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

Why Digital Banks Outperform Savings Accounts?

The investment landscape in 2024 requires a strategic shift. Keeping resources idle in traditional accounts means giving up real gains. Savings, with its modest 7.41% per year plus the Referential Rate, does not come close to the opportunities provided by modern digital banks.

The reason is simple: these banks use the CDI (Interbank Deposit Certificate) as a basis for profitability, a much more dynamic index linked to the Selic rate. While savings offers a fixed yield calculated monthly, digital accounts update their earnings daily. An investment of R$ 1,000 in an account that yields 102% of the CDI accumulates R$ 204.12 in 24 months, compared to R$ 129.29 from savings – a substantial difference.

Understanding the CDI and Its Benefits

The CDI functions as a reference rate for the Brazilian financial market, reflecting the average interest rate among banking institutions in short-term transactions. Unlike savings, which follows a fixed formula of 70% of the Selic plus the Referential Rate, the CDI updates constantly.

When a bank offers “110% of the CDI,” it means they amplify this return, generating even higher yields. This mechanism allows account holders in digital accounts to obtain returns well above those of traditional savings accounts, especially in scenarios of elevated Selic like the current one.

Main Digital Banks That Yield Above Savings

High-Yield Alternatives

Neon emerges as one of the best choices for those seeking to optimize returns. It starts at 100% of the CDI and gradually increases, reaching 113% after two years of retention. The longer the investment period, the lower the discount rate applied, encouraging the maintenance of the balance.

Mercado Pago offers flexibility: any balance yields at least 100% of the CDI. Meli+ subscribers who keep R$ 1,000 or more monthly increase their yields to 105% of the CDI, combining simplicity with real gains.

99Pay, integrated with the mobility app, provides up to 110% of the CDI for balances up to R$ 5,000, with the added advantage of cashback on rides and recharges. The yield works even on weekends, a relevant differential.

Other Relevant Platforms

PicPay offers an account with a yield of 102% of the CDI and a “Piggy Banks” tool to organize savings by category. The app presents clear simulations of profitability.

Nubank, a leader in user base, invests deposits in Federal Public Securities with yields on business days after the 31st day. Although it offers 100% of the CDI, its daily update structure sets it apart from conventional savings.

PagBank (PagSeguro) offers a Rendeira Account with 100% of the CDI automatically for balances maintained for 30 days.

Itaú iti provides 100% of the CDI from the first business day via the “My Goals” feature, allowing segmentation of financial objectives.

Banco PAN offers flexibility with a minimum of R$ 30: 10% of the CDI in the first 30 days and 100% afterward, allowing yields without a maximum balance limit.

Practical Comparison: Which One to Choose?

The best bank to grow your money depends on your investor profile. For those seeking maximum long-term profitability, Neon stands out with its 113% of the CDI. For those prioritizing additional features, 99Pay and PicPay offer organization tools and cashback. Investors already using Mercado Livre find an integrated advantage in Mercado Pago.

The average difference between these accounts ranges around 10% to 113% of the CDI, representing significant gains compared to the traditional 7.41%. In terms of liquidity and simplicity, all these digital banks significantly surpass conventional accounts.

Conclusion: The Future of Personal Investments

In 2024, choosing where to invest your savings is no longer just about convenience but about financial optimization. Digital banks offering returns linked to the CDI have reshaped the landscape, making savings accounts practically obsolete for conscious savers.

The best bank to grow your money varies according to specific needs, but all the ones presented exponentially outperform traditional profitability. With daily yield updates, intuitive interfaces, and additional benefits, these platforms are becoming essential options to maximize returns in an environment of high interest rates. The decision should consider not only CDI percentages but also the functionalities offered and ease of use that align with your profile.