Which bank offers better returns than a savings account? Find out!

Determining which bank offers better returns than a savings account goes far beyond simply finding an alternative account that yields interest.

This is because this new feature is already available in some financial institutions, making the choice more difficult. 

Therefore, it is necessary to understand how this choice should be made, considering the options available on the market.

With that in mind, in today's article we will present you with some options, as well as help you choose the best alternative.

So, if you want to learn more about this topic and find new ways to make your money go further, keep reading! 

Is saving a good option or not? 

For a long time, savings accounts were considered the best option for those who wanted to save money.

That's because, in this type of account, the bank balance earns interest, and the longer the money stays there, the more it earns.

And this worked for a long time, until more options emerged, and investments became more popular.

From then on, savings accounts ceased to be seen as a good option, due to their very low rate of return.

Currently, the savings account yield rate is 6.17% per year + the reference rate. 

Compared to other low-risk investment options, such as Certificates of Deposit (CDBs), savings accounts yield very little.

Just so you know, a CDB (Certificate of Deposit) yields approximately 13,70% per year, practically double that of a savings account. 

Therefore, it's much more worthwhile to let the money grow through these types of investments.

Thus, the same amount yields much more, in less time and with virtually the same risks.

So, if your debt is such that saving currently pays off, based on the numbers, we can say that there are better alternatives.

The only advantage of saving is the security and the ability to use the money whenever you want.

That's because, when it comes to investments, there's a minimum withdrawal period.

But even in that respect, there's already a product that surpasses savings accounts: interest-bearing accounts.

But what is this? Which bank offers a higher return than a savings account? 

We'll see in the following topics! 

What is an interest-bearing account? Which bank offers higher returns than a savings account? 

In the previous topic we saw the reasons that have made savings accounts an outdated and unattractive alternative.

We also saw that an interest-bearing account presents itself as the ideal alternative to replacing a savings account.

Therefore, all that's left is for us to explain what this type of account is.

An interest-bearing account is a regular checking account, but with the added benefit of earning interest on its balance.

This means that in this type of account, the existing balance earns interest.

This return can be based on the CDI, which yields 1.07% per month, totaling 12.84% per year.

This is approximately double the return on a savings account.

In addition to the CDI, some accounts yield returns through the CDB, an investment option with low risk and daily returns.

The advantage of a CDB (Certificate of Deposit) is that the money can be withdrawn daily. 

The advantages of this type of account are that the balance earns interest daily or monthly, and you have no restrictions on using your money.

This means you can transfer, withdraw, and even make payments with your balance without any problems.

The return is based on the present value in the account, so it can vary.

Therefore, for those looking for a way to make their money grow without having it tied up, this is a great option. 

But it's important to find the best option, and to do that we need to know which bank offers a higher return than a savings account. 

Which bank offers higher returns than a savings account? 

By now you know how the interest-bearing account works, which has certainly piqued your interest.

After all, if there's a possibility of earning interest on the balance, why continue using banks that don't offer it, right?

That's true, but before simply signing up for that type of account, it's important to find the right banks.

Therefore, below we will see a selection of options in order to find out which bank yields more than a savings account.

1. PagBank 

PagBank is one of the pioneers in offering interest-bearing accounts.

The return on the balance is generated through a Certificate of Deposit (CDB), where the client defines the amount to invest.

This investment yields daily returns, and it's possible to withdraw the value every day.

The main advantage of this account is that the balance invested in CDBs is converted into credit.

This way, while the money is being invested, you can use a credit card without any credit check.

2. Nubank 

The Nubank account has become very popular in the market due to its unique features.

Among the distinguishing features, the fact that the account earns interest is what stood out the most.

With Nubank, returns are generated through CDBs (Certificates of Deposit), allowing the customer to decide how much they wish to invest.

The invested balance earns interest daily and can be withdrawn every day.

This way, you have more control over your money, and you can gradually increase your balance.

3. PicPay 

PicPay is an interesting bank for those looking for varied and modern services.

The PicPay account yields 102% of the CDI rate, which represents approximately 30% more than the yield of a savings account.

Unlike the other options presented, with PicPay you don't need to deposit the money.

As soon as the balance is in the account, it starts earning interest daily. 

Tips for choosing which bank offers better returns than a savings account.

Understanding which bank offers better returns than a savings account was the first step in making savings accounts a last resort.

But, as we've seen, the market offers a wide variety of options, making it difficult to decide which account to use.

With that in mind, below we'll look at some tips to help you choose the best bank.

It's worth noting that there's no single right answer, as the definition of the best bank depends on your needs and priorities. 

Choose a fee-free account. 

For an interest-bearing account to generate real returns, it's essential that it be free of fees.

This is because, as we know, bank fees are not low, which would end up consuming almost all of the income.

The good news is that there are many digital banks with no fees that offer interest on your account.

So, it won't be too difficult for you to find! 

Choose a comprehensive and reliable bank. 

An interest-bearing account may seem very attractive, but we must remember that an account is only worthwhile if it is offered by a trustworthy bank.

Especially when dealing with interest-bearing accounts, an unreliable bank can cause you losses.

Therefore, prioritize banks that are relevant in the market, and you'll certainly have a good experience! 

Keep an eye on the type of income. 

Throughout the options presented, we could see that each account yields returns in a different way.

Some depend on investing in a Certificate of Deposit (CDB), while others earn interest directly on the account balance through the Interbank Deposit Certificate (CDI).

Each of the options has its strengths and weaknesses.

Therefore, it's important that you evaluate the type of income in order to find the one that best suits your needs.

This way, you can ensure you've found a bank that offers a higher return than a savings account.

So now that you know how to search, be sure to do your research to find the best option for you!