The outstanding amount of Livrets A and Livrets de développement durable et solidaire (LDDS) increased by more than 55 billion euros in 2023, a record since the ceilings were raised in 2012, according to data published Tuesday by the Caisse des Dépôts ( CDC).
The total outstanding amount of these two tax-exempt savings accounts stood at 564.9 billion euros as of December 31, 2023, compared to 509.7 billion a year earlier (+10.8%). In detail, the deposits of French savers exceeded the withdrawals of 39.91 billion euros from these two savings accounts with very similar characteristics. For Livret A alone, deposits even break a record.
Interest paid during the year 2023 (15.24 billion euros) broke records, especially as the rate rose to 3% on February 1. The month of December has t good for these two booklets, with 3 billion harvests.
Regulated savings are on the rise
Regulated savings have been on the rise again since the 2020 lockdown – when the French were forced to consume less – and even more so since the return of inflation led to a rise in rates, however modest. Fell its floor level of 0.5% in February 2020, the Livret A and LDDS rate increased to 1% in February 2022, then 2% in August 2022, to reach 3% since February 2023. This rate has been frozen – a priori until January 2025 – even though the calculation formula should currently give 3.9%.
The two regulated savings accounts have not been ashamed of the Euro life insurance funds, with guaranteed capital, whose return reached on average last year between 2 and 3%, excluding tax and social security deductions.
Life insurance rates 2023: the tops and flops of the new yields
And even with modest remuneration, the rise in prices also encourages the French to further optimize their savings by moving, for example, money lying dormant in current accounts to their Livrets A accounts. These money transfers have particularly benefited the Popular Savings Account (LEP)intended for low-income households, whose rate is 6%.
Its outstanding amount jumped by 50% in 2023, to 71.9 billion euros, including 20.67 billion in new contributions and 3.29 billion in interest. He knew a boost since October thanks to an increase in the ceiling, from 7,700 euros to 10,000 euros. The LEP rate must fall to 5% on February 1, a level which remains higher than inflation.
SIMULATOR. LEP 5%: here is the gain that awaits you in 2024 thanks to the boost in the rate
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