What is Renda Fixa?
Renda Fixa is a category of investments where you know (or can predict) how much you’ll get back. Unlike stocks, where the price fluctuates freely, in Renda Fixa the rules are defined at the time of application.
Types of Renda Fixa
| Investment | Issuer | FGC Guarantee | Liquidity |
|---|---|---|---|
| CDB | Banks | Yes (up to R$ 250k) | Varies |
| Tesouro Direto | Government | Federal Government | Daily |
| LCI/LCA | Banks | Yes (up to R$ 250k) | Generally 90+ days |
| Debentures | Companies | No | Varies |
| CRI/CRA | Securitizers | No | Low |
Advantages
- Predictability of return
- Lower risk than variable income
- FGC protection (up to R$ 250,000 per bank)
- Ideal for emergency reserve and short-term goals
Disadvantages
- Lower returns in the long term (vs. stocks)
- Regressive IR (the less time, the more tax)
- May lose to inflation if the rate is low
For whom is it indicated
- Investment beginners
- Emergency reserve (Tesouro Selic or CDB with daily liquidity)
- Short/medium-term goals (1-5 years)
- Conservative part of any investor’s portfolio