What is CDI? Rate and investment returns in Brazil
Learn what Brazil's CDI rate means, how 100% or 110% of CDI is calculated and how to compare net fixed-income returns.
CDI is a Brazilian financial-market benchmark used to compare fixed-income returns. A product paying 100% of CDI follows the benchmark before tax; 110% of CDI targets 1.10 times the reference rate. Use the Selic/CDI calculator to estimate gross and net returns.
For personal finance, CDI matters because it helps compare conservative investments. A product paying 90% of CDI is very different from one paying 110% of CDI, but the percentage is not the whole story.
On August 28, 2026, the latest business day available in the August 31 query, the Central Bank daily series listed DI/CDI at 13.90% a year. Use this as a scenario reference and update the calculator field when checking newer data.
How CDI is used
Banks and platforms use CDI as a benchmark for CDBs, LCIs, LCAs, remunerated accounts and fixed-income funds. The investor receives a percentage of CDI, such as 95%, 100% or 110%, depending on product risk and conditions.
If the product has daily liquidity, the rate may be lower. If the money is locked for longer or the issuer takes more risk, the rate may be higher.
What to compare beyond the percentage
- Income tax and IOF rules.
- Liquidity and redemption time.
- Issuer risk and FGC coverage when applicable.
- Fees charged by the product or platform.
- Whether the return is gross or net.
How to simulate CDI returns
Use the Selic/CDI calculator to test initial value, monthly contributions, annual rate and tax. The simulation is simplified, but it helps compare scenarios before choosing a product.
Sources consulted
We use official or institutional sources for external concepts and data. Examples, comparisons and editorial conclusions are produced by Custo Real Brasil.
- Interbank Deposit and DI Rate methodologyB3
- Selic rate: definition, operation and historyBanco Central do Brasil
Calculate with your own numbers
Selic/CDI return calculator
Simulate gross and net returns with initial value, monthly contributions, term, annual rate, taxes and monthly fees.
FAQ
Is CDI the same as Selic?
No, but they usually move close to each other. Selic is Brazil's policy rate; CDI is a market reference for interbank loans.
What does 100% of CDI mean?
It means the product aims to pay a return equal to the CDI rate before taxes and possible fees.
Is a higher CDI percentage always better?
Not always. Taxes, liquidity, credit risk, guarantees and fees must also be compared.