Regulated savings books

Livret A and LEP: reduction in rates of pay as of February 1, 2025

Publié le 16 janvier 2025 - Directorate for Legal and Administrative Information (Prime Minister)

The annual interest rate for Book A had been set at 3% since the 1er February 2023, and the popular savings account (SEP) at 4% since the 1er August 2024. The Ministry of Economy and Finance announced on January 15, 2025 a decrease in these 2 rates from 1er  February 2025, following the recommendations of the Governor of the Banque de France.

As of 1er february 2025:

  • the the annual interest rate for booklet A is set at 2,4 % (vs. 3% between 1er February 2023 and January 31, 2025);
  • the The annual interest rate on the People’s Savings Book (SMP) is set at 3.5% (vs. 4% between 1er August 2024 and January 31, 2025).

Booklet A is a paid savings account whose funds are available at all times. All banking institutions can offer it.

SMP is, for its part, specifically for low-income earners. To open one, you must meet certain conditions related to tax domicile and income.

The Banque de France is responsible for calculating, and proposing every 6 months to the Ministry of Economy and Finance, the rates of pay for regulated savings books such as the livret A or the livret d’pargne populaire. These rates are fixed by statutory calculation formulae; however, they may be derogated from in exceptional circumstances.

Please note

The Governor of the Banque de France indicated on 15 January 2025 that the calculation formula indicated a rate of pay of 2,4 % for livret A He said that “we have now emerged from exceptional circumstances and are winning our fight against inflation.”

With regard to SMP, the Governor of the Banque de France pointed out that the application of the formula would set a rate of 2.9%; he advocated a 3.5% rate of remuneration to limit the decline, keep a significant gap with the Livret A rate and promote this savings product.

The Ministry of Economy and Finance has therefore followed the recommendations of the Governor of the Banque de France.

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