Having gone from 4.6% to 6.1% at the start of 2023 then 6% since August, the Popular Savings Account is preparing to close a record 2023 from all points of view. Even by closing the accounts at the end of September, the LEP is already postponing its previous annual collection record to the Greek calendars.
In the family of bank books, the bestseller of the year 2023 remains the Livret A, which already drains more than 30 billion euros over the first three quarters. With a ceiling fixed until now at 7,600 euros and raised to 10,000 euros on October 1, and access reserved for households with little or no tax, the Popular Savings Booklet (LEP) obviously does not play in the same league. But, it still does better than the LDDS of January September 2023 according to data from the Caisse des Dépôts, which details the LEP collection for the first time: 11.1 billion euros more on the LEP in 9 months, compared to only 10.7 billion on the LDDS.
In just 9 months, LEP has already had a record year. The statistics from the Caisse des Dépôts go back to 2008, for this booklet which has existed since the beginning of the 1980s. The year 2022 marked that of the rebound, with nearly 9 billion euros in collections, after years of withdrawals, due to sufficient publicity for this booklet in the major banks. As of July, the LEP has exceeded its score for the year 2022 and will end the year 2023 well above its recent standards.
| Anne | Annual net collection |
|---|---|
| 2014 | -2.54 billion euros |
| 2015 | -1.29 billion euros |
| 2016 | -1.46 billion euros |
| 2017 | -1.3 billion euros |
| 2018 | -1.35 billion euros |
| 2019 | -4.36 billion euros |
| 2020 | -0.33 billion euros |
| 2021 | -1.48 billion euros |
| 2022 | +8.28 billion euros |
| 2023 from January September | +11.1 billion euros |
Source: Deposit and consignment office
An unbeatable rate of 6% net of tax
Accessible to half of tax households in France, the LEP currently displays an unbeatable return: 6% since August 1, 2023, compared to 3% for the Livret A or the LDDS. Returns net of all taxes.
Livret A, LDDS, LEP: how much interest will you really receive in 2023 with the new rates?
Its outstanding amount, at the end of September, was 59 billion euros, returning to a level unknown since 2009, observes economist Philippe Crevel. The LEP benefits from its high remuneration, 6%, as well as additional media coverage. The number of LEP openings would be increasing sharply given that the rate of equipment for eligible people was until recently quite low. The LEP holding rate by individuals in relation to the adult population was 15.5% in 2022, according to the Banque de France when the number of individuals eligible for the LEP was 18.6 million at the end of 2022. 44% of eligible people thus had a LEP.
18.6 million French people are eligible for the Popular Savings Booklet, according to the Banque de France in its latest report from the Regulated Savings Observatory, published in July 2023. From the same source, at the end of May, 9.7 million French people hold a LEP. This is 3 million more than at the end of 2021 but the Banque de France is targeting 12.5 million LEP by 2024.
LEP: new 2023 rate, new ceiling and conditions… everything you need to know about this 6% booklet