France’s most popular regulated savings account to lower its interest rate

Connexionfrance

France’s most popular regulated savings account to lower its interest rate"


Play all audios:

Loading...

LOWER INFLATION LEVELS CONTRIBUTE TO UPCOMING REDUCTION The interest rate of France’s Livret A savings account will fall by around 0.5% from February, the new finance minister confirmed this


morning.  It means the government-regulated and tax-free account will have an interest rate of around 2.5% (down from a current rate of 3%) although the exact figure will be published in


the coming weeks, said minister Eric Lombard in a radio interview on France Inter. “The Governor of the Banque de France, François Villeroy de Galhau, will make a proposal to the Ministry of


Finance, most certainly for a cut,” he said.  A change to the interest rate on a Livret A savings account - thought to be held by around 57 million people in France - is linked to the level


of inflation. In February 2023 the interest on a Livret A rose to 3% following an increase in the rate of inflation during the Covid pandemic. Further increases to the account’s interest


rate which were scheduled to follow were cancelled by then finance minister Bruno Le Maire, who locked in the 3% rate.  Interest on the account is calculated on the 1st and 16th of each


month, to reach a final amount on December 31 each year. This is then paid either on the final day of the year or the first week of the following year. Livret A accounts are flexible,


allowing for both deposits or withdrawals at any point.  Read more: Livret A savings: Why are they so popular? How do I open an account? Interest accumulated is tax-free and does not need to


be declared, however there is a maximum deposit limit of €22,950. This sum can accrue interest which can be retained within the account, but additional sums cannot be added. There is a


limit of one Livret A account per person. Children can also have an account in their name, opened by their parents/guardians.


Trending News

Psychologists say writing one thing will boost your mental health - Surrey Live

NewsPsychologists say writing one thing will boost your mental healthA new study has looked at the impact on traits such...

Professor explains exactly how quickly poor sleep damages your heart

A professor has explained how disrupted sleep is bad for your heart,m and says damage will start after just three nights...

Harrowing film based on a heartbreaking true story already has 92% approval rating - Surrey Live

NewsHarrowing film based on a heartbreaking true story already has 92% approval ratingThe Salt Path is based on the true...

The Surrey town where homes sell the fastest but residents wish it was ‘more like Guildford’ - Surrey Live

NewsThe Surrey town where homes sell the fastest but residents wish it was ‘more like Guildford’Locals wanted to see mor...

'I'm a farmer - I spotted one strange detail while watching Clarkson's Farm' - Surrey Live

News'I'm a farmer - I spotted one strange detail while watching Clarkson's Farm'A farmer has suggested that Clarkson's F...

Latests News

France’s most popular regulated savings account to lower its interest rate

LOWER INFLATION LEVELS CONTRIBUTE TO UPCOMING REDUCTION The interest rate of France’s Livret A savings account will fall...

Don’t get caught out if rates rise

Interest rates will start rising at some point. The only questions are when, by how much and whether you will still be a...

The page you were looking for doesn't exist.

You may have mistyped the address or the page may have moved.By proceeding, you agree to our Terms & Conditions and our ...

Marine share plans for new £8m stadium outside of crosby

THE CLUB PLANS TO KEEP ITS CURRENT SITE ON COLLEGE ROAD, CROSBY, BUT INTENDS TO BUILD A NEW STADIUM FOR HOME MATCHES DAN...

Netanyahu tries to lure opposition mps to seal election victory

Raf Sanchez Jerusalem 03 March 2020 5:47pm GMT Benjamin Netanyahu last night began trying to lure opposition MPs into jo...

Top