Saving is the gateway for anyone who wants to start saving money. One of the most affordable investment options (because of the practicality of being linked to the current account and exemption from fees), it is also the most popular among Brazilians (more than 80% of those who invest opt for savings accounts) .
Nothing more fair, then, than knowing everything about Brazilians’ dearest investment option. Check out 6 important information on savings interest:
Interest on savings is 0.5% pa + referential rate (TR) …
For applications made before May 4, 2012 and after August 28, 2013, this is the monthly amount of savings interest. This is the traditional rule of remuneration, which has been in effect since the Selic rate returned to the level of 9% per year.
For applications made between May 4, 2012 and August 28, 2013, following the new rules of saving. According to these rules, whenever the Selic rate is used, it will be changed in the traditional rule of calculation of savings interest.
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Savings interest rates are the lowest on the market:
Although this is the preferred investment option for Brazilians, saving interest rates are the least inviting of the market. This is because it is possible to take the resources from there at any time of the month, without charging fees (for up to two monthly withdrawals). This puts savings to the ideal choice to house your emergency reserve.
Read more: What to consider when creating your financial reserve?
Interest on savings is not hitting inflation:
One of the big concerns at the time you are going to make an investment is whether the expected return will be at least above inflation. In the case of savings, the account is negative: in the last 12 months (from September 2013 to August 2014), while the result was 6.28%, the IPCA, the official Brazilian inflation index, accumulated a rise of 6.51% in the last 12 months.
Interest on savings is exempt from IR:
In order to favor Brazilians’ preferred investment option, the government does not charge IR on interest earned on funds deposited in savings.
Interest on savings is levied on a monthly basis:
The anniversary of the interest savings is on every application date. For example, if you placed an amount on the 30th, you will only receive the monthly interest on the 30th of the following month. Therefore, you should be careful not to withdraw funds before the anniversary date, otherwise you will lose the income for that month.