Last Wednesday, May 4th, the Copom decided to raise the Selic to 12.75% per year, the tenth consecutive increase. Thus, it is important to understand which types of investments are advantageous at this time. See how much BRL 1000 earns on the account Nubank and in Savings.
The difference in income between Nubank and Savings
The Nubank account offers an automatic income of 100% of CDI (Interbank Deposit Certificate). This guarantees a return of 12.65% per year, a value very similar to the basic interest rate (Selic). Therefore, the Nubank account has an income of approximately 1% per month.
Traditional savings, on the other hand, guarantee individuals a monthly profitability of 0.50%. This is the value fixed when the Selic Rate is above 8.5%. See below the difference in profitability of the Nubank and Savings account within two years:
|Money applied||BRL 1 thousand||BRL 1 thousand|
|gross total balance||BRL 1,130.61||BRL 1,269|
|Total net balance (excluding Income Tax)||BRL 1,130.61||BRL 1,221.93|
|gross total income||BRL 130.61||BRL 269|
|total net income||BRL 130.61||BRL 221.93|
In addition to greater profitability, another advantage of the Nubank account is the freedom to withdraw money at any time, without losses. It is worth remembering that in savings the value can only be rescued every 30 days.
Learn more about NuConta
As mentioned earlier, the income from the Nubank account is higher than the savings account. Therefore, it is important to know how to save money in digital bank account. The process is quite simple and must be done through the institution’s application.
The first step to save money at Nubank is to be a user of the institution. Currently, any citizen over the age of 18 who has a smartphone compatible with the digital bank can open an account.
After opening the account, you will need to access the fintech application and click on “Account”. Then, the user must click on “Saved money” and “Save” located at the bottom of the page.
The next step is to enter the value you want to save. For this, the money must already be in the checking account of user. Finally, it will be necessary to define when it will be possible to redeem the money. Redemption possibilities may vary according to the type of income.
It is worth mentioning that on the Nubank website it is possible to use a simulator to check how much the money would yield in the digital bank compared to savings. “Nubank was born to simplify people’s lives and give them back control over their financial lives. That’s why we have an easy way to visualize the income of our digital account and understand if it’s right for you: a Nubank account simulator”, informs the company. fintech.
The income simulator Nubank enables digital bank users to analyze different scenarios. Therefore, it is possible to change the amount of the initial deposit and the one added per month to check what the yield would be in various situations.