Brazil CDI Return Calculator

An investor comparing a CDB at 105% CDI versus an LCI at 90% CDI to determine which offers the better after-tax return for a 12-month horizon.. This application is commonly used by professionals who need precise quantitative analysis to support decision-making, budgeting, and strategic planning in their respective fields

A financial adviser explaining to a client why LCI/LCA should always be considered before CDB when the rates are comparable.. Industry practitioners rely on this calculation to benchmark performance, compare alternatives, and ensure compliance with established standards and regulatory requirements

A retiree calculating the monthly income from R$500,000 invested at 100% CDI after income tax, to plan living expenses.. Academic researchers and students use this computation to validate theoretical models, complete coursework assignments, and develop deeper understanding of the underlying mathematical principles

A university student deciding between a daily liquidity CDB (85% CDI) and a 6-month CDB (105% CDI) for an emergency fund.. Financial analysts and planners incorporate this calculation into their workflow to produce accurate forecasts, evaluate risk scenarios, and present data-driven recommendations to stakeholders

An accountant calculating the IR withholding on a client's annual CDB redemptions for the IRPF declaration.. This application is commonly used by professionals who need precise quantitative analysis to support decision-making, budgeting, and strategic planning in their respective fields

What is the CDI rate and where can I find it?

The CDI is an overnight interbank rate published daily by B3 (formerly CETIP). It closely tracks the SELIC rate set by the Copom (Banco Central's Monetary Policy Committee). The CDI can be found on the B3 website, major investment platforms, or financial news portals. In mid-2024, it was approximately 10.4% annually.

What is the difference between CDB and LCI/LCA?

A CDB (Certificado de Depósito Bancário) is a bank deposit certificate — it is taxable, with IR applied at source based on holding period. LCIs (Letras de Crédito Imobiliário) and LCAs (Letras de Crédito do Agronegócio) are credit instruments backing real estate or agribusiness sectors — they are exempt from IR for individual investors, making them more attractive at equivalent rates.

Is my investment protected if the bank fails?

CDB, LCI, and LCA investments up to R$250,000 per CPF per institution are protected by FGC (Fundo Garantidor de Créditos) — Brazil's deposit insurance equivalent. This covers up to R$1 million per CPF across all FGC-protected institutions within a 4-year period. This protection makes bank fixed income products very safe for amounts within the limit.

What is IOF and how does it work?

IOF (Imposto sobre Operações Financeiras) is a tax on financial transactions including early redemption of fixed income investments within the first 30 days. The IOF rate decreases each day from 96% on day 1 to 0% from day 30 onwards. After 30 days, no IOF applies. IOF applies on the gross gain before income tax.

What is the 'come-cotas' and does it apply to CDI investments?

Come-cotas is a semi-annual tax collection mechanism applied to fixed income funds (FIFs) in May and November, at 15% or 20% on accrued gains. Direct CDB, LCI, and LCA investments are NOT subject to come-cotas — tax is only collected at redemption. Funds investing in these instruments (not the direct products) may be subject to come-cotas.

Are CDB returns declared in the IRPF?

IR on CDB returns is withheld at source by the bank — the investor receives the net amount automatically. The CDB investment and returns must still be declared in the annual IRPF in the 'Rendimentos Sujeitos à Tributação Exclusiva' section. Since IR is already withheld, no additional tax is owed at the annual return.

What happens to CDI investments if the SELIC rate falls?

CDI closely follows SELIC. If the Copom cuts the SELIC rate, CDI falls accordingly, reducing the return on CDI-linked investments from that point forward. Post-fixed CDI investments adjust dynamically — they earn the current CDI rate each day. Pre-fixed CDB investments at a locked rate are not affected by subsequent SELIC changes.

Can foreigners invest in CDI-linked products in Brazil?

Non-resident foreigners can invest in Brazilian fixed income through specific regulated channels (Resolução 4,373 or foreign direct investment accounts). Income remitted abroad is subject to withholding tax. The rules are complex and require a local custodian or bank to facilitate the investment. This is an important consideration when working with brazil cdi return calc calculations in practical applications. The answer depends on the specific input values and the context in which the calculation is being applied.