How was savings income after Selic’s rise?

How was savings income after Selic's rise?

The rise in the Selic rate also hurts savings, although to a lesser extent. Below, find out what the new income looks like.

Estimated reading time: of them minutes

On June 15, the Central Bank Copom raised the Selic rate from 12.75% to 13.25% per annum. Therefore, this decision affects the return of fixed income investments. Therefore, many people wonder how savings investments are with the Selic adjustment. So, keep reading below and see the answer.

After the Selic rate hike, what was the savings income like?

The rise in the Selic rate also affects savings, although to a lesser extent. Indeed, as soon as the Selic rate is higher than 8.5% per year, the profitability of this investment ceases to increase linearly. In other words, the gain is frozen in this case.

When the Selic exceeds 8.5% per year, the return on savings is limited to 0.5% per month. Or, at 6.17% per year + the variation of the TR (Reference Rate). Meanwhile, when the interest rate is at or below 8.5%, the yield is 70% of the Selic + the TR.

By investing 1,000 BRL of savings in 1 year, the person will have 1,069.11 BRL after this period (taking into account the Reference Rate provided for the period, of 0.70% per year). According to the simulation of C6 Bank financial educator Liao Yu Chieh, the income of 1,000 BRL after one year looks like this:

  • Savings: BRL1,069.11
  • Treasure of Selic: R$1,114.51
  • CBD which yields 100% of the CDI: R$1,114.51
  • CBD which yields 103% of CDI: R$1,118.18

Finally, it is important to point out that fixed income securities are subject to income tax by the progressive scale – and that the charge does not apply in the case of savings. In the event of redemptions between 361 days and 720 days, there is a rate of 17.50% on the return. This percentage was used in the simulation above.

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Image: MEE KO DONG / Shutterstock.com

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