The ceiling of the Popular Savings Book (LEP), reserved for the most modest households, will increase from 7,700 euros to 10,000 euros on Sunday October 1, indicates a decree published Friday in the Official Journal.
It’s official. The ceiling of the Popular Savings Booklet (LEP) will increase to 10,000 euros this Sunday. The measure was announced in mid-July by the governor of the Bank of France Franois Villeroy de Galhau and the Minister of the Economy Bruno Le Maire, without a specific implementation date.
Any additional payment is prohibited when the account balance in a Popular Savings Account is greater than or equal to this ceiling, specifies the decree.
The new LEP 10,000 euros brings in twice as much as the Livret A, are you entitled to it?
Rate of 6%
The rate of the Popular Savings Book was lowered to 6% on August 1, compared to 6.1% previously. The authorities wanted to promote this savings product reserved for the most modest, since its return would have exceeded 5.6% if the calculation formula provided for by law had been applied.
In order to better protect the savings of the French from inflation, the Government has launched, since February 2022, several advertising campaigns and individualized contact to make this savings product better known. These campaigns, combined with a rapid increase in the rate of remuneration, have made it possible in a year and a half to increase from 6.9 million to almost 10 million holders, an increase of 45% in the number of holders, welcomes Bercy in a press release. Around 9 million people, although eligible for LEP, do not have one.
In fact, nearly 19 million French people are eligible. Thus, as an indication, a household with a tax share can benefit from it when its reference tax income is less than 21,393 euros.
The Livret A rate was maintained at 3% for a year and a half, whereas it should have increased to 4.1%. With around 55 billion euros in outstanding amounts, the LEP weighs ten times less than the Livret A and the Sustainable and Solidarity Development Booklet combined, the rate of which is also maintained at 3%.
LEP: 100 euros of interest per month thanks to the increase in the ceiling
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