Tesouro Direto: what it is and how to invest safely

Direct Treasury is one of the most accessible and safe ways to start investing in Brazil.

A public, accessible investment backed by the real economy

Tesouro Direto is a platform created in 2002 by the National Treasury in partnership with B3 (the Brazilian stock exchange) to allow anyone to purchase federal public debt securities.

In practice, when investing in this product, you lend money to the government in exchange for a return that is agreed upon at the time of purchase.

One of the great advantages of Tesouro Direto is its accessibility. For just over R$1,400, you can start your portfolio without the need for expensive intermediaries or advanced financial knowledge.

For those looking for a reliable gateway into the world of investing, it's a natural choice.

Why is Tesouro Direto considered safe?

When it comes to security, Tesouro Direto stands out for being tied to the government's own ability to honor its commitments.

Even though Brazil is experiencing economic instability, the risk of default is considered extremely low.

It's no surprise that analysts often recommend Treasury bonds as the first option for beginning investors.

Unlike savings accounts, which have limited returns, Treasury bonds have predictable returns and are traded directly through your CPF (Individual Taxpayer Registry).

Everything is registered with B3, which guarantees security, traceability and legal protection.

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Types of bonds: a choice for every purpose

Tesouro Direto offers three main types of bonds: Tesouro Selic, Tesouro Prefixado, and Tesouro IPCA+. Each has characteristics that align with different profiles and objectives.

Selic Treasury: Its profitability is tied to the economy's base interest rate. Ideal for those seeking liquidity and an emergency fund with a higher return than savings.
Prefixed Treasury: Offers an interest rate set at the time of application. It's recommended for those who believe interest rates will fall and want to secure a high rate.
IPCA+ Treasury: Combines a fixed rate with inflation fluctuations, protecting purchasing power over time. Excellent for long-term goals, such as retirement or children's education.

See the table below for a simplified comparison between the types of title:

Title Type	Profitability	Suitable for	Liquidity
Selic Treasury	Selic + % fixed	Short term, emergencies	High
Prefixed Treasury	Fixed rate defined	Medium term, predictability	Average
IPCA+ Treasury	Inflation + fixed %	Long term, retirement	Low

How to invest with strategy and simplicity

Starting to invest in Tesouro Direto is simpler than it seems. First, you need to have an account with a brokerage firm authorized by the program.

Many of them do not charge a brokerage fee for this type of transaction.

Then, simply register and transfer the funds via Pix or TED, access the Treasury or brokerage platform and choose the desired title.

The recommendation is to align your bond choice with your goals. If you plan to use the money within two years, choose the Tesouro Selic.

If you are planning to retire in 2040, the IPCA+ Treasury bond maturing in that year may be more suitable.

Take your time. Read, compare, and run simulations using the calculator. National Treasury to project your actual earnings.

Beware of disguised risks

Despite its security, Tesouro Direto has some caveats. The most common is the so-called mark-to-market.

When you sell a bond before maturity, it may be worth less than the promised value. This doesn't mean a permanent loss, but it does require caution.

Another point is the custody fee charged by B3: currently R$0.21 per year for amounts over R$10,000. This cost is applied to the total amount invested and reduces, albeit slightly, the final return.

Furthermore, it's also important to understand the impact of the macroeconomic scenario. In times of rising interest rates or out-of-control inflation, bond prices may fluctuate.

So, planning and knowledge help to overcome these risks.

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What the numbers say: updated data for 2025

According to the National Treasury Bulletin of June 2025, there are already more than 2.4 million Brazilians with investments in Tesouro Direto.

The total volume invested exceeded R$110 billion, an increase of R$121 billion compared to the same period last year.

Of this total, 51% are invested in the Tesouro Selic, which gained prominence with the interest rate maintained at a high level (currently at 10.25% per year, according to Copom).

The data shows that Brazilians are more aware of the importance of investing safely and predictably.

Benefits that go beyond profitability

Investing in Tesouro Direto isn't just about making a profit. It also represents a step toward financial education, autonomy, and planning.

By choosing this type of investment, the investor moves away from high-risk bets and moves closer to a sustainable journey.

Furthermore, it's a way to contribute to government funding: the money raised is used for healthcare, education, and infrastructure. It's a win-win situation.

The impact of inflation and interest rates on your income

One of the most important points when investing in Tesouro Direto is understanding how inflation and interest rates impact returns.

With the inflation under control (accumulated IPCA of 3.7% in the last 12 months), IPCA+ bonds become extremely advantageous, as they guarantee real gains.

In the case of fixed-rate bonds, the ideal is to buy when interest rates are expected to fall, which increases their market value.

In 2025, with the Selic rate forecast at 9.5% until December (according to the Focus Report), many investors have taken advantage of the moment to secure high rates.

Planning ahead makes all the difference

Imagine that you decide to invest R$ 200 monthly in a Treasury IPCA+ 2045. At the end of 20 years, considering an average inflation of 4.5% and a real interest rate of 5.5%, you would have more than R$ 105 thousand accumulated.

A clear example of how time and consistency are allies of profitability.

This is the difference between saving money and investing intentionally. Simple, automated, goal-based planning can transform your relationship with money.

Who is Tesouro Direto intended for?

There's no one-size-fits-all approach. Young people looking to build a savings account, parents investing for their children, retirees seeking stability… Everyone can benefit from the Treasury's proposal.

According to Anbima, fixed income investors grew 20% in 2024, with emphasis on the age group between 25 and 40 years old.

A sign that the most connected generation is valuing more sustainable investment alternatives.

Conclusion: investing with awareness and vision for the future

Certainly, more than a financial product, the Direct Treasury it is a bridge between the present and the future you want to build.

With quality information, planning, and patience, it is possible to transform small contributions into great achievements.

Before investing, ask yourself: "What dreams could I achieve if my financial life were in order?" The answer could certainly be the beginning of a new phase.

Frequently Asked Questions

1. Is Treasury Direct better than savings?
Yes. It offers greater profitability, predictability, and the ability to choose according to your profile.

2. Can I sell my bonds before maturity?
Yes, but there may be losses if the market value is lower than the contracted value. So, plan ahead.

3. Is there a risk of default?
The risk is very low. The government is considered the safest issuer in the economy.

4. What is mark-to-market?
This is the daily update of the security's price based on market conditions. It can affect your return on advance sales.

5. How do I track my investments?
You can check yields, due dates, and accumulated amounts through the brokerage or B3 website.

Economy

Marcos Alves

July 21, 2025