Savings Accounts in Brazil See R$39.3 Billion in Net Withdrawals in H1 2026

Brazil’s savings accounts registered R$39.3 billion in net withdrawals in the first half of 2026. The figure was released by the Central Bank on July 8. In fact, the data show that withdrawals outpaced deposits across most of the period. High interest rates continue to make other financial investments more attractive than savings accounts. As a result, the country’s most traditional financial product keeps losing ground to higher-yield investments.

Withdrawals From Savings Accounts Outpace Deposits in Nearly Every Month

At the start of the year, January saw the sharpest drain, with net withdrawals of R$23.5 billion. Then, March posted the second-largest negative result, with R$11.1 billion withdrawn more than deposited. May, however, was the only month of the half-year with positive net inflows, of R$2.6 billion. It was a brief pause in the withdrawal streak. In June, though, the balance turned negative again, with net withdrawals of R$237.5 million.

Despite the outflows, the total amount held in savings accounts stayed nearly stable year over year. In June 2026, the total volume reached R$1.020 trillion, compared with R$1.019 trillion in the same month of 2025. The balance also peaked at R$1.028 trillion in May. It then dropped by more than R$8 billion over the following months because of the new withdrawals.

Traditional Account Loses Ground to Other Financial Investments

Overall, the savings account is traditionally the most popular investment among Brazilians for its simplicity, income tax exemption for individuals, and immediate liquidity. Even so, the account’s yield has been losing appeal. Its return is tied to the Reference Rate plus 0.5% per month whenever the benchmark Selic rate is above 8.5% a year. As a result, options such as Treasury Selic bonds and mid-size bank CDs offer returns closer to the current base interest rate.

For this reason, market analysts recommend that investors consider other low-risk alternatives instead of keeping all their funds in a savings account. Readers who follow the topic regularly can find more coverage in OnTheNet’s Finance category.