One of the biggest attractions of several digital accounts, such as Nubank e PicPay, is the automatic yield. With him, the money that stands still yields a little bit every day. The traditional banks, little by little, are moving to offer similar products. O Bank of Brazil is one of those: now, he has the BB Rende Fácilbut don’t get excited: it’s not a big deal compared to other alternatives on the market.
BB Rende Fácil works like this: at the end of the day, the account balance is applied automatically; when spending, the money is redeemed without the customer having to do anything.
The operation, therefore, is quite similar to that of other digital accounts. The difference is in the yield.
BB Rende Fácil starts at 10% of CDI
According to the table displayed by the bank when adhering to the product, the yield starts at 10% of the CDI and increases over time to 100% of the CDI.
|1 to 60 days||10% of CDI|
|61 to 120 days||20% of CDI|
|121 to 180 days||30% of CDI|
|181 to 360 days||50% of CDI|
|361 to 720 days||100% of CDI|
CDI is the acronym for Interbank Deposit Certificate, and is the name given to an interest rate applied to loans made by one bank to another.
It usually follows closely the Selic, the basic interest rate of the Brazilian economy. Currently, in March 2022, it is at 10.75% per year.
A yield of 10% of CDI, for example, gives something around 1.07% in a year. In a month, that’s 0.08% interest, not including deducted taxes.
In other digital accounts, the yield is 100% of the CDI from the beginning. This is the case of Nubank and Mercado Pago, for example. PicPay even surpasses that and offers 105% CDI.
That is: in other banks, in the short term, it is possible to obtain a yield at least ten times greater in the short term.
Over time, the distance decreases. The adhesion term explains that, when the money in Rende Fácil enters another range, the income applies to the entire period.
To explain better: an amount that has been in the application for 90 days has interest of 20% of the CDI on these 90 days, not only on the third month.
Therefore, after a year, the money that has been in the account all this time yields 100% of the CDI and “ties” with other digital accounts.
Obviously, we’re talking about an amount here that won’t make anyone rich. For most people, the money that sits in the account should barely yield any amount in the double digits, even at 100% of the CDI.
Even so, Banco do Brasil’s Rende Fácil draws attention for paying so little before a year. It is far from being the best solution, and that’s considering the bank’s own products.
BB itself has alternatives that yield more
The Banco do Brasil current account offers the possibility of automatically redeeming investments such as savings, CDBs and some fixed income funds. All of them have yields well above 10% of the CDI rate for the first two months of Rende Fácil.
Savings has the disadvantage of only paying interest monthly, and funds tend to have high management fees, which reduce profitability.
The CDB remains the best alternative, but it remains worse than digital banks: yield of 92% of CDI and minimum transaction of R$ 500.
To activate this feature, tap your balance on the app’s home screen and then choose the option “Set up automatic redemption”. Then, just configure the CDB to be used if the money in the checking account runs out.
In this case, the account balance is not applied automatically. Even so, you can make the investment when you receive your salary, for example, and redeem it while paying the bills — or simply open a digital account at another bank that earns more.