Low-Risk Investments in 2026: Where to Start
If you are taking your first steps in the world of investments—or simply want to place your reserves in a safer place than a checking account—you know that the word “risk” can cause quite a bit of hesitation. The good news is that the Brazilian financial market offers options designed precisely for those who prioritize asset preservation and predictable returns. The challenge, however, is to navigate this variety without getting lost in jargon or making poorly informed decisions.
It is important to make it clear from the start: every investment involves some level of risk, even those considered “conservative.” What changes is the type and intensity of that risk. Low-risk investments generally sacrifice some potential return in exchange for greater security and liquidity. Understanding this balance is the first step to investing consciously.
In this article, you will learn about the main low-risk investment options available in Brazil in 2026, understand how each one works, their strengths and limitations, and find out how to start in a practical and informed way.
Why Choose Low-Risk Investments?
Before listing products, it is worth understanding in which situations it makes sense to prioritize security over maximum profitability.
Conservative investments are especially recommended for:
- Emergency fund: the money you might need at any moment should be in a safe and easily accessible place. Learn more about structuring this financial cushion in Emergency Fund: What It Is and How to Build Yours.
- Short-term goals: travel, down payment on a property, car exchange—goals with a timeframe of up to two or three years require less exposure to volatility.
- Conservative profile: investors who lose sleep over market fluctuations may feel more comfortable in fixed income.
- Transition period: those moving from riskier applications or still studying the market can use fixed income as a “safe harbor” while learning.
There is no single answer about what percentage of the portfolio should be in fixed income. It depends on your investor profile, your goals, and your time horizon—and it is precisely to help with this analysis that there is a registered investment professional with the CVM.
Tesouro Direto: The Federal Government Program
Tesouro Direto is a program by the National Treasury, in partnership with B3, that allows individuals to buy federal public bonds over the internet. It is considered the fixed income investment with the lowest credit risk in Brazil, as the issuer is the federal government itself.
Main Bonds Available
- Tesouro Selic: follows the Selic rate, the basic interest rate set by the Central Bank. It is most recommended for emergency funds due to its low volatility and daily liquidity.
- Tesouro Prefixado: the return is defined at the time of purchase. You know exactly how much you will receive if you hold the bond until maturity.
- Tesouro IPCA+: combines a fixed rate with the variation of the IPCA (official inflation), protecting the investor’s purchasing power.
Advantages
- Accessible from small amounts (check the current minimum value at tesouro.economia.gov.br)
- Federal government guarantee
- Diversity of terms and indices
- Simple and transparent official platform
Risks and Disadvantages
- Market risk: if you need to sell before maturity, the price may be below expected, especially in Prefixado and IPCA+.
- Taxation: Income Tax is levied on earnings, with regressive rates (from 22.5% to 15%, depending on the term). There is also IOF for redemptions in less than 30 days. Check the current rules with the Federal Revenue Service.
- Custody fee: check if there is a fee charged by B3 and the brokerage used.
To understand how to declare these investments in income tax, access: Tesouro Direto: how to declare in income tax.
CDB: Certificate of Deposit
The CDB is a bond issued by banks to raise funds. By purchasing a CDB, you lend money to the financial institution and receive interest in return. It is one of the most popular fixed income products among Brazilian investors.
How Profitability Works
Most CDBs offer profitability linked to the CDI (Interbank Deposit Certificate), which tends to be very close to the Selic rate. You will find offers like “100% of the CDI,” “110% of the CDI,” among others. The higher the CDI percentage, the better—but pay attention to the term and liquidity.
There are also fixed-rate CDBs and CDBs linked to the IPCA. To better understand how this product works in practice, read: CDB: what it is and how this investment works.
Advantages
- Coverage by the FGC (Credit Guarantee Fund) up to R$ 250,000 per CPF per institution (with a global limit of R$ 1 million—check the current limits at fgc.org.br)
- Variety of terms and returns
- Available in large banks and fintechs, often with low minimum application
Risks and Disadvantages
- Credit risk: the issuing bank may face financial difficulties. The FGC exists precisely to cover this risk, but within the limits mentioned.
- Liquidity: many CDBs do not allow redemption before maturity, or penalize the investor with lower profitability.
- Taxation: same regressive IR table that applies to Tesouro Direto.
LCI and LCA: IR Exemption for Individuals
Real Estate Credit Letters (LCI) and Agribusiness Credit Letters (LCA) are bonds issued by banks, backed by credits from the real estate and agricultural sectors, respectively.
The Tax Differential
The main attraction of these letters is the Income Tax exemption for individuals. This means that, even offering a seemingly lower CDI percentage than a CDB, the net return may be higher. Always compare net returns, not gross ones.
> Attention: exemption rules may undergo legislative changes. Check the current conditions with the Federal Revenue Service before investing.
Advantages
- IR exemption for individuals
- Coverage by the FGC (same limits as CDB)
- Diversity of terms
Risks and Disadvantages
- Restricted liquidity: generally have a minimum grace period (check the specific conditions of each issuer).
- Credit risk: as with CDB, there is issuer risk.
- Availability: do not always offer competitive returns at all points in the interest cycle.
Fixed Income Funds: Diversification with Professional Management
Fixed income funds pool money from various investors to invest in a portfolio of fixed income assets, managed by a professional. They are regulated by the CVM and must have their documents—such as the regulations and information sheet—available for consultation.
Advantages
- Automatic portfolio diversification
- Professional management
- Accessible with low amounts on many platforms
Risks and Disadvantages
- Management fee: directly reduces profitability. Funds with high fees may lose to simpler alternatives.
- Come-cotas: semi-annual advance taxation (in May and November) that reduces the investor’s number of shares. Check the applicable rate for the type of fund.
- No FGC coverage: unlike CDB and LCI/LCA.
- Market and credit risk: depending on the fund’s portfolio.
Before investing in any fund, read the regulations and sheet available on the CVM or the distribution platform.
How to Start: A Practical Step-by-Step
- Define your goal and timeframe: for an emergency fund, prioritize daily liquidity. For medium-term goals, you can accept lower liquidity in exchange for profitability.
- Know your investor profile: brokerages and banks are required to apply a suitability questionnaire. Answer honestly.
- Open an account with a brokerage or investment bank: research fees and the variety of products offered. Check if the institution is regulated by the Central Bank and/or the CVM.
- Check current rates: the Selic rate is set by the Copom and published by the Central Bank at bcb.gov.br. The CDI is published by B3. Use this information to compare products.
- Compare net returns: always deduct IR, IOF, and fees before comparing different options.
- Start small and learn: it is not necessary to invest large amounts initially. The most important thing is to create the habit and understand how each product behaves.
- Gradually diversify: over time, you can combine different fixed income products—and eventually explore other risk profiles.
Conclusion: Security Does Not Mean Giving Up Profitability
Low-risk investments are not synonymous with insignificant returns. In a scenario of structurally higher interest rates, Brazilian fixed income offers alternatives that can outperform inflation and consistently and predictably preserve—and grow—your assets.
The path begins with education: understanding what you are buying, what risks are involved, and how each product is taxed. Then, it is a matter of discipline and careful comparison between available options.
Remember: the best choice is the one that fits your goal, your timeframe, and your profile—not necessarily the one that yields the most on paper.
> Educational Note: This article is for educational and informational purposes only. It does not constitute an investment recommendation, offer to sell, or solicitation to buy any financial product. Past returns do not guarantee future results, and all investments involve risks. For decisions appropriate to your individual financial situation, consult an investment professional or advisor duly registered with the CVM (Comissão de Valores Mobiliários).
- Know your investor profile: brokerages and banks are required to apply a suitability questionnaire. Answer honestly.
- Come-cotas: semi-annual advance taxation (in May and November) that reduces the investor’s number of shares. Check the applicable rate for the type of fund.
- Management fee: directly reduces profitability. Funds with high fees may lose to simpler alternatives.
- Credit risk: as with CDB, there is issuer risk.
- Restricted liquidity: generally have a minimum grace period (check the specific conditions of each issuer).
- Liquidity: many CDBs do not allow redemption before maturity, or penalize the investor with lower profitability.
- Taxation: Income Tax is levied on earnings, with regressive rates (from 22.5% to 15%, depending on the term). There is also IOF for redemptions in less than 30 days. Check the current rules with the Federal Revenue Service.
- Tesouro Prefixado: the return is defined at the time of purchase. You know exactly how much you will receive if you hold the bond until maturity.
- Short-term goals: travel, down payment on a property, car exchange—goals with a timeframe of up to two or three years require less exposure to volatility.
