Investing in Treasury Bonds (Tesouro Direto) is one of the safest and most accessible ways to grow your money in Brazil. These bonds are issued by the Brazilian government, making them low-risk investments with guaranteed returns. Whether you’re looking for a stable investment, passive income, or a way to beat inflation, Tesouro Direto can be a great option. In this guide, we’ll explain what Treasury Bonds are, how they work, and how you can start investing as a beginner.
1. What Is Tesouro Direto?
Tesouro Direto is a program created by the Brazilian National Treasury that allows individuals to invest in government bonds online and with small amounts. When you buy a Treasury Bond, you are lending money to the government, and in return, you receive interest payments or a lump sum at maturity.
Tesouro Direto is considered a low-risk investment because it is backed by the government, making it safer than stocks or corporate bonds.
2. Why Invest in Treasury Bonds?
✅ Low Risk – Since they are issued by the government, they are considered one of the safest investments.
✅ Accessible – You can start investing with as little as R$30.
✅ Beats Inflation – Some Treasury Bonds are indexed to inflation, helping you maintain purchasing power.
✅ Different Options for Different Goals – There are bonds for short, medium, and long-term investors.
✅ Higher Returns Than Savings Accounts – Most Tesouro Direto bonds offer better returns than poupança (savings accounts).
3. Types of Treasury Bonds in Brazil
Tesouro Direto offers different types of bonds depending on your financial goals. Here are the three main categories:
🔹 Tesouro Selic (Floating-Rate Bonds)
- Linked to the Selic rate (Brazil’s benchmark interest rate).
- Ideal for emergency funds and short-term investments.
- Low volatility – safest option for those who don’t want to risk losing money if they withdraw early.
✅ Best for: People who want low risk, liquidity, and stability.
🔹 Tesouro Prefixado (Fixed-Rate Bonds)
- Pays a fixed interest rate, regardless of market fluctuations.
- Best for those who want to know exactly how much they will earn at maturity.
- Can be risky if sold before maturity, as prices fluctuate with interest rate changes.
✅ Best for: People who want predictable returns and can hold the bond until maturity.
🔹 Tesouro IPCA+ (Inflation-Linked Bonds)
- Pays a fixed rate + inflation (IPCA index).
- Protects your money from inflation over the long term.
- Ideal for retirement and long-term investments.
✅ Best for: People who want long-term growth and protection against inflation.
4. How to Invest in Tesouro Direto (Step-by-Step)
Step 1: Open an Investment Account
To invest in Tesouro Direto, you need an account with an authorized brokerage firm (corretora de valores). Some popular options include:
- XP Investimentos
- NuInvest
- Rico
- BTG Pactual
- ModalMais
Choose a brokerage with low fees and a user-friendly platform.
Step 2: Transfer Money to Your Investment Account
After opening your account, transfer money from your bank to your brokerage account. Most brokers allow Pix or bank transfers.
Step 3: Choose the Right Treasury Bond for You
Decide whether you want Tesouro Selic, Tesouro Prefixado, or Tesouro IPCA+, based on your goals:
- Need an emergency fund? Tesouro Selic
- Want a fixed return? Tesouro Prefixado
- Want to protect against inflation? Tesouro IPCA+
Step 4: Buy Treasury Bonds Through the Tesouro Direto Platform
Log into your brokerage account, navigate to Tesouro Direto, and choose the bond you want to buy. You don’t need to buy a full bond—you can invest in fractions starting at R$30.
Step 5: Hold Until Maturity or Sell Early
You can:
✔ Hold the bond until maturity and receive the full return.
✔ Sell early if needed (but be aware that prices fluctuate).
5. Important Fees to Consider
Tax on Capital Gains (Imposto de Renda – IR)
- Up to 180 days: 22.5%
- 181 to 360 days: 20%
- 361 to 720 days: 17.5%
- More than 720 days: 15%
Custody Fee (B3 Tax)
- 0.2% per year for Tesouro IPCA+ and Tesouro Prefixado.
- No fee for Tesouro Selic (if you have less than R$10,000 invested).
6. Risks of Investing in Tesouro Direto
Although Treasury Bonds are safe, they still have some risks:
🔹 Market Fluctuation: If you sell Tesouro Prefixado or Tesouro IPCA+ before maturity, the price may be lower than what you paid.
🔹 Interest Rate Risk: If interest rates rise, the value of existing fixed-rate bonds falls.
To minimize risks, only sell your bonds before maturity if absolutely necessary.
7. Tips for Beginners
✅ Start with Tesouro Selic if you’re new to investing—it’s the safest option.
✅ Invest consistently—even small amounts grow over time.
✅ Hold bonds until maturity if possible to avoid price fluctuations.
✅ Diversify—don’t put all your money into one type of bond.
Final Thoughts
Tesouro Direto is a safe and accessible way to invest in Brazil, offering great returns compared to savings accounts. Whether you’re looking for short-term stability or long-term wealth building, there’s a Treasury Bond that fits your needs. The key is to understand your goals, choose the right bond, and stay patient.
💡 Start investing today, and let your money work for you!