The Fundo Garantidor de Créditos covers eligible deposit products at FGC-member institutions up to R$250,000 per depositor per institution, with a R$1,000,000 four-year aggregate ceiling. Eligibility is product-level, not group-level — a CDB issued by Nubank or Inter is FGC-eligible; an idle balance in a conta de pagamento at an IPMP is not.
For a saver who cares about both yield and protection, the rational pattern is straightforward: hold the everyday balance in the conta digital for PIX and card spend, sweep savings into a CDB issued by an FGC-member institution. Most BR neobank apps surface a one-tap CDB allocation — Nubank's "RDB" sub-product, Inter's "CDB Inter", C6's "CDB C6". The headline yields are typically expressed as a percentage of the CDI rate (e.g. "100% CDI") and float with Selic.
The four-year aggregate cap is the non-obvious rule. If you have ever been compensated by FGC for a previous bank failure, the R$1M ceiling counts down for four years from that event. For most depositors this never binds; for high-balance savers spreading across multiple institutions, it does.