More than three months to take advantage of the interest rate of Livret A at 2.4%. The yield of this tax exemption product, held by 57 million French people, will indeed fall on August 1, 2025. The direct consequence of the decline in inflation, the increase in prices having been contained again at 0.8% in April, according to the provisional data published by INSEE this Wednesday, April 30. Thus, after inflation excluding tobacco of 1.6% in January, then 0.7% in February, March, the price increase is again at very low level.
If it is therefore good news for consumers, it is much less so for holders of an A booklet. Because as a reminder, its interest rate, revised twice a year – on February 1 and August 1 – is calculated on the basis of a calculation formula which takes into account the average annual inflation excluding tobacco over the previous six months. For the new effective return on August 1, 2025, you must take a look at the side of inflation observed by INSEE between January and June 2025. If The latter is maintained at this floor level From 0.7%, it would stand on average at 0.85% over the period.
12.4 euros of monthly interest lost on a booklet A on the ceiling
In addition, interbank rates (€ STER), which complement the Livret A rate calculation formula, are also clear. Still at 3.66% in July 2024, they decreased over the reduction of the European Central Bank (ECB) to land at 2.167%. Between January and June 2025, they should appear on average at 2.46%. Which would lead, by strictly applying the calculation formula, to a Interest rate of 1.70% ((0.85%+2.46%) / 2) for booklet A. or 0.7 points less than its current yield, and almost half of that in force until February 1, 2025, by 3%.
If the calculation formula is applied to the letter, a saver whose booklet A is filled with the ceiling of 22,950 euros would only receive 32.5 euros inmonthly interests From August 1, against 45.9 euros currently. A loss of more than 12 euros per month that the Governor of the Banque de France, François Villeroy de Galhau, and Bercy, could decide to grant a boost to the remuneration of booklet A. An unlikely option.
>> Our service – save money by testing our comparator of savings booklets
