Investments

Last month, there were more deposits than withdrawals; profitability is more attractive

Savings of Caixa Econômica Federal recorded net funding of R $ 944.1 million in August. This means that there were more deposits than withdrawals in the period. According to the institution, the data confirm the growth trend of savings deposits.

Caixa explained that in addition to profitability, which has become more attractive in recent months, there has been an increase in the number of savings accounts opened over the last 12 months: 7.1 million passbooks were opened in the period.

"Every new open savings is, in fact, a dream entrusted to Caixa, which traditionally has always been recognized by the population as the main depository of savings funds," said Caixa's Retail Products Vice President, Fábio Lenza.

Profitability of savings

The institution also explained that with the reduction of the Selic rate, the profitability of savings became more attractive compared to other investments, such as CDB and funds. By not charging income tax or administration fee, the product has also been most sought after.