8 Digital Banks That Make You Earn More Than Savings in 2024

I'm tired of seeing people letting money die in savings accounts! It's time to open your eyes and see where you can really make your money grow in 2024.

It's been a while since digital banks invaded the Brazilian market, and it wasn't for nothing. In addition to eliminating those endless lines and absurd fees of traditional banks, they offer something that particularly excites me: returns well above the old and outdated savings account!

Why invest in digital banks?

Leaving money idle in the account? No way! And even worse is thinking that savings accounts solve the problem. My friends, the revolution of digital banks has come to show that it's possible to have decent returns without complications.

Most of these accounts offer profitability linked to the CDI, which follows the Selic rate. In practice, while the miserably low savings account yields only 7.41% per year, a digital account with 100% of the CDI already gives you 10.40% per year. That's a big difference!

And the best part? This yield is calculated daily, not monthly like in a savings account. This means your money works every business day, not just on the "anniversary" of the deposit. Anyone still using savings in 2024 is throwing money away!

Best digital banks to invest in 2024

I'm going to show you the 8 digital banks that really make your money grow. And look, I'm not getting anything for talking about them - it's pure frustration to see people losing money on bad options!

1. Nubank

• Yield: 100% of the CDI

The little purple one is not the one that offers the highest return, but it makes up for it with simplicity. Your money is invested in Federal Public Bonds and starts to yield after 31 days. It’s not a miracle, but it already leaves savings in the dust.

2. Neon

• Yield: up to 113% of the CDI

This one is a good deal! It starts at 100% of the CDI and increases every semester until it reaches 113% after two years. The longer you leave it there, the less tax you pay. Among digital banks, it is one of the ones that values loyalty the most.

3. PicPay

• Yield: up to 102% of the CDI

He created the famous "Cofrinhos" where you organize your savings by category and everything yields 102% of the CDI. In their simulation, R$1,000 in two years yields R$204.12 versus a measly R$129.29 in savings. The difference is staggering!

4. PagBank

• Yield: 100% of the CDI

Their Rendeira Account is basic - 100% of the CDI for money that stays idle for 30 days. Nothing extraordinary, but it's still much better than leaving it in a savings account.

5. Mercado Pago

• Yield: up to 105% of the CDI

All money earns at least 100% of the CDI, but if you subscribe to Meli+ and transfer R$1,000 every month, it goes up to 105%. A good option especially if you already use Mercado Livre a lot.

6. 99Pay

• Yield: up to 110% of the CDI

This account is surprising! Balances up to R$5,000 yield 110% of the CDI and, according to them, the yield is even on weekends, not just during business hours like many others. In addition, there is cashback on rides and recharges.

7. Iti

• Yield: up to 100% of the CDI

Itaú's digital pup has that "My Goals" feature that earns 100% of the CDI from the first business day. It works like Nubank's little boxes, allowing you to organize money by goals.

8. Banco PAN

• Yield: up to 100% of the CDI

In the PAN, balances starting from R$30 earn automatically, but be careful: in the first 30 days it is only 10% of the CDI, rising to 100% after that. There is no maximum limit, which is good.

What is this CDI thing?

The CDI is the average rate of loans that banks make to each other. You don't need to understand all the complexity, just know that today it follows very closely the Selic rate.

The big difference compared to savings? The CDI yield is calculated every day, while savings is only calculated once a month. And when a bank offers more than 100% of the CDI ( like Neon with 113% ), you earn even more.

My honest opinion

Look, I'm tired of seeing people complaining that they can't make money grow, but they insist on leaving everything in savings or, worse yet, in a checking account! This is like giving money away for free to traditional banks.

Any of these digital banks I mentioned will give you a better return. I personally prefer Neon for reaching 113% of the CDI and 99Pay for 110% of the CDI even on weekends. But even the most basic of them will give you a better result than a savings account.

Don't be another Brazilian losing money with these outdated options. The financial system is changing, and those who don't adapt will be left behind. And the best part: all of this with no maintenance fee and an app in the palm of your hand!

Here's a tip: if your money is still in the savings account, you're throwing money away. Change it today!