What is the Best Bank to Earn Money in 2024? Complete Guide to the Best Digital Accounts

Digital banks have revolutionized the way Brazilians manage their savings. Unlike traditional savings accounts, these platforms offer a more agile experience and, most importantly, significantly higher returns. If you’re looking for the best bank to grow your money, know that the answer depends on your investor profile and the amount you plan to keep invested.

Why Abandon Savings in 2024?

Savings accounts remain a safe option, but their yields of only 7.41% per year no longer keep up with inflation and cause your wealth to lose purchasing power. Meanwhile, accounts in digital banks linked to the CDI (Interbank Deposit Certificate) offer returns of 100% to 113% of the CDI, resulting in annual gains close to 10.40%.

The difference is substantial: while savings calculates interest once a month, on the deposit anniversary, digital accounts with current CDI update their earnings every business day. Additionally, the CDI reflects a much more dynamic rate responsive to market fluctuations.

The 8 Best Banks to Invest Your Money

Neon - Up to 113% of CDI

Neon stands out for offering a profit progression program. Starting at 100% of CDI, the percentage increases every semester until reaching 113% after two years of investment. The longer the money remains invested, the smaller the discounts on the yield. For those who can leave their money invested for a longer period, it’s an excellent choice in response to the question: what is the best bank to grow money?

Mercado Pago - Up to 105% of CDI

Integrated into the Mercado Livre ecosystem, Mercado Pago allows any account holder to earn at least 100% of CDI. Customers with a Meli+ subscription and a monthly balance above R$ 1,000 receive an additional 5% boost, totaling 105% of CDI. The ease of integration with online shopping and sales makes this platform attractive for merchants and frequent marketplace users.

99Pay - Up to 110% of CDI

The digital account of the 99 app offers yields of up to 110% of CDI for balances up to R$ 5,000. Above this amount, it combines 80% of CDI with 110% for balances up to R$ 5,000. An important differential is that the profitability operates seven days a week, including weekends and holidays, in addition to offering cashback on rides and mobile top-ups.

Nubank - 100% of CDI with Flexibility

One of Brazil’s largest digital account providers, Nubank offers 100% of CDI yield without the rigidity of traditional savings. The key feature is that the money is automatically invested in Federal Public Securities and will accrue every business day after the 31st day of deposit. Immediate access to the funds without penalties makes this alternative very competitive.

PicPay - 102% of CDI with Goal-Setting Tool

Operating since 2012, PicPay proposes a more playful approach to investments through “Piggy Banks” – customizable categories where you can organize your savings by goal. The yield is 102% of CDI, calculated daily. A simple simulation shows that R$ 1,000 invested for 24 months generates R$ 204.12, versus only R$ 129.29 in savings.

Pagbank - 100% of CDI Automatic

Pagbank, the financial services platform of PagSeguro, offers the Conta Rendeira with 100% of CDI automatically for balances that remain idle for at least 30 days. It’s a straightforward and hassle-free solution, ideal for those seeking simplicity in response to the question: what is the best bank to grow money?

Iti - 100% of CDI From Day One

Iti, the digital arm of Itaú, includes the “My Goals” feature, which works similarly to piggy banks on other platforms. The differential is that the 100% CDI yield starts from the first business day, with no waiting period. Goal organization is intuitive and helps with personal budget control.

Banco PAN - 100% of CDI with Low Entry Threshold

Banco PAN democratizes access to CDI investments by requiring a minimum balance of just R$ 30 to start earning. In the first 30 days, the yield is 10% of CDI, then it increases to 100% in subsequent months. Without a maximum limit, it is accessible to different investor profiles.

Comparative Table: Highlighted Returns

Understanding the CDI: The Foundation of It All

The CDI is a daily calculated reference rate that represents the average interest on short-term loans between banks. Unlike savings, which has a fixed formula of 70% of the Selic rate plus the Referential Rate (currently zero), the CDI updates constantly and reflects the real cost of money in the market.

When an account yields “above 100% of CDI,” it means it offers more than the reference rate, boosting your gains during periods of high Selic. This is the main reason these accounts outperform savings in profitability.

How to Choose the Best Bank to Grow Money?

The answer depends on your goals:

For maximum long-term profitability: Neon offers the best rates, especially if you can leave the money invested for two years or more.

For those valuing extra features: 99Pay offers cashback, while PicPay and Iti have goal-setting tools.

For simplicity and liquidity: Nubank and Pagbank provide 100% CDI without complications.

For beginners with little capital: Banco PAN accepts investments starting at R$ 30.

Conclusion: Maximize Your Returns in 2024

Choosing the best bank to grow money in 2024 should consider not only the interest rate but also your liquidity needs, investment volume, and desired features.

All eight options significantly outperform traditional savings. The difference between 7.41% in savings and the 100-113% of CDI offered by these digital banks represents substantial gains over time.

Regardless of your choice, switching from a traditional checking or savings account to a digital account with automatic CDI yield is an essential step to protect and grow your wealth in a high-interest scenario like the current one.