Good news, from 1 February the rate of the Livret A passes from 2% to 3%, the same for the LDDS. The rate of the People’s Savings Book reached 6.1%. This is what the Minister of the Economy, Bruno Le Maire, has just announced this Friday.
Lucky day on Friday the 13th for savers. The Minister of the Economy Bruno Le Maire revealed during the 1 p.m. news on France 2 the new rates for the Livret A, the Livret de développement durable et solidaire (LDDS) and the Livret d’epargne populaire (LEP) as of February 1. 2023. This is very good news, said the Minister of the Economy.
A rate not seen since 2009
For the savings product preferred by the French, the Livret A, the rate will go from 2% to 3%. A level unseen since January 2009: at the time, for the first time, all banks could offer the Livret to their customers, at a rate of 4%.
The LDDS, whose remuneration is identical to that of its false twin, the Livret A, will also go from 2% to 3%. This is the third time in a year that the Livret A rate has been revised upwards. He was still only 0.50% in January 2022. Its rate has therefore tripled in just 12 months!
This announcement by the Minister of the Economy comes just after the formalization this Friday morning by INSEE of the consumer price index excluding tobacco which reached 6% over a year in December. Indeed, the Livret A rate is revised every six months, in particular according to inflation, but also to changes in interbank rates.
Shortly before Bruno Le Maire’s announcement, the Governor of the Banque de France recommended increasing the Livret A rate 3% and that of LEP 6.1%.
LEP rate takes off
Indeed, a regulated savings product will do even better than the Livret A and the LDDS from next month. It’s about People’s Savings Booklet, or LEP. Currently remunr 4.60%, it will climb 6.1%. More than ever, LEP is today the only bulwark like inflation. A booklet, accessible subject to income conditions, and reserved for low-income households. According to the latest figures from the Banque de France, in 2022, nearly 8.5 million individuals had one. But more than 18million French people are entitled to it. As a result, more than one out of two individuals eligible for the LEP has not yet benefited from it.
| Reference tax income ceiling for holding a LEP in 2022 | ||||
|---|---|---|---|---|
| Shares of family quotient | Metropolitan France | Martinique, Guadeloupe, La Runion | Guyana | Mayotte |
| First part | 20297 | 24018 | 25110 | 37663 |
| Surcharge for the first additional half share | + 5420 | + 5737 | + 6912 | +10354 |
| Increase for the following additional half-shares | + 5420 | + 5420 | + 8118 | |
| Either for 2 tax shares (husband or PACS couple, single person with one child, single person with 2 children) | 31137 | 35175 | 37442 | 56105 |
If your conditions of resources allow you to have an LEP, go to your banker to claim it. With a rate of 6.1% from 1 February, LEP is definitely the star placement from this beginning of 2023. No other will offer you such a return with such security.
Rates in effect from February 1, 2023
Here is the only booklet that will protect you from inflation in 2023 (and it’s not the Livret A)