Regulated savings, as opposed to unregulated investments, are subject to rules set and monitored by the state. In turn, this type of savings guarantees a risk-free income, hence its frequent qualification as “father’s savings” or “precautionary savings”. What are its specifications, what are the relevant passbooks, its rates and what are their specifications? Here’s what you need to know.
New rates for regulated savings accounts-iStock-domimage.jpg
Controlled Savings: Which Products, Which Structure?
Regulated savings include: Livret A, Livret d’Development Durable et Solidaire (LDDS), which replaced the old Codevie, Livret d’Epargne Populaire (LEP), Livret Jeun, Plan d’Epargne Lodgment (PEL) and finally, Housing Savings. Account (CEL). All these products meet the following characteristics: to have them, you must follow certain eligibility rules, it is possible to have only one per category, the maximum amount that can be placed is limited, the payment amount and rate can meet certain requirements. The conditions, the rate of their remuneration and the tax benefits they offer are set by the state, the interest is paid only once a year, at the beginning of the year.
What are the specifications of the various products?
Given the increase in inflation, all regulated savings accounts have seen their interest rates rise, so that the French can retain the value of their savings. The table below details the rates and specifications applicable to each savings account as a result of this savings method. Rate: Payments are limited to: Minimum outstanding: Livret A The rate of this livret can theoretically be revised twice a year (February 1 and August 1) depending on changes in economic conditions and political decisions. But in July 2023, the Minister of the Economy, Bruno Le Maire, announced the freezing of the book rate, which will therefore be maintained at 3% until February 2025. €22,950.00 €10 LDDS 3% 12,000 €10 € LEP for reserved savers whose reference tax income does not exceed a certain threshold (20,296 euros for a single person without children in 2023). 5% from February 1 to July 31, 2024. But for previously subscribed LEP, the rate applied between August 1, 2023 and January 31, 2024 was 6% €10,000 €30 Youth Book 3%, minimum, but some banks offer. High rates to attract youth. €1,600 €10 PEL (gives access to regulated rate loans after 3 to 4 years of opening) 2.25%. It is the only book that has benefited from the increase in its remuneration rate beginning in 2024. This rate applies to the currently open PEL. And it remains in force throughout the life of the PEL. But some older PELs, opened at more advantageous rates, can still yield over 3% to their holders today. €61,200 First payment of at least €225 on opening, then at least €540 per year CEL (gives access to a loan at a controlled rate after 18 months of opening) 2%. Same conditions for PEL. €15,300 €300
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