You may have heard experts say that emergency reserve is the first step for every investor. But do you know which investments are suitable for this purpose? No Chat with Specialist, live program from UOLeconomist César Esperandio makes a complete comparison of the three most used applications for the reserve: Treasury Selic, CDB (Certificado de Depósito Bancário) and interest-bearing account.
Check out which of these investments the economist placed first in the ranking — and he even included a fourth option, sometimes left out by those who invest for this purpose.
Read the economist’s analysis below and watch the full program, which is a question-answer on investments exclusively for subscribers and broadcast fortnightly, on Thursdays, from 3 pm to 4 pm.
Using the money in exceptional situations
The emergency reserve is that money that you leave invested, so you can count on it in some exceptional situation, such as repairing a cell phone, covering expenses in times of unemployment or even being able to afford a last-minute trip. And that without having to get into debt.
Cesar Esperandio, economist
According to Esperandio, who is also from the Econoweek channel, the ideal size of the emergency reserve depends on each person, how comfortable you feel. However, it says that it is recommended to have an amount equivalent to a period of three to 12 months of average monthly expenses.
Reservation must have 3 characteristics
For the economist, the emergency reserve must have three main characteristics:
Daily liquidity: You can withdraw money at any time. When requesting the redemption, the money must be available on the same day or, at the latest, the next day;Safety: invest your money in some investment with high security, as much as possible;Income predictability: have an idea of how much your money will yield, always with increasing profitability
What is the investment recommendation?
The three most recommended investments are:
Selic Treasure: Treasury Direct bond, considered the safest in the country;CDB (Bank Deposit Certificate) with daily liquidity and as long as it earns at least between 102% and 103% of the CDI. CDBs are protected by the FGC (Credit Guarantee Fund).Paid digital accounts: most have FGC protection and adequate profitability (100% of CDI).
“On here [com conta remunerada] you win with practicality. But for those who are more ‘spending’, it can become a trap when spending unnecessarily, it’s so easy to rescue the money”, says Esperandio.
Ranking and profitability
1st place: Selic Treasure
On the Treasury Direct platform, two Selic Treasury bonds are available:
Treasure Selic 2025: Pays Selic + a bonus of 0.11% per year2027 Selic Treasure: Pays Selic + a bonus of 0.20% per year
Today, the Selic rate (basic interest rate) is 11.75% per year. However, says the economist, the rate paid on these investments is the “effective”, which is 0.1 percentage point below the official Selic rate. In other words, the Selic Treasury pays 11.65% per year (Selic) + the combined bonus (which may vary from one day to the next).
The calculation looks like this:
Treasure Selic 2025: 11.76% per year (11.65% effective Selic + 0.11% bonus)2027 Selic Treasure: yields 11.85% per year (11.65% effective Selic + 0.20% bonus)
2nd place: CBD
On the Fixed Income App platform, you will find several CDBs with daily liquidity.
Look for CDBs that yield at least 102% or 103% of the CDI. It is important for you to know that the CDI is equivalent to the effective Selic rate, that is, 11.65% per year. Therefore, the CDB needs to yield at least 102% or 103% of the CDI to exceed the Selic Treasury yield.
3rd place: Paid Digital Accounts
Esperandio states that most interest-bearing accounts earn 100% of the CDI, that is, 11.65% per year.
These accounts end up losing profitability to the Selic Treasury and the CDB. Despite this, the great advantage is having the convenience of withdrawing the money on time.
It is worth mentioning that the investment conditions mentioned here refer to the 20th of April. Fees may vary from day to day.
Fixed income funds are the fourth option
The economist added another option for the emergency reserve: fixed-income funds with daily liquidity — which are D+0 (the money falls on the same day) or D+1 (the money falls the next day) — and without charge of rate. “It is worth checking if there is a fee, because several funds charge an administration fee and a performance fee, and this will erode part of their profitability”, he says.
According to him, these fixed income funds basically invest in Selic Treasury and CDB. “The profitability of these funds is close to the yields of the Selic Treasury, the CDB and interest-bearing accounts. So, if you are going to invest in these fixed income funds, avoid the fees that some may charge”, he says.
Chat with Specialist is fortnightly
The program Chat with Specialist is broadcast on Thursdays, fortnightly, from 3 pm to 4 pm, on the home page of UOL, at UOL Economia and UOL Investimentos, and is exclusive to subscribers. Review past programs here.
You can send questions to Papo by e-mail [email protected] —they can be answered in the program.
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