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Tesouro Reserva, launched this Monday (5/11) by the National Treasury, was designed to serve as an emergency reserve. The application yields 100% of the Selic rate, accepts deposits starting from R$ 1, and allows immediate redemption. For now, the product is only available on the Banco do Brasil app.
The federal government launched this Monday (May 11) a new public bond aimed at those who want to build an emergency reserve without giving up liquidity. Tesouro Reserva enters the market as a direct alternative to savings accounts and more conservative Bank Deposit Certificates (CDBs), with profitability equivalent to 100% of the Selic rate, currently considered the basic interest rate reference for the economy.
The National Treasury’s bet is to facilitate the entry of small investors into the fixed income market. The minimum application is just R$ 1, redemption is immediate, and deposits can be made via Pix at almost all times of the week. For now, the product is restricted to the Banco do Brasil app, with no forecast of when other financial institutions will start offering it.
What is Tesouro Reserva and how does it differ
Tesouro Reserva is a public bond issued by the National Treasury, under the same umbrella as Tesouro Direto. The difference lies in its purpose: it was specifically designed to function as an emergency reserve, without the complexity that often frightens those new to investing.
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Profitability is equivalent to 100% of the Selic rate, which is the basic interest rate reference for the Brazilian economy. This means that the yield follows what the market considers the safe floor for fixed-income applications.
The product positions itself as a direct competitor to savings accounts, which have lower yields, and daily liquidity CDBs offered by banks. The difference is that the investor lends directly to the government, without the intermediation of a private institution.
Application from R$ 1 and immediate redemption
The most striking point about the new bond is the entry barrier. It is possible to start investing in Tesouro Reserva from just one real, a symbolic value that opens the product to the public who has never invested in fixed income.
Liquidity is also an important differential. Investors can redeem the invested amount whenever they want, without needing to wait for grace periods or maturity dates.
The operation takes place via Pix, which provides agility in both application and withdrawal. Deposits can be made at almost all times of the week, with the exception of the interval between 0h and 1h AM, when the system is offline for maintenance.
Why Tesouro Reserva was conceived as an emergency reserve
An emergency reserve is a basic concept of personal financial planning. It is an amount saved in a safe and liquid application, ready to be used for unforeseen events such as unemployment, health problems, or unexpected expenses.
Until now, most Brazilians kept this money in savings accounts, even with profitability considered low by the market. Tesouro Reserva arrives to offer an alternative with a higher return, without losing the convenience of immediate withdrawal.
The government also sees a financial education movement behind the launch. By reducing the complexity of accessing public bonds, the expectation is that more people will migrate from savings accounts to applications with better returns.
How to invest and where to find the product
For now, access to Tesouro Reserva is limited to a single channel. Investment can only be made through the Banco do Brasil app, and there is no official forecast of when other financial institutions will start offering the product.
The choice of Banco do Brasil as the initial entry point is linked to the partnership between the public bank and the National Treasury for the structuring of the new bond. Other brokers and banks may be included in the future, according to information released by the government.
To invest, the user needs to have an account at Banco do Brasil, access the app, and choose the product in the investment section. The deposit is made via Pix, and the balance appears almost instantly in the investment account.
What fees and taxes apply to the investment
Even though it’s simple, Tesouro Reserva is not completely exempt from costs. Three fees may apply to the investment, and it’s important to know them before investing.
The first is the custody fee, 0.20% per year, but it is only charged on amounts exceeding R$ 10,000. For small investors who keep amounts below this ceiling, the custody fee does not apply.
The second fee is the Tax on Financial Operations (IOF). This is only charged when the redemption is made less than 30 days after the investment, with a progressive rate according to the holding period.
Finally, there is Income Tax on the yield, according to the progressive table applied to other Tesouro Direto bonds. The longer the investment period, the lower the rate charged on the gain.
How Tesouro Reserva compares to savings accounts and CDBs
Savings accounts currently yield, as a rule, 70% of the Selic rate plus the Referential Rate when basic interest rates are above 8.5% per year. Tesouro Reserva, on the other hand, pays 100% of the Selic rate in full, which tends to result in a higher net gain for the investor, even after taxes.
Regarding daily liquidity CDBs, the comparison is more variable. Digital banks usually offer CDBs with profitability between 100% and 110% of the CDI, an index close to the Selic rate, but with differences between institutions and protected by the Credit Guarantee Fund (FGC) up to R$ 250,000.
Tesouro Reserva, in turn, is guaranteed by the federal government, considered the safest issuer in the national market. The choice between one and the other depends on the investor’s profile, the tax structure, and the relationship they already have with each financial institution.
The launch of Tesouro Reserva comes at a time when many Brazilians are looking for more profitable alternatives for money sitting in current accounts or savings. With a very low minimum investment and Pix redemption, the product reduces barriers that historically kept small investors away from public fixed income.
And you, what do you think about this novelty? Do you intend to open an account at Banco do Brasil just to invest in Tesouro Reserva? Do you believe the product has the potential to replace savings accounts in Brazil? Leave your comment, share your financial strategy, and tag someone who needs to know about this option.
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