Choosing between Treasury Direct or CDB is a common question for those looking to invest safely and profitably. Both are popular and accessible options for beginner and experienced investors. Understanding how these investments work helps you make the best decision according to your profile and goals.
What it is / How it works
Tesouro Direto is a program of the National Treasury that allows the purchase of government bonds over the internet, directly from the investor to the government. The investor lends money to the government and receives the amount invested plus interest, which can be prefixed, post-fixed or linked to inflation.
Meanwhile, the CDB (Bank Deposit Certificate) is a private security issued by banks to raise funds. By buying a CDB, the investor lends money to the bank and receives the amount plus interest, which can be prefixed, post-fixed (usually linked to the CDI) or hybrid.
Advantages and benefits
Treasury Direct is known for its security, since the government is less likely to default. It also offers daily liquidity, allowing redemption at any time on business days. It is possible to start investing with small amounts, making it accessible to many profiles.
CDBs, on the other hand, tend to offer more attractive return rates, especially at smaller banks or fintechs such as Inter or Will Bank, which compete by offering better yields. Some CDBs offer daily liquidity, while others have longer fixed terms, which can result in higher returns.
Precautions and points of attention
Despite its security, Treasury Direct suffers price fluctuations before maturity, mainly in prefixed and inflation-linked bonds. This can affect those who need to redeem before the term ends. CDBs, in turn, are guaranteed by the Credit Guarantee Fund (FGC) up to a certain amount, but above that the risk increases according to the issuing bank.
Another important point is the taxation that applies to both, following the regressive income tax table for fixed-income investments, which reduces the net return. Always compare the rates offered and the term, as well as the financial health of the institution issuing the CDB.
How to apply / get started
To invest in Treasury Direct, simply open an account with an authorized brokerage or bank, such as XP, Rico or Modal, and access the National Treasury platform to buy the bonds. The process is simple and can be done online in a few minutes.
In the case of CDBs, the investment is made through a bank or brokerage. Institutions such as Banco Pan, Agibank and digital banks like Neon offer different CDB options. It is important to evaluate the rate offered, the term and whether there is daily liquidity before investing.
Conclusion
Both Treasury Direct and CDBs are good investment options for those seeking returns with security. The Treasury is ideal for those seeking liquidity and stability, while the CDB can offer higher returns, especially at smaller institutions.
The choice should consider your profile, liquidity needs and goals. Diversifying between the two is also an efficient strategy to balance risk and return.
