Livret A stagnates in November, LEP benefits

2023-12-21 14:25:49

In detail, withdrawals from Livrets A and Livrets de développement durable et solidaire (LDDS) exceeded deposits by around 70 million euros, according to figures shared Thursday by the Caisse des Dépôts (CDC).

The month of November is, traditionally, rather lean for French savings, apart from the exceptional years of 2012 and 2020, due respectively to an increase in the Livret A ceiling and a massive slowdown in spending due to Covid-19.

A boost

The outstanding LEP, cousin of the Livret A reserved for the most modest, was expanded by 2.8 billion euros, to reach 66.6 billion euros, a record. Driven by a remuneration rate of 6% net since February 1 (without taxes or social security contributions), this regulated savings product is in full swing this year, with nearly 18.7 billion euros collected since January.

It has seen a boost since October thanks to an increase in the ceiling, from 7,700 euros to 10,000 euros. Livret A and LDDS accounts have grown by 36.9 billion euros since the start of the year, reaching a total outstanding amount of 546.6 billion euros. The competing product with guaranteed capital, the euro fund, looks gloomy. Over the first ten months of the year, its outstanding amount fell by more than 25 billion euros.

A rate of 2.75% in December 2023

At 3% net, A savings accounts are much better paid than euro life insurance funds, of around 1.59% net of fees and social security contributions, according to calculations from the information site on life insurance. Good value for money life insurance.

But insurers and bankers will try to take their revenge next year. Ahead of the traditional announcements of rates served by euro funds in January, the private bank Milleis, formerly Barclays France, announced on December 18 a rate of 2.75% for its euro fund.

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