Bradesco’s disclosures about changes in the savings policy and the three alerts associated with the changes that will take effect today (21) have aroused considerable interest and concern among account holders.
Seeking to clarify issues and offer guidance to its clients, the bank compiled three notices about the possible repercussions of investing in this modality.
Bradesco, which is the second bank with the largest number of clients in Brazil, has around 3,000 branches open in the country (Photo: Disclosure)
Savings is a widely adopted choice for allocating resources in Brazil, with Bradesco emerging as one of the most prominent financial institutions in the country.
According to information provided on the Revista dos Beneficiários website, savings gains are closely linked to the basic interest rate, Selic. The methods used to calculate yields are as follows:
- When the Selic target rate per year is above 8.5%, the monthly yield will be 0.5% per month.
- When the Selic target rate per year is equal to or less than 8.5%, the yield will be 70% of the Selic target rate per year, monthlyized, in effect on the start date of the yield period.
To ensure that all clients are aware of the changes that occurred in 2012, Bradesco has gathered three alerts on its official website.
Alerts
Monthly compensation for deposits until May 2012
Clients who made deposits until May 3, 2012, enjoy a monthly yield rate of 0.5%, which is credited on the account anniversary. This rule covers all deposits made up to that date.
Monthly compensation for deposits from May 2012
For deposits made from May 4, 2012, the new Central Bank determination applies. If the Selic rate is equal to or less than 8.5% per year, the compensation will consist of 70% of the Selic Rate + TR, credited on the account anniversary.
In cases where the Selic rate exceeds 8.5% per year, the compensation will be TR + interest of 0.5% per month, on the account anniversary, following the same compensation policy applied to existing balances until 05/03/2012.
Priority for withdrawals
The third alert from Bradesco concerns the priority order for withdrawals from savings accounts. The withdrawal process follows the following sequence:
- First, the balance of deposits made from 5/4/2012 is withdrawn.
- After the exhaustion of these resources, the balance of deposits made up to the reference date 5/3/2012 is used.
According to the Revista dos Beneficiários, these guidelines established by Bradesco aim to ensure the correct application of savings account earnings and proper prioritization for withdrawals.
How to open an account at Bradesco?
Opening an account at Bradesco is easy and can be done in person at a branch or online through the app or website. To open an account in person, bring your ID, CPF, proof of income, and address to the nearest branch.
Online, access the website or app, choose the type of account, fill in your details, submit the documents, and wait for the analysis. In both cases, you will have access to various banking products and services. Including a free digital account, a credit card with benefits, and an extensive service network.
