• Wed. Jan 19th, 2022

VIDEO – 3 questions about the popular savings account, an alternative to the A passbook – LCI


Jan 15, 2022

DECRYPTION – For the first time since 2011, the interest rate for the Livret A will increase, Bruno Le Maire announced on Friday. As a direct consequence, the popular savings account (LEP), still relatively unknown, will also become even more profitable.

A savings alternative. With inflation expected at 2.8%, the French are looking for long-term sustainable mechanisms to maintain their purchasing power. The popular savings account (LEP) could be the beginning of a solution. Concomitantly with the booklet A, he will see his interest rate increase on February 1, 2022, announced this Friday Bruno Le Maire on TF1.

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What is LEP?

The popular savings account (LEP) is a guaranteed and tax-exempt investment. Its interest rate, higher than that of the livret A, is

the highest figure between the Livret A rate increased by 0.5% and the average inflation observed over the last six months. Very safe, this investment makes it possible to protect the funds of savers with the most modest incomes. The opening procedures were simplified by a decree published in March 2021.

What are the differences with the booklet A?

The LEP is a product relatively similar to the livret A, with the difference that its interest rate is higher. Until then by 1%, it will be raised from February 1, Bruno Le Maire announced this Friday. Thus the rate should exceed the 2% threshold, to stand at 2.2%. In addition, deposits are limited to 7700 euros (interest paid by the bank is not included in this total).

Who can benefit ?

The LEP is reserved for people whose tax domicile is in France. However, not everyone is eligible. It is reserved for households with low incomes. Thus, to open an account on LEP in 2022, the tax income for the year 2020 (appearing on the tax notice for 2021) must not exceed 20,296 euros for a single person, or approximately 1,691 euros per month. This ceiling is increased to 31,135 euros for a household with two tax shares. Note that there cannot be more than two LEPs in the same tax household.

Read also

  • VIDEO – The Livret A rate doubled to 1%: will it once again become an attractive investment?
  • Booklet A: Bruno Le Maire reveals the new rate

Despite its strong appeal on paper, the LEP still suffers from a certain lack of notoriety: nearly 50% of French people who would be eligible for it do not have it. Today, 7 million households hold a LEP out of around 15 million who fulfill the conditions, indicates the Banque de France.

But then why such a discrepancy? “It is time-consuming, takes time for the banks to manage. So they don’t necessarily offer it”, explains Caroline Ménager, co-founder of Pix Pay. “Today, the eligible populations are not necessarily those that most interest banks.”

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