If you're torn between investing in Tesouro Direto or CDB, know that this is a common question for people who are just starting to invest money. Both are accessible and popular investment options in Brazil, but understanding which one yields more for you depends on several factors. In this article, we'll explain what these investments are, how they work, their advantages and precautions, and guide you on how to start investing safely.
What it is / How it works
Tesouro Direto is a federal government program that lets you buy government bonds over the internet. When you buy a Treasury bond, you lend money to the government, which repays that amount with interest on the agreed term. Bonds may offer prefixed, post-fixed, or inflation-linked returns, providing different risk and return profiles.
Já o CDB (Certificado de Depósito Bancário) é um título emitido por bancos para captar recursos. Funciona como um empréstimo para a instituição financeira, que paga ao investidor o valor aplicado com juros. Os CDBs também podem ter rendimento prefixado, pós-fixado ou atrelado à inflação, mas o rendimento está diretamente ligado à saúde financeira do banco emissor.
Advantages and benefits
Tesouro Direto has the advantage of being considered a very safe investment, as it is guaranteed by the federal government. It also offers options for different profiles, such as bonds that protect against inflation (Tesouro IPCA+). The investment is accessible, with initial investments starting at low amounts, and some bonds offer daily liquidity, allowing quick redemption.
CDBs, on the other hand, can offer higher returns, especially if issued by smaller or less well-known banks, since they need to attract investors with competitive rates. Some CDBs are backed by the FGC (Credit Guarantee Fund) up to R$ 250 thousand per CPF per institution, which provides an additional layer of security.
Precautions and points of attention
It's important to consider the maturity of the Tesouro Direto bond, since redeeming it before maturity can affect the return and cause losses. In addition, there is regressive Income Tax, meaning that those who hold the investment longer pay less tax.
With CDBs, the main precaution is to assess the soundness of the issuing bank, since credit risk can be higher at smaller institutions. Also pay attention to maturity and liquidity, as some CDBs have grace periods and do not allow early redemption without losing earnings.
How to apply / get started
To invest in Tesouro Direto, simply open an account with a brokerage or bank that offers access to the program, such as XP, Rico, Modal, or Itaú. The process is entirely digital, and you choose the bond according to your goal and profile. The minimum amount to start is usually low.
To invest in CDBs, look for banks or fintechs that offer this product, such as Banco Inter, Banco Bradesco, or fintechs like PagBank. You can invest through the app or internet banking. It's important to compare rates and check whether the chosen CDB is covered by the FGC.
Conclusion
Between Tesouro Direto and CDB, there is no single answer as to which yields more for you. The return depends on the term, the issuer in the case of CDBs, the type of bond or CDB, and your investment profile. Tesouro Direto is usually the safer and more transparent option, ideal for those seeking protection against inflation. CDBs can be more profitable, especially if you look at bonds from smaller banks.
The best path is to evaluate your goals, your need for liquidity, and your appetite for risk. Investing with knowledge and planning is essential to achieve good results in the long run.
