Complete Guide to Tesouro Direto Investment in Brazil
Learn how to invest in Brazilian government bonds with just R$ 30. Compare yields, understand risks, and use our calculator to plan your investments.
Tesouro Direto represents one of the safest and most accessible ways to invest in Brazil. With an initial investment of just R$ 30, you can purchase government bonds directly from the federal government and achieve returns superior to traditional savings accounts.
The platform allows you to diversify your portfolio among different types of bonds, each suitable for specific objectives. Whether for emergency reserves, retirement, or medium-term goals, Tesouro offers options for all investor profiles.
What is Tesouro Direto
Tesouro Direto is a program created in 2002 that allows individuals to buy federal government bonds online. More than 20 million Brazilians have already used the platform to invest.
It works like a loan you make to the Brazilian government. In return, you receive interest for the agreed period. The funds raised finance public projects in areas such as healthcare, education, and infrastructure.
Advantages of government bonds
The main advantages include:
- Daily liquidity: you can redeem at any time
- Low minimum value: starting from R$ 30 to begin
- Variety of terms: from 1 year to more than 30 years
- No IOF: after 30 days of investment
- Complete transparency: clear profitability and rules
Investment security
Tesouro Direto offers virtually zero risk. The bonds are guaranteed by the National Treasury, considered the safest asset in the country.
Even in crisis scenarios, the government has mechanisms to honor its commitments. The probability of default is less than 0.01% according to international risk agencies.
For investments up to R$ 1 million, there is also coverage from the Credit Guarantee Fund (FGC) in some modalities.
Types of available bonds
Tesouro offers three main categories of bonds, each with specific characteristics of profitability and term.
Tesouro Selic
Tesouro Selic tracks the basic interest rate of the economy. It’s ideal for emergency reserves due to its liquidity and low volatility.
Main characteristics:
- Profitability: 100% of the Selic rate
- Maturity: Always nearby (2026-2029)
- Volatility: Practically zero
- Ideal for: Emergency reserves and short-term investments
Example: With Selic at 11.25% per year, an investment of R$ 10,000 will yield approximately R$ 1,125 in 12 months (before taxes).
Tesouro IPCA+
Tesouro IPCA+ protects your purchasing power against inflation. It offers real profitability through a fixed rate added to IPCA variation.
Available modalities:
- IPCA+ 2029: Current rate around IPCA + 5.50%
- IPCA+ 2035: Rate close to IPCA + 5.80%
- IPCA+ 2045: Rate around IPCA + 6.00%
- IPCA+ 2055: Highest rate, close to IPCA + 6.10%
Example: IPCA+ offering 6% + inflation. If inflation is 4% per year, your total profitability will be 10% per year.
Tesouro Prefixado
Tesouro Prefixado offers interest rates defined at the time of purchase. You know exactly how much you’ll receive if you hold until maturity.
Current options:
- Prefixado 2027: Rate close to 10.50% per year
- Prefixado 2031: Rate around 11.00% per year
- Prefixado 2035: Rate close to 11.20% per year
The profitability is fixed, but the price fluctuates daily according to market expectations.
How to simulate investments
Use the Tesouro Direto simulator to compare different scenarios and choose the most suitable bond for your objectives.
Factors affecting profitability
Various elements influence the final return:
- Administration fee: Varies from 0% to 0.5% per year depending on the brokerage
- Income Tax: Regressive table from 22.5% to 15%
- IOF: Only applies in the first 30 days
- Investment term: Impacts final taxation
Investment scenarios
Compare three typical profiles using our calculator:
| Profile | Monthly Amount | Suggested Bond | Term | Objective |
|---|---|---|---|---|
| Conservative | R$ 300 | Tesouro Selic | 2 years | Emergency reserve |
| Moderate | R$ 500 | IPCA+ 2035 | 10 years | Retirement |
| Aggressive | R$ 800 | Prefixado 2031 | 6 years | Home ownership |
Comparison with other investments
Savings vs Tesouro
Savings accounts yield 0.5% per month + TR when Selic is above 8.5%. With current Selic, this represents about 6.17% per year.
Tesouro Selic offers 100% of Selic (currently 11.25%), resulting in 82% superior profitability even after taxes.
Comparison R$ 10,000 in 1 year:
- Savings: R$ 617 return
- Tesouro Selic: R$ 900 net (after income tax)
CDB vs Tesouro
CDBs from large banks offer between 90% to 110% of CDI. Smaller banks reach 120% of CDI, but with credit risk.
Tesouro Selic guarantees 100% of Selic with zero risk. For amounts above R$ 250,000, Tesouro becomes more advantageous due to the absence of guarantee limits.
Taxation and costs
Income Tax
Taxation follows a regressive table:
| Period | Rate |
|---|---|
| Up to 180 days | 22.5% |
| 181 to 360 days | 20.0% |
| 361 to 720 days | 17.5% |
| Above 720 days | 15.0% |
Operating costs
- B3 fee: 0.20% per year on invested amount
- Brokerage fee: 0% to 0.5% per year
- IOF: Regressive from 96% to 0% in the first 30 days
How to start investing
Step by step
- Open an account with an authorized brokerage firm
- Transfer funds via TED or PIX
- Access the Tesouro Direto website or brokerage app
- Choose the bond suitable for your objective
- Define the amount to invest (minimum R$ 30)
- Confirm the operation
Important tips
- Compare fees between different brokerages
- Diversify among bond types
- Reinvest semi-annual interest when possible
- Hold until maturity to guarantee profitability
- Use our calculator before investing
Use the Tesouro Direto investment simulator to calculate expected profitability and compare different scenarios according to your financial objectives.
Frequently Asked Questions
What’s the minimum amount to invest in Tesouro Direto?
The minimum investment is R$ 30 or 1% of the bond value, whichever is greater. For example, if a bond costs R$ 2,500, you need at least R$ 30 to buy a fraction.
Can I withdraw my money at any time?
Yes, Tesouro Direto offers daily liquidity. You can sell your bonds Monday through Friday. The money becomes available the next business day after the sale.
Which bond is best for emergency reserves?
Tesouro Selic is ideal for emergency reserves. It has low volatility, daily liquidity, and profitability superior to savings accounts, without risk of loss upon redemption.
How does taxation work in Tesouro Direto?
Income Tax follows a regressive table: it starts at 22.5% and reduces to 15% after 2 years. It only applies to returns, not to the invested amount.
Is it possible to lose money in Tesouro Direto?
There’s no default risk, but prefixed and IPCA+ bonds may fluctuate in price before maturity. If held until the final term, they guarantee the contracted profitability.
What’s the difference between Tesouro Direto and CDB?
Tesouro is issued by the federal government (zero risk), while CDB is issued by banks (credit risk). Tesouro offers more transparency and variety of terms.
Do I need to declare Tesouro Direto on my Income Tax return?
Yes, all Tesouro Direto investments must be declared annually, regardless of amount. Taxable returns are automatically reported to the Federal Revenue Service.