LIVRET A

Any natural person (adult or minor/resident or non-resident) can open a Livret A. The Livret A is opened on an individual basis: it cannot be opened as a joint account, that is, in the name of two people.

A single person may hold only one Livret A (or Livret Bleu from Crédit Mutuel).

An account may be opened for a protected adult, provided that he/she is duly represented or assisted.

The Livret A rate is 0.50% (rate in effect on 01/02/2020) net of taxes and social security contributions.

Interest is calculated using the anticipated interest and retroactive interest method. Withdrawals made before 31 December of the current year produce retroactive interest, which reduces the calculated anticipated interest, within the limit of the latter.

Amounts deposited bear interest from the first day of the fortnight following the deposit or transfer (the 16^th day of the same month or the 1^st day of the following month). Amounts withdrawn cease to bear interest from the first day of the fortnight during which the withdrawal occurs (either the 1^st or 16^th day).

Therefore, to avoid losing a single day of interest, you are advised to make your deposits before the 16^th or 1^st day of the month and your withdrawals after the 15^th or 30^th.

The Livret A ceiling is €22,950.
This ceiling can only be exceeded by capitalisation of interest.

Example: your Livret A is currently at €16,280 due to deposits and withdrawals made and capitalisation of interest.

You can therefore deposit €22,950 - €16,280, or €6,670.

A minimum of €10 applies for the Livret A for the initial deposit and subsequent deposits.

Savings can be deposited in the Livret A at any time or on a regular basis (monthly, quarterly, half-yearly).

The term of the Livret A is unlimited.

The taxation of the Livret A is particularly advantageous since bank interest is exempt from income tax and social security contributions.

For the main tax rules applicable to this product, please visit our Savings Tax area (FR).