The savings account is the most popular type of investment in the country, as it offers almost no risk, unlike the Stock Exchange and shares. If the bank in which you have a savings account goes bankrupt, the government will refund you up to R $ 60,000. As a result of your low risk, your income will also be low, with pre-determined monthly income values. Savings are regulated by the Central Bank, with a remuneration of 0.5% per month (6.17% a.a.), plus the TR variation. TR is an index created by the government to supplement savings income. It is calculated from the SELIC rate (which indicates the interest rate in the country).
The interest rates on savings accounts vary by institution but are generally lower than interest rates on longer-term deposits, such as CDs or money market accounts. ... Investors use these unique savings accounts to pay for specific items and they have special rules and tax implications.
