What is CDI?

The CDI (Interbank Deposit Certificate – Certificado de Depósito Interbancário) is the interest rate used in loans between banks. In practice, it is the reference for most fixed‑income investments in Brazil.

CDI vs Selic

The CDI closely follows the Selic rate (usually 0.10% lower). If the Selic is at 14.75%, the CDI is around 14.65%.

Why does it matter?

When an investment yields “100% of the CDI”, it means it pays exactly the CDI rate. Examples:

  • 100% CDI = standard yield
  • 110% CDI = above average (good)
  • 80% CDI = below average (bad, like a savings account)

How much does it yield?

With CDI at 14.65% per year:

  • R$ 1,000 invested = ~R$ 146.50/year (gross)
  • After deducting income tax (15‑22.5%), it’s between R$ 113 and R$ 124/year net