

For those who apply a relatively low initial value, as is the case of the simulated examples, the remuneration is only 93% of the CDI. Under these conditions, the investment loses in profitability for the other investments evaluated, with the exception of savings.

For applications at intervals of more than six months and less than a year and a day, LCIs and LCAs (Letters of Real Estate and Agribusiness Credit) bring the best return.

The remuneration of 90% of the CDI considered in the simulation proves to be advantageous in the short-term scenario because it is exempt from Income Tax. Other more competitive fixed-income investments, such as CDBs, have a 20% rate for redemptions made in that period.

Treasury Direct Selic and Conservative DI Fund were the other options analyzed. Both lag behind when compared to the profitability of CDBs of medium-sized banks and of LCIs and LCAs, but they proved to be advantageous options in comparison with CDBs of large banks and, mainly, in relation to savings accounts.

Management and custody fees were not considered for the Treasury and DI Fund simulations.

All examples are for demonstration purposes only. Interest and profitability may vary according to the fluctuation of rates practiced in the open market. The amount invested, the term of application, and the conditions offered by financial institutions to their customers also affect profitability.

By opting for investments with greater liquidity and more conservative, the simulations carried out by Anefac did not consider investments in incentivized debentures. This type of application is also considered to be fixed income. It is an alternative that usually offers higher profitability when compared to traditional applications, but it is also riskier.

Whoever buys this type of security in the capital market is, in practice, lending money to the company that issued this paper. In return, the investor receives interest. The risky part of the investment is precisely in the ability of the issuing company to honor its commitment.

The simulations also do not consider the real interest, resulting from the subtraction of the inflation index from the estimated interest rate for a given period.

With the Selic having returned to double digits and an increase in the cost of living estimated at 5.38% for 2022, all the best-known investments and fixed income began to pay real interest.