When luck meets savings.

Those who purchase a capitalization bond are entered into a draw for various prizes. If they are not drawn, the money is returned with interest. It sounds like a great deal. But is it really worth investing in this type of product? 247 consulted experts to answer this question. Learn more about this product and see if it fits your profile.


The opinion of experts, even representatives of companies in the sector, is unanimous: capitalization is not an investment, but a way to save money and compete for prizes. This is because it offers no financial gain, except for those who are drawn in the lottery. At the end of the term, the client receives the money back only with an adjustment based on the TR (Reference Rate). 


Customers compete for prizes ranging from R$100 to R$10 million. But this doesn't make the product a lottery, explains José Ismar Torres, director of the National Federation of Capitalization (FenaCap): "These bonds are not a lottery, because in a lottery, if the number isn't drawn, the customer loses all the money invested," he states.



Benefits



According to the FenaCap executive, there are several good reasons to acquire a capitalization plan: it encourages the habit of saving, is affordable, lacks bureaucracy, doesn't require proof of income, and offers the possibility of winning various prizes throughout the term of the plan. "With the increase in workers' income and full employment, an army of consumers of financial products has emerged. And capitalization plans are a good entry point for this audience," explains Torres.


"No one can run a marathon overnight. You have to train," says the director of FenaCap, alluding to the role of capitalization in the market. "Consumers who are not used to financial products can invest in capitalization bonds to create the habit of saving. It's a very simple product, excellent for those who don't yet have much financial discipline."


The director of Caixa Capitalização, Luis Alberto Charry, believes that this product is a way for consumers who like to gamble to compete for prizes without spending money. After all, the entire amount invested is returned at the end. "The great attraction is the raffles, which end up being free. In addition, the bonds are excellent for people who have difficulty saving money, since the product is based on discipline because you have to be paying to compete for prizes."


Charry further explains that the chance of success in these types of product raffles is greater than in the lottery. "The chances of winning with a capitalization bond are very high. There are bonds at Caixa, for example, where the customer has a one in a thousand chance of winning," he says. To give you an idea, the probability of a person getting four numbers right in a simple Mega-Sena bet is one in 2.332.


According to Charry, capitalization offers products for people of various income levels: "At Caixa, for example, we have SUPERXCAP, which costs R$ 13 per month and entitles you to several prizes of up to half a million. On the other hand, there is CaixaCAP Fortuna, in which the client makes a single contribution of up to R$ 5 and competes for prizes of up to R$ 5 million for 24 months.



Another view



Some financial experts do not recommend capitalization bonds. This is the case with economist and finance professor at the University of Brasília, Roberto Piscitelli. "Capitalization bonds are the kind of product you buy when you want to please your bank manager," the economist says jokingly.


Even those who have difficulty saving should invest in another type of product, explains Piscitelli: "With a capitalization bond, the consumer has no financial gain whatsoever. Even for those with no investment experience, I don't recommend it. It's much more interesting to invest in a programmed savings plan. I only recommend capitalization bonds for those who like to gamble."



She saved and it paid off. Two years ago, Cláudia Souza, from Bahia, looked for a way to save money. Her bank manager suggested a capitalization bond, and she accepted: "When I bought the bond, I didn't even pay attention to the raffles. I just wanted a way to save money. I've always worked hard and I know it's important to save some of what you earn," she explains.


Just three months after acquiring the title, the good news arrived: Cláudia was drawn and won R$ 500. "The interesting thing is that if I weren't so organized, if I didn't have the will to save, I wouldn't have won this money," explains the woman from Bahia, who now lives comfortably in her own home in Salvador.



Market experiencing strong growth.



With revenues of R$ 16,5 billion from January to December 2012, the capitalization sector grew 17,6% compared to the previous year. The volume of resources injected into the economy, from the return of reserves accumulated by bondholders, reached R$ 10,6 billion last year, according to Fenacap.


During an industry workshop held earlier this month, the president of Fenacap, Marco Antônio Barros, explained that the expectation is to double revenue by 2016. "We intend to grow sustainably, invest in innovation, consolidate capitalization as an instrument of financial education, and combine our expansion with the country's social agenda."