CDB Income in 2026: How to Calculate, Compare and Choose the Best

The CDB (Bank Deposit Certificate) is one of the most popular fixed income investments in Brazil — safe, predictable and accessible to anyone with a bank or brokerage account. But the difference between a good CDB and an average one can mean hundreds or even thousands of reais more in your pocket at the end of the term.

To make the right choice, you need to understand how income is calculated, how Income Tax impacts the final result and how to correctly compare CDBs with other applications. Use our CDB, LCI and LCA Calculator to simulate any scenario.

What is CBD?

CDB (Bank Deposit Certificate) is a fixed income security issued by banks to raise funds from investors. When buying a CDB, you are lending money to the bank, which undertakes to return it with interest at the end of the term. In exchange for the greater risk (the bank may fail, although the FGC protects up to $250,000), the CDB usually offers higher returns than savings.

Types of CBD

How to Calculate the Yield of a CDB

Post-Fixed CBD (Most Common)

For a CDB that yields X% of the CDI:

Gross Income = Main × [(1 + daily_CDI)^business_days − 1] × %CDI

But in practice, we approximate:

Gross Income ≈ Main × CDI_annual × %CDI_contracted × (Calendar Days / 365)

Example: $20,000 in CDB at 110% of the CDI for 12 months, CDI at 13% per year:

Rendimento Bruto = R$ 20.000 × 13% × 110% = R$ 20.000 × 14,3% = R$ 2.860,00
Montante Bruto = R$ 22.860,00

Income Tax in the CDB: Regressive Table

CDB income is taxed by IR at a regressive rate depending on the application period:

How ​​it is calculated: IR is levied on income, not on the total value. If you invested $ 20.000 e resgatou $ 22,860, the IR is calculated on $2,860 (the profit).

Continuing the Example (12 months = 360 days → 20% IR):

IR = R$ 2.860 × 20% = R$ 572,00
Rendimento Líquido = R$ 2.860 − R$ 572 = R$ 2.288,00
Montante Líquido = R$ 22.288,00
Rendimento Líquido (% aa) = R$ 2.288 / R$ 20.000 = 11,44% ao ano

Comparison Table: CDB vs Poupança vs LCI/LCA

Using CDI of 13% per year as a reference:

Conclusion: LCI/LCA exempt from IR with 90% of the CDI surpass a CDB of 100% of the CDI with a rate of 20% (term of up to 360 days). Always compare by net income!

How to Transform % CDI into Equivalent Yield

To compare taxed CDB with exempt LCI/LCA, use:

CDB LCI equivalent = % LCI_CDI / (1 − IR_rate)

Practical examples:

This means that an LCI of 90% of the CDI with a term of 365 days is equivalent to a CDB of 109.1% of the CDI — only in tax matters.

Simulation: $50,000 in 5 Years (60 months)

Assuming constant CDI of 13% per year:

In 5 years, the difference between leaving it in savings and investing in a good-yielding CDB is almost $20,000 — with the same level of protection as the FGC.

How to Choose the Best CBD

1. Always compare by net income, not by % of gross CDI
2. Evaluate liquidity: Do you need the money before the deadline? Choose CDB with daily liquidity (lower rate) or Treasury Selic
3. Distribute between banks to maximize the FGC ($250,000 per CPF per institution)
4. Longer terms = less IR: Above 720 days, the rate drops to 15%
5. Fintechs and digital banks often offer CDBs of 110% to 130% of the CDI with FGC

Common Mistakes When Investing in CDB

1. Redeem before 30 days: Regressive IOF consumes a large part of the income in the first 29 days.

2. Not checking the issuer: CDB from an unsound bank may have credit risk (even with FGC, the complaint process can take months). Prefer banks evaluated by rating agencies.

3. Ignore the pre-fixed CDB when the Selic tends to fall: If the Copom signals a reduction in the Selic, locking in a high pre-fixed rate can be very advantageous.

4. Compare CDB and LCI/LCA without tax adjustment: The most common mistake — always adjust for IR before comparing.

5. Forgetting to reinvest when due: Money sitting in a current account yields nothing. Set up expiration alerts.

Frequently Asked Questions (FAQ)

1. Is CBD safe? What is the risk?
CDB from a solid bank has very low risk. In addition, the FGC (Credit Guarantee Fund) guarantees up to $250,000 per CPF per financial institution (including interest). For amounts above this, distribute between different banks. The main risk is credit (bank failure) and liquidity (not being able to redeem before the deadline).

2. What is the difference between CDB and LCI/LCA?
CDB is issued by banks and taxed by IR (15% to 22.5%). LCI (Real Estate Credit Letter) and LCA (Agribusiness Credit Letter) are also issued by banks, but are exempt from IR for individuals — which makes them very competitive even with lower CDI percentages. The minimum waiting period for LCI/LCA varies from 90 days to 1 year.

3. Can I redeem the CDB before the deadline?
It depends on the type of CBD. CDB with daily liquidity: yes, at any time. Illiquid CDB: there is generally no early redemption; to "exit" sooner, it would be necessary to sell on the secondary market (available at some brokers, with a possible discount). Always check liquidity conditions before investing.

4. Is CDB IPCA+ worth it?
Yes, especially over long terms (3 to 5 years+) when you want to guarantee a real gain above inflation. In a CDB IPCA + 6% pa with an IPCA of 5%, the nominal yield would be 11% pa — ensuring that your purchasing power will be maintained. It is ideal for long-term goals such as retirement or purchasing property.

5. How does the IOF work in the CDB?
The IOF (Financial Operations Tax) is levied on CDB income redeemed before 30 days. The rate starts at 96% on the first day and progressively drops to 0% from the 30th day onwards. After 30 days, the IOF is zero — only regressive IR applies.

6. What is the minimum CDB to invest?
Varies by bank and product. CDBs from large banks (Itaú, Bradesco, BB) often have a minimum investment of $ 1.000 a $ 5,000. Fintechs and digital banks (Nubank, Picpay, Inter) offer CDBs with a minimum investment of $ 1,00 a $ 100.00 and usually offer more competitive rates (100% to 130% of the CDI).

Simulate the Yield of Your CDB

Use our CDB, LCI and LCA Calculator to:

• Calculate gross and net income
• Compare CDB, LCI and LCA in the same scenario
• Simulate different deadlines and percentages of the CDI

Related calculators:

• Savings Calculator vs CDI — compare with savings
• Treasury Direct Simulator — compare with public bonds
• Fixed Income Calculator — general fixed income simulator
• Compound Interest Calculator — understand exponential growth