Which Bank Yields the Most in Savings? Discover the Best Digital Accounts in 2024

The search for which bank yields the most in savings is an increasingly common question among Brazilians. The truth is that leaving funds idle in a traditional savings account is no longer the best profitability strategy. In 2024, digital banks revolutionized this scenario by offering accounts with automatic returns linked to the CDI, generating significantly higher returns.

Why Abandon Traditional Savings?

Currently, savings offers a return of 7.41% per year plus the Referential Rate (which is zero). This yield is updated only monthly, on the deposit anniversary date. In contrast, a digital account that yields 100% of the CDI generates an annual return of 10.40% for amounts kept for more than 30 days.

The difference is not trivial. Savings follows a fixed formula of 70% of the Selic rate, while the CDI is recalculated daily, tracking interbank market fluctuations in a much more dynamic way.

Understanding the CDI: The Basis of Returns

The CDI (Interbank Deposit Certificate) functions as a reference rate in the Brazilian financial market. It represents the average interest rate of short-term loans between banks and is used as a basis for various products: CDBs, LCIs, and investment funds.

When a bank offers a yield above 100% of the CDI, it means the investor receives more than the pure interbank rate. A product that yields 110% of the CDI, for example, provides even more attractive returns, especially during periods of rising Selic rates.

The 8 Largest Digital Banks and Their Yields

Neon: Up to 113% of the CDI

Neon offers a progressive proposal: starts at 100% of the CDI and increases this percentage every six months, reaching 113% after two years. The longer the money stays in the account, the lower the rate deducted, encouraging resource retention.

99Pay: Up to 110% of the CDI

The digital account from the mobility app offers up to 110% of the CDI for balances up to R$ 5,000. Above this amount, it combines 80% of the CDI + 110% of the CDI according to the distribution. A key feature: the yield occurs daily, including weekends, unlike other wallets that operate only during business hours. Additionally, it offers cashback on rides and recharges.

Mercado Pago: Up to 105% of the CDI

All deposited money yields at least 100% of the CDI. Those subscribing to the Meli+ (Mercado Livre loyalty program) and maintaining R$ 1,000 or more monthly in the account enjoy 105% of the CDI.

PicPay: Up to 102% of the CDI

Since 2012 in the market, PicPay offers the “Piggy Banks” feature to organize savings into customized categories. The yield of 102% of the CDI is calculated daily. Simulations show that R$ 1,000 invested for 24 months yields R$ 204.12, compared to only R$ 129.29 in savings.

Nubank: 100% of the CDI

One of the country’s largest digital banks offers automatic yield through a payment account (which is neither checking nor savings). The money is invested in Federal Public Securities and yields on all business days after the 31st day, unlike savings which yields monthly.

PagBank: 100% of the CDI

PagBank’s Rendeira Account offers automatic yield of 100% of the CDI on balances held for 30 days. It is a financial services platform from PagSeguro with a clear and straightforward functionality.

Iti (Itaú): Up to 100% of the CDI

Itaú’s digital account offers 100% of the CDI from the first business day through the “My Goals” feature, which works as digital envelopes to organize specific financial goals.

Banco PAN: Up to 100% of the CDI

PAN offers a tiered proposal: 10% of the CDI in the first 30 days and 100% of the CDI afterward. The automatic yield starts with balances from R$ 30, with no maximum limit.

Practical Comparison: Which Bank Yields the Most?

To identify which bank yields more in savings, it is necessary to consider not only the interest rate but also factors such as the duration of the funds and additional features.

If the goal is maximum profitability with long-term retention, Neon (113% CDI) leads. For those seeking daily flexibility, 99Pay offers 110% CDI with daily yields. For accounts with additional benefits and goal organization, Nubank and Iti provide more complete experiences at 100% of the CDI.

The 2024 Scenario: Diversification of Opportunities

In 2024, the digital account market with yields expanded significantly. Most offer between 100% and 113% of the CDI, representing substantial gains compared to the 7.41% annual savings rate.

Besides profitability, many accounts include extra features: organizing savings into categories, cashback on transactions, and daily yields on weekdays and weekends. This combination of financial return and practicality makes these accounts attractive to different investor profiles.

Conclusion: Which to Choose?

The answer to which bank yields more in savings is not singular. It depends on your profile: seeking maximum profitability, preference for user-friendly interface, interest in extra benefits, or a combination of these factors.

The important thing is to recognize that in a high-interest-rate scenario, keeping resources in traditional savings accounts leaves potential earnings on the table. Digital banks offer proven superior alternatives, with yields that can mean hundreds of reais more annually on an initial R$ 1,000 investment.

Maximizing returns on savings is essential in 2024. These digital accounts not only provide more attractive yields but also offer flexibility, personal finance organization, and additional benefits that traditional savings cannot match.