N26 confirms 100% yield of CDI without IOF discount

N26, the first Fincare in Brazil, shared the news that many people were waiting for after changes to the Nubank account. Check out!

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N26, the first Fincare in Brazil, shared the news that many people were waiting for after changes to the Nubank account. This is the account with daily income of 100% of the CDI. Customers who wish to invest can start with up to R$0.01 per day, with no maximum amount, using “spaces”.

Fincare is an expression that has been used by N26, a German fintech founded in 2013 and available in more than 20 countries in Europe. In short, the company unites fintechs that aim to provide health and financial education services.

What are the N26 “spaces”?

Spaces are spaces determined to improve the customer’s financial organization in the account. That is, they work as sub-accounts, with special income from money. The best part is that everything is carried out without taxation when transferring the money to the main account.

The purpose of spaces is to transform the concept of digital account, so that the service becomes less rigid and automatic. For this reason, spaces can be used for several purposes, such as:

  • Payment of fixed bills;
  • Daily expenses;
  • Travel, among other purposes.

How does the CDI yield work?

After the company announced its arrival in Brazil, it confirmed the automatic yield of 100% of the CDI every day. In short, this means that the client will receive the financial return of his application daily, according to the DI rate and the invested balance.

Eduardo Prota, CEO of N26 explained that, if the client invests BRL 500 in the space, for example, the net income would be BRL 0.19 per day or BRL 4.18 per month, because of the DI rate of 13 .15%.

N26 in Brazil

N26 arrived in Brazil with the proposal of not being just a digital bank in the market. The company intends to expand the fintech concept, bringing the idea of ​​Fincare, which has more suitable proposals for the care and financial organization for customers.

So far, more than six thousand spaces have been created by Insiders (first users who tested N26 accounts). The most commonly used purposes for depositing money are future plans and daily and recurring expenses. However, spaces have also been widely used for travel, housing, savings and entertainment.

Due to the arrival of the N26 on Brazilian soil, the market for digital banks and fintechs may undergo major changes.

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Image: Sulastri Sulastri / Shutterstock.com

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