What is the best bank to open a savings account?
This popularity is not for nothing. Saving is one of the safest and simplified investments in the country, suitable for those people who are beginning to learn how to save money. That is precisely why all banks offer this option. But what will be the best bank to open a savings account? Mrs. Grundy gives you the tips to choose:
Financially, there is no difference between banks
Those who invest in the savings do not have to pay administrative fees for account maintenance, besides being able to count on considerable income. Also, in any bank, there is a guarantee of return of up to R $ 250 thousand of the amount invested in case of bankruptcy, by a government institution called the Credit Guaranty Fund (FGC). Besides that:
– Zero rate: no maintenance cost
– Equal profitability: see below how it works
But there are other things you can evaluate
a) Quality of service
b) Agencies closest to you
c) Presence in the cities you most frequent
d) Number of complaints
See, for example, the ranking of complaints of each bank, published by the Central Bank. The smaller the better.
Savings: what is it and how does it work?
As mentioned, saving is a very affordable type of investment as it is established by law that the account should not depend on any fee to be opened or maintained. To start a savings, you only need to present the mandatory documentation, which includes CPF, RG and proof of residence. The minimum deposit amount for opening the savings account varies from one institution to another and the money invested can be withdrawn at any time.
With the account open, users can apply miscellaneous amounts, which accumulate into the individual or family financial reserve. Savings, as its name suggests, is ideal for saving extra money and being able to avail of it in emergencies. As there is no fee, use the savings money to make a new purchase, solve an urgent problem or travel is much better than getting a loan.
Savings rules have changed. As of May 2012, the following income calculation became effective: whenever the basic interest rate (Selic) 8.5%, the savings will yield 70% of the Selic + variation of the Referential Rate (TR). The TR is calculated and disclosed every day by the Central Bank.
For the oldest deposits made up to May 03, 2012, or when the Selic is above 8.5%, the yield of 0.5% per month (6.17% per annum) + TR variation prevails. It is worth noting that the income of the savings account is monthly and the update always happens on the opening anniversary.