9. French Bank Savings Accounts

1. European Tax Directive
2. Regulated Savings Accounts
3. Standard Savings Accounts
4. Home Buyers Savings Accounts

9.2. French Bank Savings Accounts - Livret A Etc

One of the distinguishing features of the French banking system is the large number of government regulated savings accounts in operation.

In effect, the French government sets the terms on which banks can offer these schemes.

Whilst there are limits on the amount you can deposit in these accounts, they offer an enhanced rate of interest, and, most importantly, they are free of French income tax and social charges.

With the reduction in interest rates in recent years, they have lost some of their allure, but that is the case for most forms of investment.

Accordingly, one or more of the accounts should form part of your savings/investment portfolio, particularly if you are resident in France.

A summary of these schemes, with maximum deposits and current interest rates are shown on the following table.

These rates apply from 1st Aug 2026. The Livret A rate fell from 3% (until January 2025) to a low of 1.5% in February 2026, as inflation eased. It has since risen to 1.7%, following a rise in inflation this spring.

9.2.1. Livret A

This is a savings account that historically was only available through La Poste and Caisse d'Epargne but since 2009 has been available through all banks in France.

It is a very popular savings account, with tens of millions of accounts held in France.

However, like all bank accounts, in recent years the savings rate has fallen sharply, although it has recently started to rise again. The rate of interest is 1.70%, calculated every 15 days. The rate is reviewed twice a year, on 1st February and 1st August, using a formula based on inflation and short-term interest rates, although the government can intervene.

All interest earned is exempt from French income tax and social charges.

The maximum amount that can be held on deposit in the account is €22,950 per person, plus accrued interest.

The account is open to children as well as adults, so a family of four can hold four accounts.

There is no residence qualification for this savings account. However, you are obliged to declare the interest earned in your own country, so the benefit to a non-resident will be reduced by the extent of any home based tax liability.

No cheque book or bank card is issued with the account, although a cash withdrawal card is provided, which can be used in the cash dispensers of your chosen bank.

The limits vary by bank, but typically the maximum cash withdrawal is €800 over any 7 day period, with only €500 available through a cash dispenser. At a post office you can normally withdraw the full balance.

You can pay standing orders and direct debits from the account, although banks have the discretion to refuse.

You can only have one Livret A account per person and it cannot be held in tandem with a Livret Bleu account, available from the Crédit Mutuel.

9.2.2. Livret Bleu

This is a savings account only available through the Caisses de Crédit Mutuel.

You can only have one Livret Bleu account per person and it cannot also be held in tandem with a Livret A account.

There is no residence qualification for this savings account.

The rate of interest is 1.70%, calculated every 15 days.

All interest earned is exempt from income tax and social charges in France.

The maximum amount that can be deposited in the account is €22,950 per person, plus accrued interest.

The account is open to children as well as adults, so a family of four can hold four accounts.

No cheque book or bank card is issued with the account, although a cash withdrawal card is provided, which can be used in the cash dispensers of your chosen bank.

You can pay standing orders and direct debits from the account.

9.2.3. Livret de Développement Durable (LDD)

The name of this account reflects the central investment purpose of the funds that are deposited on this account, although some of the funds are used for business development.

To have access to this savings account you must be fiscally resident in France and you can only hold two accounts per household (for a married couple).

It is generally available in all banks and can be used with other savings accounts, e.g. Livret A.

The rate of interest is 1.70%, calculated every 15 days.

The maximum that can be held on deposit is €12,000, excluding interest.

The interest is exempt from tax and social charges.

9.2.4. Livret d’Epargne Populaire (LEP)

This savings account is only available if you are resident in France.

It is also only available if your household's reference tax income (revenu fiscal de référence) is below a maximum threshold.

For 2026 the income test is based on your income for 2024, as shown on the income tax notice you received in 2025. If your income later reduced (2025) you can still make application, provided you offer suitable proof. In short, you do not lose eligibility if you exceed the threshold for only 1 year: the bank closes an existing account only if your income is still too high for a second consecutive year.

For 2026 the maximum reference tax income in mainland France is €23,028 for a single person, and €35,326 for a couple. It is increased by €6,149 for each additional 'half-part' of a household, e.g. a child. Higher limits apply in the overseas departments.

To open an account you will need to produce your income tax notice to the bank.

Married couples are each entitled to hold an account but there is a maximum of two accounts per household. The account is not available to children.

The maximum amount that can be held on deposit is €10,000 per person, plus accrued interest.

The rate of interest is 2.50%, calculated every 15 days. This is higher than the rate the standard formula would give (2.2%): the government has kept it at 2.5%, and by law it must stay at least 0.5 percentage points above the Livret A. It is reviewed on 1st February and 1st August.

The interest is exempt from income tax and social charges.

No cheque book or bank card is provided, but you are eligible for a cash withdrawal card.

The account is offered by most banks.

9.2.5. Livret Jeune

This is a savings account reserved for young persons between the ages of 12 years to 25 years.

It is only available if you are resident.

Banks are free to set their own interest rate on the account, but it cannot be lower than the Livret A rate, so it is currently at least 1.70%. Interest is calculated every 15 days and is free of income tax and social charges.

The maximum amount that can be held on deposit in the account is €1,600, excluding interest.

There is immediate access to cash and a cash withdrawal card is also available.

Next: Standard Savings Accounts

Back: European Tax Directive