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The savings account had no real accumulated earnings in the 12 months through September. The nominal return on investment was 2.67% in the period, but if inflation is discounted, the accumulated savings loss of 0.46%, according to a survey by financial information provider Economatica.
The National Broad Consumer Price Index (IPCA), considered the official inflation of the country, accelerated to 0.64% in September, accumulating an increase of 3.14% in 12 months, as announced by the Institute on Friday (9) . Brazilian Geography and Statistics (IBGE).
Return on savings in 12 months – Photo: G1 Economy
In August, savings still registered a real gain of 0.45% in the accumulated in 12 months. The last time that investment had lost due to inflation on this basis of comparison was in January (-0.05%).
According to Economatica, The negative return of 0.46% registered in September is the worst accumulated in 12 months since August 2016, when savings had a return of -0.75%, minus the HICP.
In the first nine months of the year, however, savings accumulated a profitability of 1.76%, which represents a real gain of 0.41%, discounting inflation.
Although savings are no longer offered, savings accrue a smaller loss than other investments. The Ibovespa, for example, recorded a loss of 19.28% in 9 months and 12.43% in 12 months.
The Economatica survey shows that the investments with the highest profitability in 12 months, after discounting inflation, were gold (60.17%), the euro (41.16%) and the dollar (31.33%). CDI – benchmark interest rate on loans between banks – had a real gain of 0.40%
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What explains the loss of profitability?
Despite the acceleration of inflation, the loss of profitability on savings is mainly related to the fall in the basic interest rate (Selic), currently at a historical low of 2% per year. Since then, the savings correction has been 1.4% annually – 70% of the Selic rate, plus the Reference Rate (TR).
In 2019, the savings were not a real gain, accumulating a loss of 0.05% when discounting the IPCA. Before that, the last time this happened was in 2015.
In September, deposits in the savings account exceeded withdrawals by R $ 13,228 billion. This result led the so-called stock, that is, the total balance of savings accounts, to exceed the 1 trillion reais mark for the first time.
Since April, when the government began paying emergency aid to unemployed and informal workers, savings have broken fundraising records. This is because part of these benefits are deposited in savings accounts.
Deposits made up to 2012 yield 6.5% annually
It is worth remembering, however, that the deposits made until April 2012 continue to generate 6.2% per year plus TR. It’s called “old savings.” XP Investimentos report shows that 42.2% of the total savings stock is still linked to this rule and, therefore, with returns above the basic interest rate.
“This good historical profitability justifies that approximately 40% of the entire Brazilian savings stock yields 0.50% per month”, highlights the financial entity.
The report also shows that more than 106 accounts have more than R $ 20 million in deposits, and that just over a third of the total is in investments between R $ 5,000 and R $ 50,000.
For the first time in history, the savings account balance exceeded R $ 1 billion
