brazil savings yield rule
Brazilian savings accounts do not have a fixed rate, they have a trigger: Lei 12.703/2012 swaps the entire yield formula the moment annual Selic crosses 8.5%, in either direction.
With Selic well above 8.5%, its exact percentage stops mattering for the calculation: savings lock at 0.5% per month regardless of whether Selic sits at 13.75% or 20%.
At exactly the 8.5% limit, the 70% rule is already in force; annual yield drops from R$ 616.78 to R$ 595.00, a R$ 21.78 loss purely from the formula switch at the trigger.
With Selic at 7%, applying 70% results in an effective monthly rate of about 0.40%, below both the 0.5% ceiling and the yield obtained with Selic exactly at the 8.5% trigger.
Since 2012, savings use two rules: if Selic > 8.5% p.a. → 0.5%/month + TR; if Selic ≤ 8.5% p.a. → 70% of Selic/month + TR.
No. That only holds while annual Selic stays above 8.5%; at 8.5% or below, Lei 12.703/2012 switches to 70% of Selic, which in the 7% annual example results in just over 0.40% per month, well below the 0.5% ceiling.
Not the principal, only the yield for that open period: savings accounts credit interest only on the monthly date matching the original deposit, so withdrawing before that date zeroes the yield accrued since the last credit, even with only a few hours left before the next one.
Historically very little: TR has stayed close to zero since 2013, so under the Selic-above-8.5% regime, yield is dominated by the fixed 0.5% monthly rate, with TR adding little on top of it in recent practice.
⚠️ Simulation uses simplified rules. TR is close to zero in most periods. Actual yield depends on the date your deposits were made.
Lei 8.177/1991 and MP 567/2012 (savings rules). Selic: Banco Central do Brasil.
Balance evolution
Calculated in your browser. No financial data is transmitted.