Brazil savings accounts see R$ 10.5 billion net withdrawal in August

Brazilian savings accounts saw a net withdrawal of approximately R$ 10.5 billion in August, marking the largest monthly outflow since 2022. According to Central Bank data, deposits totaled R$ 357.7 billion while withdrawals reached R$ 368.2 billion. Despite these outflows, the total balance in savings accounts remains above R$ 1 trillion due to R$ 6.5 billion in credited interest.

This trend represents the third consecutive month of net withdrawals. The primary driver for this movement is the high Selic interest rate, currently at 14% per year, which encourages investors to seek higher-yield fixed-income assets rather than traditional savings.

Year-to-date, the cumulative net withdrawal for 2026 stands at approximately R$ 57.1 billion. While this is a significant outflow, it represents a slight improvement compared to the R$ 63.46 billion net loss recorded during the same period in 2025.