What is the Best Digital Bank to Save Money and Earn in 2024?

If you are looking for the best digital bank to save money and truly earn returns, the answer depends on your profile and how much you want to maximize your gains. The good news is that in 2024, options have multiplied, and many of them leave traditional savings in the dust.

Why Switch from Savings to a Digital Bank?

Savings yield only 7.41% per year, but that is a thing of the past. Modern digital banks offer accounts that earn linked to the CDI, a much more dynamic index that tracks the Selic rate in real time. While savings are updated once a month, the CDI earns every business day. In practice, an account offering 100% of the CDI generates about 10.40% per year – almost 3% more than savings.

Additionally, opening an account at a digital bank is simple, quick, and hassle-free. You can invest directly through the app, organize your savings into categories, and even earn cashback on purchases. All integrated in one place.

Understanding the CDI and How It Works

The (Interbank Deposit Certificate) (CDI) is basically the interest rate banks charge each other for short-term loans. It serves as a reference to calculate the yield of various financial products: CDBs, LCIs, funds, and digital accounts.

The crucial difference between the CDI and savings is the update frequency. Savings use a fixed formula (70% of the Selic + Referential Rate) and update only monthly, on the deposit anniversary. The CDI, on the other hand, is calculated daily, allowing you to track your earnings in real time. When a product offers more than 100% of the CDI, it means it yields above what you would earn in savings, especially in periods of high Selic like the current one.

The 8 Best Digital Banks That Yield More Than Savings

1. Neon – Up to 113% of the CDI (Highest Return)

If you want to maximize gains, Neon is unbeatable. It starts at 100% of the CDI and every six months the percentage increases, reaching 113% after two years. The longer you leave the money invested, the less the bank deducts from your earnings. It’s the best for those who want to save money long-term and don’t frequently withdraw.

2. 99Pay – Up to 110% of the CDI (For Mobile Users)

The 99 app offers a digital account where balances up to R$ 5,000 earn up to 110% of the CDI daily, including weekends. Above this amount, the yield drops to 80% of the CDI. Bonus: you earn cashback on rides and mobile top-ups paid with the account balance. It’s a great option if you already use the app for commuting.

3. PicPay – Up to 102% of the CDI (For Goal Setting)

Founded in 2012, PicPay allows creating personalized “Piggy Banks” where you set aside money by goal category. Each real earns 102% of the CDI every business day. In app simulations, R$ 1,000 invested for 24 months yields R$ 204.12 versus R$ 129.29 in savings – a 58% higher gain.

4. Mercado Pago – Up to 105% of the CDI (For Frequent Buyers)

In Mercado Pago’s account, any money earns at least 100% of the CDI. If you subscribe to Meli+ (Mercado Livre’s loyalty program) and maintain a minimum balance of R$ 1,000 monthly, it increases to 105% of the CDI. It’s practical if you already frequent the Mercado Livre ecosystem.

5. Nubank – 100% of the CDI (Most Accessible)

One of the largest digital banks in the country, Nubank offers a payment account where the money is automatically invested in Federal Public Securities. It yields 100% of the CDI on all business days after completing 31 days in the balance. Unlike savings, which yields once a month, here you can track daily gains.

6. Iti (Itaú) – 100% of the CDI (For Organizers)

Iti offers the “My Goals” feature where you set aside money for specific objectives. Each goal yields 100% of the CDI from the first business day. It’s similar to Nubank’s “Piggy Banks,” but integrated with Itaú bank. Great for those who want to keep everything organized.

7. PagBank – 100% of the CDI (Simple and Straightforward)

PagBank, the financial services platform of PagSeguro, offers the “Rendeira Account” which automatically yields 100% of the CDI on balances left idle for more than 30 days. No complications, no excessive minimum requirements. Just keep the money there and it works for you.

8. Banco PAN – 100% of the CDI (With a Slower Start)

At PAN, any balance above R$ 30 earns automatically every day. In the first 30 days, it yields 10% of the CDI, then rises to 100% of the CDI. No maximum balance limit. It’s a good option if you have R$ 30 in your account and want to start small.

Which is the Best Digital Bank to Save Money? It Depends on Your Profile

To maximize long-term gains: Neon (113% of the CDI)
For active mobility users: 99Pay (110% of the CDI)
To organize goals and objectives: PicPay (102% of the CDI) or Iti (100% of the CDI)
For pure simplicity: Nubank, PagBank, or Banco PAN (100% of the CDI)
For Mercado Livre buyers: Mercado Pago (up to 105% of the CDI)

The 2024 Scenario: High Interest Rates

In an environment of elevated Selic, like the current one, choosing the right strategy for where to save money becomes even more important. Digital bank accounts that yield linked to the CDI are increasingly attractive because they capture the volatility of interest rates in real time.

The yield variation between 100% and 113% of the CDI may seem small on paper, but in larger amounts and over long periods, this difference translates into hundreds or even thousands of reais extra.

Conclusion: Maximize Your Gains in 2024

Leaving money idle in savings in 2024 is leaving money on the table. Digital banks have offered a concrete and practical alternative: accounts that yield automatically, without hidden fees, with simple interfaces and extra features like cashback and goal organization.

The best digital bank to save money and earn returns depends on your specific goals, but any of the eight options listed here will offer significantly higher returns than traditional savings. The key is to stop procrastinating and put your money to work today.