After months of increases, term account rates are now trending downward, according to the Banque de France. And it’s not over. But this investment still remains attractive. Explanations.
A sudden stop. The remuneration of term accounts, which has continued to rise in recent years, following multiple rate increases by the European Central Bank to counter galloping inflation, is now on a downward trend.
According to the latest statistics from the Banque de France published this Friday, the average remuneration of term accounts over a period of up to two years is 3.63% in March. This is what emerges from the latest document devoted to the remuneration rate for bank deposits. However, it was still 3.92% in January.
More attractive rates than for booklets
In fact, banks are anticipating a rate cut from the European Central Bank from June. As a result, financial institutions are starting to be less generous. The online bank Monabanq, for example, has just announced a drop in rates from 4.40% to 3.60% for its 2-year CAT and from 4.80% to 3.80% for its 5-year ddi product, for example. .
Investment: rates close to 5%, here are the best term accounts for your savings
But the fact remains that the rates on term accounts are today often more attractive than bank accounts, the remuneration of which can be revised at any time. According to the Banque de France, their average remuneration was 0.91% in March.
Although at the same time several establishments offer boosted remuneration which today can reach 5% for 3 months at Monabanq or Fortuneo, but goes back to 2% afterwards.
For savers whose regulated savings accounts (Livret A, LDDS, etc.) are at the ceiling and who do not need to draw on their precautionary savings in the short term, the term account option which guarantees the announced rate for the entire duration of the contract is studied closely. But be careful, in the event of early withdrawal, penalties may apply.
Comparison of the best term accounts