Nubank Income vs Savings: Compare and Discover the Benefits of Roxinho!

Nubank, popularly known as “the roxinho”, has been gaining ground in the Brazilian financial market. Characterized by its digital account free from abusive fees and by offering innovative services, it has provoked a series of questions among consumers, mainly with regard to whether its accounts’ income is actually higher than that of savings.

Nubank x Savings: An income analysis

Nubank’s main differentiator is that it promises to yield more than savings. Based on the fact that savings would have a return of 70% of the Selic rate or 0.5% per month (equivalent to the Reference Rate), Nubank’s digital account promises 100% of the CDI, an index that closely follows the Selic rate.

To give you an idea, the Selic rate is currently 2% per year, which means that savings yield only 1.4% per year. The Nubank account, following the CDI that follows the Selic rate, currently yields 2.25% per year.

Exemplifying the income from both accounts

If we take into account a value of R$1,000 invested over a period of one year, the income on the Nubank account would be R$22.50, compared to R$14 on savings, showing an advantage in relation to the income from savings.

Looking at the long term

The scenario becomes even more favorable for the Nubank account when we analyze a longer period, such as two years, for example. In this scenario, the Nubank account would have a total gross balance of R$1,158.85. Savings would have a gross and net balance of R$1,111.55.

Considerations about Nubank taxation

Finally, it is worth remembering that the income from the Nubank account is subject to Income Tax. However, the rate varies depending on the time the money remains invested, becoming lower as this period increases. In comparison, savings income remains linked to the Selic rate, which is currently 1.4% per year.

Conclusion

Finally, we can conclude that the Nubank account is quite advantageous compared to savings accounts, offering an annual return of 2.25%, a value much higher than that offered by savings accounts. Furthermore, with its modernity, ease and exemption from fees, the Nubank account has established itself as an attractive alternative for Brazilians in the financial market.