How Does Tesouro Direto Work and Why Is It Safe?

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Investing in Tesouro Direto is one of the safest and most accessible ways for individuals to grow their wealth. As a government-backed investment, it offers security, predictable returns, and accessibility, even for those with little money to invest. If you’re looking for a low-risk option to start your investment journey, this guide will explain how Tesouro Direto works, its benefits, and why it is considered one of the safest investments.

1. What Is Tesouro Direto?

Tesouro Direto is a Brazilian government bond investment program created in 2002. It allows individuals to buy government bonds directly, without needing a financial institution as an intermediary. When you invest in Tesouro Direto, you are essentially lending money to the Brazilian government, which, in return, promises to pay interest over time.

Government bonds are used to fund public projects such as infrastructure, education, and healthcare. In exchange, investors receive a safe and predictable return on their money.

2. How Does Tesouro Direto Work?

Step 1: Opening an Investment Account

To invest in Tesouro Direto, you need to:

  1. Open an account with a brokerage firm (corretora) authorized by the Brazilian Securities Commission (CVM).
  2. Link your brokerage account to the Tesouro Direto platform.
  3. Transfer money from your bank to the brokerage firm to start investing.

Step 2: Choosing the Right Treasury Bonds

There are different types of government bonds available in Tesouro Direto, and each serves a different financial goal:

  1. Tesouro Selic (Floating-Rate Bond)
    1. Follows the Selic interest rate (Brazil’s benchmark rate).
    1. Ideal for emergency funds and short-term investments.
    1. Low volatility, meaning lower risk of financial loss.
  2. Tesouro Prefixado (Fixed-Rate Bond)
    1. Pays a predetermined interest rate until maturity.
    1. Ideal for those who want a guaranteed return.
    1. Best when interest rates are expected to decrease.
  3. Tesouro IPCA+ (Inflation-Linked Bond)
    1. Pays a fixed rate plus the IPCA (inflation index).
    1. Protects purchasing power against inflation.
    1. Best for long-term goals, such as retirement.

Step 3: Buying Treasury Bonds

  • Investors can purchase fractions of bonds, starting from R$30, making it accessible to everyone.
  • Bonds have different maturity dates (e.g., 2026, 2030, 2045), and you can choose based on your investment horizon.
  • Returns can be reinvested automatically, maximizing earnings through compound interest.

Step 4: Holding or Selling Before Maturity

  • You can hold the bond until the maturity date and receive the full interest.
  • You can sell before maturity if needed. However, bond prices fluctuate, meaning you could sell at a profit or loss.

3. Why Is Tesouro Direto Safe?

Many investors consider Tesouro Direto one of the safest investment options. Here’s why:

✅ Government Guarantee: These bonds are backed by the Brazilian federal government, meaning the risk of default is extremely low. Even in an economic crisis, the government prioritizes paying bondholders.

✅ Regulated by the CVM: The Brazilian Securities Commission oversees the Tesouro Direto program, ensuring transparency and security for investors.

✅ Low Volatility (Tesouro Selic): Unlike stocks, some treasury bonds (such as Tesouro Selic) do not fluctuate significantly in value, making them ideal for conservative investors.

✅ Liquidity: You can sell your bonds before maturity through the Tesouro Direto platform, meaning you are not locked in for years if you need your money.

4. How Much Can You Earn with Tesouro Direto?

Your earnings depend on the type of bond you choose and how long you keep your investment. Here’s an example:

  • If you invest R$1,000 in Tesouro Selic, and the Selic rate is 10% per year, you could earn R$100 in interest annually (before taxes and fees).
  • If you invest in Tesouro IPCA+ 2028, which offers 5% + IPCA (inflation), your real return remains positive, even if inflation rises.

5. What Are the Fees and Taxes?

 Fees:

  • Some brokers charge zero administration fees, making Tesouro Direto a low-cost investment.
  • There is a 0.20% annual custody fee charged by B3 (the Brazilian stock exchange).

 Taxes:

  • Income Tax (IR): A progressive tax rate applies, decreasing the longer you hold your investment:
    • 22.5% (up to 180 days)
    • 20% (181 to 360 days)
    • 17.5% (361 to 720 days)
    • 15% (above 720 days)
  • IOF Tax (Financial Operations Tax): Applies only if you sell within the first 30 days.

6. Who Should Invest in Tesouro Direto?

Tesouro Direto is a great option for:

 Beginners looking for a low-risk way to start investing.
 Conservative investors who prefer security over high returns.
 People saving for medium or long-term goals (e.g., buying a house, education, retirement).
 Anyone wanting to protect their money from inflation (Tesouro IPCA+ is ideal).

7. Pros and Cons of Tesouro Direto

✅ Pros:

✔️ Low-risk, government-backed investment.
✔️ Low initial investment (starting at R$30).
✔️ Different bond types for various financial goals.
✔️ Better returns than traditional savings accounts.
✔️ Liquidity—can be sold before maturity if needed.

❌ Cons:

❌ Some bonds fluctuate in price if sold before maturity.
❌ Requires paying income tax on profits.
❌ Limited potential returns compared to stocks or real estate.

Final Thoughts

Tesouro Direto is one of the best investment options for those looking for safety, accessibility, and predictable returns. Whether you are starting with a small amount or planning for long-term financial security, government bonds offer a solid investment strategy.

If you are new to investing, Tesouro Selic is a great starting point due to its stability and liquidity. For those planning for the long term, Tesouro IPCA+ provides protection against inflation.

Start today, invest consistently, and watch your money grow securely over time!

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