Until now, the popular savings account, dedicated to low-income households, is remunerated at 6.1% and allows you to deposit up to 7,700 euros. Although the rate was boosted in the face of inflation, the payment ceiling had remained blocked since 2002! Bruno Le Maire announced to raise the ceiling to 10,000 euros.
Bad news, the rate of Livret A remains blocked at 3% when it could have climbed 4%. Almost good news: the Livret A rate will be maintained at 3% for 18 months when it could have fallen below this bar during 2024. The Livret A subject is therefore closed until January 2025, following Bruno Le Maire’s announcement . But changes have been announced for LEP.
1. A rate of 6% when it could have fallen more sharply
This Thursday, July 13, at 1 p.m. on TF1, the Minister of Economy and Finance has two surprises in store for LEP. First of all, it followed the recommendation of the Banque de France by setting its rate 6% until the end of 2023, against 6.1%. It is, this time, real good news in the sense that the calculation formula normally led to a rate of 5.6%.
Livret A, LEP, LDDS… Here are the official rates as of August 1, 2023
2. A port payment cap of 10,000 euros
Here is another good news for modest savers: the LEP ceiling, blocked at 7700 euros for more than 20 years, is released. It was Franois Villeroy de Galhau, the Governor of the Banque de France, who mentioned Bruno Le Maire an increase in its ceiling from 7,700 to 10,000 euros.
MoneyVox has devoted a file to these ceilings which have remained frozen since… January 2002 in the case of the popular savings account (LEP). If it had been indexed to inflation, this ceiling would have exceeded 10,000 euros. Several observers from the economic and banking world already judged, in February 2023, that an increase in the LEP ceiling was legitimate in the context of high inflation. This ceiling will therefore be raised to the level it should have been if it had been increased at the rate of inflation over the years.
PEL, Livret A, LEP, taxes… These 10 limits have been blocked for 10, 20 or even 30 years!
3. A real popular placement: who has the right to open a LEP?
Short version: to open an LEP, you have to pay little or no income tax. Long version: it all depends on your reference tax income (RFR), which must not exceed the following thresholds.
| Reference tax income ceiling for holding a LEP in 2023 | ||||
|---|---|---|---|---|
| Shares of family quotient | Metropolitan France | Martinique, Guadeloupe, La Runion | Guyana | Mayotte |
| First part | 21393 | 25314 | 26466 | 39665 |
| Surcharge for the first additional half share | + 5713 | + 6047 | + 7286 | + 10912 |
| Increase for the following additional half-shares | + 5712 | + 5712 | + 8557 | |
| Either for 2 tax shares (husband or PACS couple, single person with one child, single person with 2 children) | 32818 | 37073 | 39464 | 59134 |
Good to know: the opening has clearly been simplified. It is no longer necessary to present a recent tax notice in order to open this booklet. The bank has the authorization to question the tax authorities to verify your eligibility.
The number of LEPs has already grown strongly since the end of 2021, from 6.9 million to 9.7 million in May 2023, explains the Banque de France in a press release. With a fixed rate of 6% and an increased ceiling of 10,000 euros, the objective would be to reach at least 12.5 million LEP within a year, or more than two-thirds of the 18.6 million eligible French people (compared to only 37% at the end of 2021), adds the Banque de France. Bruno Le Maire has invited all French people who can open an LEP, which remains the only precautionary savings investment that really protects your money from inflation.
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