CDB
A Bank Deposit Certificate is the deposit based on time, in a bank or savings and loans institution. When buying a CDB, people automatically agree on leaving their money at the bank for a certain period, which may vary from 30 days to years. As an exchange, the bank guarantees a higher interest rate than the one paid in savings account. CDB presents daily liquidity, however it is subject to IOF, pursuant to the Federal Revenue Service table. There is also Withheld Income Tax in the redemption, equivalent to 20% of yields.
RDB (Bank Deposit Receipt)
Bill issued by commercial and investment banks, representative of term deposits. RDB can not be transferred and does not present liquidity, which means, redemption is only possible on due date. Incicence of 20% of Withheld Income Tax on yields.
CDI (Interbank Deposit Certificate)
Bill issued by commercial and investment banks that can only be sold to Financial Institutions. CDI does not present minimum expiring date and it is not subject to Withheld Income Tax.
Government Bonds
Government Bonds are issued by the National Treasury or by the Central Bank, by state or municipal governments. Features of the bonds issued by the National Treasury or by the Central Bank: short and mid-term; low risk, interest rates lower than those issued by banks and companies.
Bonds from states and municipalities usually present more risks than those issued by the Government. As a consequence, they present higher interest rates. With the estabilization, the government started issuing bills with longer terms, which usually pay higher interest than bills with shorter term.
Low risk or zero risk is explained by the concept that the Federal Government does not go bankrupt.
Investment Funds
A group of shares, bills and other securities (that belong to the Investment Fund) managed by investment professionals. When buying shares from an investment fund, the money invested is added to other investors' money.
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