Investing
Fixed Income in Brazil: Complete Guide
March 14, 2026
Brazilian fixed income offers options for all profiles, from ultra-safe Tesouro Selic to higher-risk, higher-return debentures.
Types of fixed income in Brazil
Tesouro Direto (Treasury): - Tesouro Selic: Safe, liquid, yields ~CDI. Ideal for emergency fund. - Tesouro IPCA+: Inflation-protected. Ideal for long-term. - Tesouro Prefixado: Fixed rate. Good when rates are high and expected to fall.
CDB: Issued by banks. Can yield % of CDI or CDI + spread.
LCI/LCA: Similar to CDB but tax-exempt for individuals.
CRI/CRA: Real estate/agro credit securities. Tax-exempt but less liquid.
Debentures: Corporate debt securities. Higher risk, higher potential return.
PaxMoney tracks all these types with value updates.