Do you have some stagnant savings and do not understand how the interest rate works? Find out now how it varies!
One of the preferred investments of Brazilians, the savings account has several supporters can be considered a safe and easy investment, accessible to all. However, in the current economic situation, saving is not considered the best investment option due to its low profitability which, today, can not compensate for the increase price. Understand how the interest rate variation of savings happens and see if this is even the best investment for you:
Change in the interest rate on savings
Always monthly, the savings income is updated on the date the first deposit was made (anniversary of the savings). The yield varies from month to month. Before investing in savings, it is important to know the rules governing the yield of this type of investment have changed in May 2012. Currently, whenever the Selic rate is 8.5% per year or less, savings yields 70% of the Selic plus the Referential Rate (TR), which is calculated and disclosed every day by the Central Bank. In the case of old savings, which comprises deposits made before May 3, 2012, income remains in the old model: 0.5% per month or 6.17% per year plus TR. The savings interest rate is standard, not suffering any kind of variation from bank to bank.
Why is not it saving money worth it?
Although in past periods savings have not been a bad investment, in many cases outperforming DI funds, currently, with recent Selic ups, this investment model is not considered a good alternative, even for those who have little money to invest. To get an idea, by leaving your money in savings for a month, considering the current interest rate, the profitability projection is only 0.66% (new savings). The projection for six months is yield of 4.02% and 12 months, 8.21%.
Profitability of savings in 2015
In 2015, the profitability of savings was even lower than projections predicted:
January – 0.58%
February – 0.60%
March – 0.63%
April – 0.60%
Alternatives to savings
Saving is the easiest investment. So it is the most used. However, those who are looking for more profitability should look for alternatives in the market. Currently, the Treasury Direct is a good option. As safe as savings, it is considered the best option to apply for long-term and low risk thinking. Unlike savings, banks charge management fees for investments in the Treasury. An alternative for those who want to save an amount that exceeds $ 1,000 is to seek brokerages that do not cover this fee.
Savings can only be considered a good option for those who want to leave the money invested in the short term, for up to three months. Otherwise, with current profitability, the investment is not paying off. Even with the security that it brings you and the fact that you do not charge administration fees, to make your money work for you, study other forms of investment, such as Direct Treasury, LCIs, LCAs and CDIs, which offer better profitability.