While the remuneration of the Livret A and the LDDS will increase on August 1st, that of the Livret d’épargne populaire will on the other hand decline slightly on the same date. Explanations.
Cross trajectories for the rate of the Livret A and that of the Livret d’épargne populaire (LEP). On August 1, the yields of these fully tax-exempt savings products will be revalued. And following the presentation by Insee of inflation for the month of June, this Friday, it is already possible to announce what these booklets should bring you. Indeed, their remuneration results from calculation formulas which have already given their verdict. Pending formalisation by Bercy of the new interest rates for Livret A, Livrets de développement durable et solidaire (LDDS) and LEPs, by July 15th, Capital gives you their future theoretical yields.
As a reminder, the interest rate of the Livret A effective from August 1 is determined by taking into account, on the one hand, the average annual inflation measured over the last six months – namely between January and June 2023. -, and, on the other hand, the average interbank rate (€STR rate) over the same period. As for the yield of the Livret d’épargne populaire, it corresponds to the average of the annual price increases recorded over the first half of the year.
A rate of between 3.5% and 4% for the Livret A and the LDDS
With inflation down to 4.5% in June, the average price increase is precisely 5.58% over the last six months. As for that of interbank rates, it climbed to 2.66%. Result: the theoretical rate of the Livret A should reach 4.10% on August 1st, against 3% since February 1.
But do not rejoice too quickly, since the Banque de France and its governor, François Villeroy de Galhau, intend to limit the increase in the yield of the Livret A. In question, is the impact of an excessive revaluation of this rate on the banks and the social housing sector, the latter financing its construction and renovation activity. And the higher the remuneration of the Livret A, the higher the cost of borrowing increases for HLM offices. This is why the rate of the preferred savings account of the French could peak at 3.5% on August 1st, according to specialists interviewed by Capital. How much will a Livret A yield if this scenario materialises? At the ceiling of 22,950 euros, it will make it possible to obtain 803.25 euros in annual interest.
So, 3.5% or 4% for the Livret A rate? Response in the coming days, after the Governor of the Banque de France has given his recommendation to Bercy, the Minister of the Economy, Bruno Le Maire, having always so far followed the position of François Villeroy de Galhau to the letter. This decision will also impact the holders of an LDDS, the yield of the Sustainable and Solidarity Development Booklet being identical to that of the Livret A.
38.5 euros less annual interest for a ceiling LEP
If slight suspense remains concerning the rate of the Livret A and the LDDS, it is not so for the remuneration of the Livret d’épargne populaire. And for good reason, it corresponds to the average annual inflation recorded over the last six months.
Fixed at 6.1% since February 1, the LEP yield will therefore decline slightly to stand at 5.6% from August 1st. With a Livret A filled to the maximum, ie 7,700 euros, the interest received will be limited to 431.2 euros, against 469.7 euros with a yield of 6.1%. Or 38.5 euros less over a full year.
