The term accounts of traditional banks are sometimes more profitable than those of online players. Several banks are being very offensive.
Are your Livret A and your LDDS at the ceiling? Here is a risk-free savings product that is worth looking into: the term account.
According to statistics from the Banque de France, the average remuneration of term accounts over a period of up to two years is 3.92% at the end of January, a record for more than 10 years. An attractive remuneration whereas that of bank accounts is less than 1%, even if it can be boosted up to 5% for a few months on certain super accounts.
While interest rates are likely to fall in the coming months due to the slowdown in inflation, the term account has the advantage of locking in the rate of remuneration throughout its lifespan, which often ranges between 3 months and 5 years.
Only condition: agree to block your money for the planned period because in the event of early withdrawal, your savings risk being paid a reduced rate. While traditional banks tended to abandon term accounts, some now offer very attractive rates.
A rate of up to 4.25% at CIC
The CIC offers its Annual Term Account progressive rate which goes from 2.25% in the first year to 4.25% for the fifth and final year, i.e. an annualized rate of 3.25%. A product accessible from 150 euros payment. The barrier to entry is much higher at the Caisse d’Epargne: 50,000 euros minimum payment but the possibility of having a great rate of 3.70% on a term account with a duration of 6 months.
BNP Paribas hits even harder with a 4% term account over six months with a minimum payment of 50,000 euros and an unlimited ceiling, indicates the MoneyVox bank. The rate is 3.70% over one month, 3.80% for a 3-month term account and 3.35% over one year. But to benefit from it, you must have a current account with BNPP.
A condition is also required by certain online players such as for the 12-month CAT Distingo Bank, that of Monabanq or even BoursoBank which displays a rate of 3.25% for its CAT over 18 months. This is not the case for other players such as Placement-direct or the Raisin platform.
Before opening a term account, consider comparing the offers of online players, but if you are in a traditional bank, do not hesitate to ask if the latter does not offer a CAT at an even more attractive rate.
Compare the best term account offers