However, all should experience a sharp rise in their interest rates in 2023, against a background of inflation.
Interest rate: 3% for Livret A and LDDS…
With inflation crossing the symbolic 6% mark in October 2022 for the second time this year, banks and savers are preparing for it: savings account interest rates will increase. The government could hardly oppose it because the French would find it difficult to understand and continue to be stunned by the rise in prices.
The two savings books most used in France, the Livret A and the Livret de Développement Durable et Solidaire (LDDS) will therefore be upgraded in February 2023, on the basis of a calculation that the Banque de France will make in January 2023 with the final inflation data for December 2022 from INSEE. If inflation, as expected, remains stable and high, the future rate could be 3%. Interests that are tax-exempt and desocialized.
… 6% for LEPs…
For the third desocialized and tax-exempt booklet, the LEP (People’s Savings Book)the question does not even arise: the law fixes that this one must have an interest rate identical to inflation. The 1is February 2023, it could reach and even exceed the 6% interest rate. But beware: the LEP is only accessible on condition of resources.
It will also be noted that Young people’s booklets should also see their rate change. If the rates are freely set by the banking establishments, they cannot be lower than that of the Livret A and the LDDS.
… and CEL and PEL interest rates also rising?
But savings books are not the only ones whose interest rates should experience an upward trend in 2023.
The PEL (Housing Savings Plan) will be able to make a strong comeback after experiencing a lack of love on the part of savers. Its interest rate in 2022 is indeed not very interesting: 1%, stable for almost 5 years. But it has the advantage of not being indexed to inflation but to other banking products. In 2023, it could reach 2%… which will only impact open PELs after the increase, the rate of the PEL being definitively fixed at the time of the opening.
Finally, the CEL (Home Savings Account) could experience a rate increase and reach 2% (against 1.25% in 2022). The calculation will be made in January 2023, as for the Livret A and the LDDS.
It should be noted, however, that apart from the LEP, designed to protect savings from inflation, all the rates mentioned should be lower than inflation in 2023, despite an expected drop in the latter. Depositing savings there therefore leads to a loss of purchasing power.