THE savings it is the first investment that Brazilians think of when they are going to save money. In addition to the low risk, the modality offers easy access, as it is available to almost anyone who has an open checking account. But how much does savings yield and what are the benefits offered by it? Find out below!
How much does the savings yield?
Savings is a low-risk investment that works like a loan you make to the bank. That is, when depositing an amount in your savings account, it is the financial institution that pays you an interest rate for. Therefore, money brings a percentage of income.
Savings profitability is monthly, calculated from the economy’s basic interest rate (Selic) and the Referential Rate (TR) — rate stipulated by the Central Bank to correct investments in savings, FGTS and government bonds.
To calculate the yield, the Central Bank uses two variations for recent investments, made as of 05/04/2012:
- If the Selic rate is above 8.5% per annumsavings will yield 0.5% + TR;
- If the Selic rate is equal to or below 8.5% per annumwill yield 70% of Selic + TR.
It is worth remembering that the Central Bank discloses the monthly remuneration of savings on your website. So you can have more control over your investments.
How to simulate savings income
You don’t need to do the math at the tip of a pencil to know how much your saved money will pay off. On the internet, there are some simulators to bring an idea of income over the next few months or years. Check out some options below.
The website simulatordepoupanca.net allows you to predict how much your applications will bring to your pocket. In it, you need to enter an initial capital and monthly contributions. Then, just enter the rate of return, the term of the investment and check the result.
The values will appear on the side. That way, you can check the amount invested separately from the total interest. The site also offers a time graph and a table to check the evolution of the investment.
O furniture also provides a free calculator to simulate savings income. As with the Savings Simulator, you need to enter the initial and monthly amounts. Then, just choose the investment period and press the “Calculate” button to simulate.
The results will be presented below with the final total amount, the total amount invested and the total in interest. The site also offers a comparison between savings and other modalities, such as the CDB.
Savings are tax exempt, that is, the investor does not pay Income Tax (IR) and Tax on Financial Operations (IOF). Also, opening an account is pretty easy.
Several banks offer this feature. In many cases, all you need to do is open a checking account at a branch to start making investments in your savings account. The procedure for opening a savings account varies from bank to bank, but the income is the same for everyone.
The investor can make withdrawals whenever he wants, although deposits of earnings are made on the account’s anniversary date – the day of the month the account was opened. So, if you redeem any amount of savings before your birthday, your earnings will be lower. It is at the discretion of the investor.
In addition to savings, there are other investments with reduced risk, such as CDB and Treasury Direct. There are also modalities more risky, such as ETFs, cryptocurrencies and stocks. And the good news is that many digital banks offer these options through the application itself.
In addition to financial institution apps, there are apps to track investments. So, you can check if your money is working well or not, in addition to other vital information, directly from your cell phone.