The French who see their wool stockings nibbled away by inflation are not without resources. Indeed, some products protect better than others from rising prices. This is the case of the popular savings account (LEP) reserved for modest households, which now yields 6.1%. What to do much better than the booklet A and its rate of 3%. The French who are entitled to it are not insensitive to it. 9.6 million of them held a LEP at the end of June, 1.3 million more than at the end of 2021. A great success for this largely unknown investment just a few months ago.
But it is possible to do even better, estimates the Bank of France, which wants to reach 12.5 million holders by 2024. "This objective is equivalent to 2/3 of eligible households (18.6 million). With 3 million net openings by 2024, the number of LEPs will have almost doubled in two years. I believe that this is an excellent thing for the protection of savers, "said François Villeroy de Galhau, the governor of the Bank of France, on the occasion, this Tuesday, of the publication of the annual report of regulated savings.
To achieve this, LEP will benefit from two boosts. First, the rate, which depends on inflation, will be set at 6%. It's better than expected. The strict application of the usual formula would have resulted in a yield of 5.6%. A good point for savers, especially since conversely, the booklet A will see its rate stagnate at 3% on August 1, so as not to penalize social housing that the money placed inside these booklets finances.
But that's not all. The ceiling of LEP will also increase from 7600 euros to 10,000 euros. Enough to have a strong impact on deposits. Indeed, nearly one in two households holding a LEP is on the ceiling of this booklet.
Finally, the Bank of France will also put pressure on banks to disseminate this popular investment more widely. "Half of the people eligible for this product have a booklet A, but no LEP. This is not logical given the levels of remuneration of these two booklets, "pointed out François Villeroy de Galhau. "This placement suffers from a lack of notoriety. This must be remedied, with the mobilization of the banks."
Since 2021, bank advisors have the possibility, in conjunction with the tax authorities, to immediately know the eligibility of their clients. The DGFIP sent a letter to taxpayers eligible for LEP to notify them. Enough to allow the French who are entitled to it to be sure not to miss this product.