Livret A savings accounts grew by nearly 20 billion euros in the first three months of the year, the Caisse des dépts (CDC) said on Friday, a first since 2009, encouraged by the increase in the rate to 3% on February 1. .
A new record for the Livret A. The 55million Livret A savings accounts swelled by 20billion euros between January and March of this year. Last year, it took seven months to exceed this level of net receipts.
France’s favorite investment benefited from a historic month of March, with deposits exceeding withdrawals by 4.17 billion euros.
The cumulative outstandings of the Livret A and its cousin the Livret de développement durable et solidaire (LDDS) have been growing at record levels for several months. They weighed on March 31 the sum never seen of 535.1 billion euros.
These two products have benefited since last year from favorable decisions on the part of savers, who see in them the best guaranteed return possible for their savings.
The Livret A, better than life insurance
The rate of pay has in fact increased to 3% net since February 1. If it remains below inflation, it significantly exceeds the yields of euro life insurance funds, estimated at an average of 2% by the ACPR, excluding tax.
By way of comparison, only a little over 2 billion euros were collected by life insurance in January and February, indicated on March 29 France Assureurs, which will communicate final data at the end of March, at the end of next week.
The money deposited in the Livret A and LDDS savings accounts, capped respectively at 22,950 euros and 12,000 euros excluding capitalized interest, is guaranteed by the State, exempt from taxes and social contributions.
Managed jointly by the CDC and the banking networks, the Livret A is mainly used to finance social housing, while the LDDS is dedicated to the social and solidarity economy as well as energy savings in housing.
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