The Central Bank (BC) announced yesterday that, in April, savings withdrawals exceeded investments by R$1.142 billion. According to the BC’s savings report, Brazilians invested R$353.973 billion in savings and withdrew R$355.115 billion in the last month.
In the Brazilian Savings and Loan System (SBPE), withdrawals totaled R$3.029 billion in April, with R$303.92 billion in deposits and R$306.95 billion in withdrawals, resulting in a yield of R$3.08 billion and a total balance of R$740.29 billion. Meanwhile, rural savings registered deposits of R$50.04 billion and withdrawals of R$48.15 billion, generating a net inflow of R$1.88 billion, with income of R$1.3 billion and a balance of R$239.53 billion.
Consequently, the total savings income in April was R$5.199 billion, bringing the total savings account balance to R$979.82 billion, as indicated in the report.
In contrast, in the previous month, in March, savings registered more deposits than withdrawals. Brazilians deposited R$324.7 billion and withdrew R$323.38 billion, resulting in a positive balance of R$1.339 billion.
Savings
Brazilian savings refers to a specific type of investment offered by the country’s banks, known as Savings Account. Savings is a popular form of investment and widely used by Brazilians due to its simplicity, security and liquidity.
In savings, investors deposit their money in specific accounts called savings accounts, maintained at authorized financial institutions, such as commercial banks, investment banks and credit unions. These deposits are remunerated by a predetermined interest rate, generally calculated based on a fixed rate plus the variation in the Reference Rate (TR) or based on a pre-fixed rate defined by the government.
The resources deposited in savings are mainly intended for financing real estate credit activities in the Housing Financial System (SFH) and in the Real Estate Financial System (SFI). This means that part of the money deposited in savings is directed to the real estate sector, contributing to the financing of houses and apartments.
One of the main characteristics of Brazilian savings is its liquidity, which means that investors can redeem their funds at any time without facing significant penalties or restrictions. Furthermore, savings are considered a safe investment, since deposits are guaranteed by the Credit Guarantee Fund (FGC) for up to R$250,000 per CPF and financial institution.
(With Agência Brasil).
