- Personal Finance
A Brazilian bank account is great
A Brazilian bank account is a better investment than the stock market
In the current low interest rate environment, Brazil stands out. Even with the latest interest cut to 9.75%, interest rate for savings are around 10%. This is similar or a better return than the stock market with less risk. If you transfer money from abroad you will be exposed to exchange rate but if you receive local earnings you can put remaining earnings in a high interest rate account. To open a bank account you would need a visa and possibly CPF. Most western countries currently have very low interest rates which do not beat inflation. In this context Brazil stands out. If there is strong growth in the economy you could also benefit from a stronger Brazilian real and thus receive an additional gain. With a 10% interest rate it would take you approximately 7 years to double your money.