Before talking about how to open a savings account, it is important to mention that the savings account is one of the most popular forms of investment in Brazil. Mainly because of your income security.

In this sense, savings was really created to save money. Not necessarily to make moves. However, many people choose this modality because it is free of fees. In addition, some banks even offer services such as a limited amount for withdrawals and transfers. 

In summary, the savings account earns according to the time the customer left the money in storage. Therefore, it yields from the Selic plus the Referential Rate. Therefore, it is necessary to leave the money for at least one month without movement in order to have income.

In today's article, we'll show you how to open a savings account. Continue reading and check it out!

Opening an online savings account has become possible with the modernization of banks. However, not all banks offer this option. An example of a bank that allows online requests is Banco do Brasil. To do this, just download the Banco do Brasil application on your cell phone. Afterwards, just enter your data and wait for the institution's response.

As we mentioned above, Banco do Brasil already offers the option of opening a savings account via cell phone. So, download the application for iOS or Android and register. Afterwards, just make the first application and your account will already be working.

In short, when choosing a bank to open a savings account, doubts may arise. That's because each bank offers certain advantages. It is even possible to have advantages by having the current account together with the savings account. In terms of yield, there is not much difference.

Mainly, because the savings income depends only on the Selic rate. In addition, any bank has a guarantee for your money. That is, even if something happens to the bank, at least R$250k is guaranteed.

Incidentally, some people end up preferring to open a savings account in more traditional banks. Like Banco do Brasil and Caixa Econômica Federal. Since these are banks directly linked to the government. Therefore, we have gathered the savings account information at these banks here.

Banco do Brasil offers a savings account with the same rate as all others. If you are an account holder, you automatically have access to a savings account. Thus, this account can be operated using the same card as the current account. In addition, the personal savings tax is zero and has a very low investment risk. By the way, investments in the Banco do Brasil savings account can be from R$0.01.

Like the other option, Caixa Econômica Federal also yields according to the Selic rate. Caixa offers Easy Savings, with some additional advantages for customers. In this sense, in Caixa's savings, the maximum movement per month is R$3,000 and restricted from 06:00 to 24:00. In addition, you can change your Easy Savings to Common Savings at any time. Just go to any Caixa or Lotérica agency.

Basically, the savings income only happens when the money has a birthday. That is, the interest only earns when it completes 30 days saved in the account. In addition, most savings accounts offer a debit card for your transactions. At Banco do Brasil and Caixa, for example, it is still possible to make transfers through the application.

In that sense, for those who are insecure about investing, you can rest assured. Savings are ensured by the Credit Guarantee Fund, the FGC. That way, if the bank fails, anyone who has deposited money can get up to R$250 thousand back.

First, we need to establish that savings is a fixed income modality. That way, yield rates don't change. In the case of savings, it is established by law and yields 70% of the Selic rate. However, the Selic rate is one that can vary. 

Therefore, investing in savings is for people who want to keep their money somewhere safe. And still have some kind of income. If your focus is on more aggressive investments, it is better to bet on other options.

In addition to the Selic Rate, the yield is calculated along with the Referential Rate. However, the rate is zero. Furthermore, no matter how much the Selic Rate varies, the yield on the savings account does not exceed 6%. 

Therefore, it is for this reason that many banks announce that the account yields more than the Selic rate. That is, it yields more than savings. By the way, this is an alternative for those who want an investment that yields more than savings. Because it remains a safe and fixed income investment.

Finally, many people invest in savings in Brazil. However, this type of investment has the worst return on the market. Mainly because it doesn't exceed 6%, even if the Selic Rate goes up. That way, if you have a big financial goal with the investment, savings may not be the best option. Thinking about it, let's show you some more investment options. They also offer security and can also give you more profitability. Check it out:

First, we have the CDB, or Bank Deposit Certificate. They work like a loan made by the financial institution with its client. This loan has interest, just like any other. In this way, it is this interest that represents the remuneration for customers. Unlike savings, the CDB yields daily.

Both the CDB and the CDI are a very safe form of investment. As well as savings, they also have the Guarantee Fund, the FGC. In addition, in some banks it is possible to obtain a yield of 100% CDI, the Interfinancial Deposit Certificate.

Second, LCI and LCA work the same as CBD. That is, they are also loans. However, here the loans are related to Real Estate Investments (LCI) or to Agribusiness (LCA). Thus, it is common for banks that offer this modality to have projects in these areas.

Just as savings are free from Income Tax for individuals. In the case of LCI and LCA this rule also applies. So now you know how this most popular type of investment in Brazil works best. In addition, you also understand how to open your savings account.

If you want to understand even more about this account, check out our recommended article below. In it we tell you how much R$ 50 thousand in savings. Read it now!