The fall in interest rates of the European Central Bank (ECB) has the direct consequence of a fall in the returns on risk-free investments. Too bad for savers who want to invest their precautionary savings… However, they benefit from a period of reprieve, since the yield of the Livret A and the Cuaderno de Desarrollo Sostenible y Solidario (LDDS) is frozen at 3% until January 31, 2025. Better yet, these two products exempt from taxes and social security contributions now generate more than inflation, which fell below 2% this summer.
Beyond their payment limits (22,950 euros for the Livret A, 12,000 euros for the LDDS), we may be interested in ordinary bank passbooks and term accounts, whose interest is taxed (they are subject to the single flat-rate deduction of the 30%). And this time there is no reason to rejoice: the offers are already less interesting than at the beginning of 2024.
The remuneration bonuses offered to new clients thus amount to a maximum of 4% gross, compared to 5% and 5.25% a few months ago. Apart from promotions, the standard rate is 2.50% gross for the best ones (BoursoBank, Cashbee, Distingo, Placement-direct, Ramify) compared to 3% previously.
One exception: Bank Renault pays 2.75% on your Zesto savings account. “The freezing of the Livret A constitutes a brake on the fall in the remuneration of the pounds of the banks, which want to remain competitive because they need to collect,” specifies Marc Tempelman, co-founder of Cashbee, whose booklet earns 4% the first two months and then 2.50%, or 2.75% gross the first year.
Freeze your rate
For its part, Hello Bank! It is committed to the long term with an offer of 2.25%, slightly below the best on the market, but which the bank agrees to maintain for one year, up to 50,000 euros. It is very likely that in October 2025 the competition will be below.
Term accounts are also affected by falling interest rates.
Unlike prospectuses, their performance is fixed once and for all when you open them in exchange for locking up the funds, usually between six months and five years. “This is the last moment to get good offers, the rates on term accounts will continue to fall, as has been happening for three months. », Confirms Philippe Crevel, director of the Savings Circle.
Currently we find one-year rates between 2.80% (Placement-direct.fr) and 3% (Distingo Bank). Placement-direct.fr also offers 2.60% for two years, 2.65% for three years, 2.70% for four years and 2.80% for five years (annual rates). Why agree to lock up your money for five years when you get the same return for one year? “This allows you to freeze your rate without fear of being affected by the gradual deterioration of rates during the period”answers Gilles Belloir, general director of Placement-direct.fr.
