Brazil’s Savings Accounts Post R$85.6 Billion Net Outflow in 2025, Despite December Rebound

Overview

• Central Bank data show deposits of R$4.27 trillion and withdrawals of R$4.36 trillion in 2025, resulting in a R$85.6 billion net outflow.
• Net withdrawals marked the fifth consecutive year of outflows, and the total savings balance ended 2025 at R$1.02 trillion.
• December recorded a R$5.41 billion net inflow, with R$432.81 billion in deposits and R$427.40 billion in withdrawals.
• Authorities say the mandatory 65% allocation of savings to housing credit and related compulsory deposits will be phased out after a transition to expand mortgage lending.
• With the Selic rate at 15% and savings returns capped at 0.5% per month plus TR, analysts report investor migration to alternatives such as Tesouro Selic and daily-liquidity CDBs.