Savings withdrawals total R$ 12.7 billion in July, the largest withdrawal for the month since 1995

Faced with the rise in prices in the economy and the increase in the Selic rate, withdrawals from savings accounts totaled R$ 12.7 billion in July, the Central Bank reported this Thursday (4th). This was the largest outflow of funds for the month in the BC historical series, which began in 1995.

The withdrawal last month is more than five times greater than the previous negative record for the period, in 2015 (-R$ 2.45 billion).

In June 2022, withdrawals amounted to BRL 3.75 billion, while in July 2021, the balance was positive by BRL 6.37 billion.

More numbers from 2022

In the year through July, savings also have withdrawn funds, amounting to R$ 63.15 billion, a volume that exceeds the entire year of 2015, the most negative in the historical series (-R$ 53.56 billion).

In 2022, only the month of May recorded net deposits, of R$ 3.51 billion.

In July, BRL 290.421 billion were placed and BRL 303.08 billion was withdrawn in savings. Considering the income of R$ 6.263 billion, the total balance of the booklet amounted to R$ 1.007 trillion at the end of the seventh month.

historic brands

In 2021, the savings account had the third worst annual performance in history, with net withdrawals of BRL 35.49 billion, after recording a record in 2020 (BRL 166.31 billion), amid emergency aid and the biggest trend of families to save money at the beginning of the covid-19 pandemic.

Currently, with the Selic rate at 13.75% per year, savings are remunerated at the reference rate (TR), currently at 0.2420% per month (2.94% per year), plus a fixed rate of 0.5 % per month (6.17% per year). When the Selic is below 8.5%, the update is carried out with TR plus 70% of the basic interest rate.