4 digital banking options to make your money grow

There are many digital banking options to make your money earn interest. If you have any questions about this topic, you're in the right place.

Did you know that there are digital banking options to make your money earn interest? The best thing is that the returns are higher than those of traditional savings accounts.

Digital banks are simple and practical options to make your money go further.

In recent years, these institutions have become part of the daily lives of Brazilians. Nowadays, it is difficult to find someone who does not have an account with one of these digital banks.

And to help you make your money go further, we’ve prepared a list of the best options. Keep reading to find out more.

What are digital banks?

Digital banks are a type of service that has been gaining more and more space in the Brazilian market.

In practice, having a digital account is not that different from having a physical account. The difference, basically, is that you will carry out all operations through the app.

You will make transfers, pay bills, check your balance or carry out any other financial transaction that can be done at a physical branch or in your traditional bank account app.

Obviously, withdrawals alone cannot be made digitally.

But that's not a problem, as you just need to request your digital bank card and then you can make withdrawals at any ATM 24 hours a day.

What are the best digital banks to make your money earn interest?

Now that you know which are the best digital banks, it's time to learn about the best options on the market. Check them out:

1. Nubank

The Nubank credit card has become very popular in Brazil because, unlike traditional cards, it does not charge an annual fee.

This caught the attention of people who were looking for a credit card without abusive fees.

But at Nubank, you can also have a digital account. In other words, you can use it to carry out various financial transactions in a completely virtual way.

Nubank's digital account yields 100% of the CDI for any amount deposited and has daily liquidity. The company does not charge any maintenance fees.

The amounts deposited in your account are invested in fixed income government securities.

If you open your digital account at Nubank, you will have a credit card to use in your account.

Regarding the withdrawal fee, Nubank charges R$6.50 per transaction.

If you also want to make other types of investments and thus increase your income even further, it is worth knowing about Nu Invest.

Nu Invest is nothing more than Nubank's investment platform! It's a simple way to acquire financial products and increase your wealth.

2. Inter Bank

Banco Inter is one of the banks that offer digital accounts to customers.

In addition to the convenience of solving financial bureaucracy without leaving home, the Inter account offers several advantages, such as a card with no annual fee and access to loans and financing.

One of the main advantages of Banco Inter is that it has the guarantee of FGC – Credit Guarantee Fund.

This means that if you have up to R$250,000 invested in your Inter account, regardless of what happens to the bank, your money will be protected.

Another advantage of this bank is that it has a type of “virtual shopping mall” in its app.

It works like this: you, the customer, when using the tool to search for a store that is a partner of the bank, will make your purchase online.

When you make a purchase, you will receive cashback, that is, a portion of the amount spent during your purchase.

Therefore, if you already use other cashback platforms and you are a fan of this benefit, you have yet another reason to create your account at Banco Inter.

The Banco Inter account also yields 100% of the CDI, but not in the current account. How come?

This is because to obtain the 100% profitability of Banco Inter's CDI, it is necessary to invest in a CDB that this bank has, offering immediate liquidity.

In other words, you can leave your money earning interest in the CDB and whenever you want, just withdraw it.

3. PagBank

PagBank is also one of the digital banking options to make your money earn interest.

It offers an automatic remuneration of 100% of the CDI on the balance of up to R$ 1,000.00.

The problem is that, just like traditional savings accounts, there is an anniversary date for the account. In other words, if you withdraw the amount before then, you will lose the monthly income. And in this case, there is no FGC guarantee.

Another more advantageous option from PagSeguro is CDB (Bank Deposit Certificate), which offers a yield of 200% of the CDI and FGC coverage for amounts up to R$ 250 thousand.

4. Picpay

Picpay offers one of the highest returns on the market: 120% of the CDI.

However, it is important to remember that although you can use Picpay to save and invest your money, it is not exactly a bank, but rather a digital wallet.

And this is one of the reasons why it does not have the FGC guarantee.

However, as with other financial institutions that do not have this protection, Picpay must deposit your money in federal public bonds, which are separate from Picpay's assets.

And fixed income government bonds are considered safe investments.

If you like cashback, there's yet another reason to register with Picpay: when you make purchases through the app, you can get cashback at several partner stores.

Additionally, it is also possible to get discounts when paying bills through the app.

Conclusion

You've just discovered the best digital banking options to make your money grow.

If you are tired of the low return on savings accounts and want to benefit from the convenience of digital banks, it is worth opening an account on one of the platforms mentioned above (or on more than one).