It’s time to do the accounts. The drop in the rate of booklet A on August 1 – which increased from 2.4% to 1.7% – was not a surprise given the slowdown in inflation. This does not prevent being caught, with this unanswered question: should I switch my savings to another placement a priori More remunerative, such as life insurance, or civil real estate investment companies (SCPI), for example? To understand what you have to win, or lose, we have calculated what these three investments report to you on an amount spared of 1,000 euros.
Let’s start with the easiest, booklet A. With its rate at 1.7%, the booklet A theoretically reports 17 euros over a year, with a capital of 1,000 euros. However, as its rate was still 3% in January, and 2.4% between February 1 and August 1, over the whole year, 1,000 euros left on a booklet A actually reports a little more: 21.58 euros precisely. This may seem little, of course, but this without any risk of capital loss – the booklet A is guaranteed at 100% – or taxation, because interest is completely exempt.
Life insurance could display an average return of 2.5% on euros funds
Is it possible to find better under the same conditions? When the rate of the booklet has tumbled, looks – and savings flows – naturally go to life insurance invested in euros. This savings product ensures you, as on your favorite booklet, to always recover at a minimum all of the funds paid. No additional risk, and with a higher performance promise: for the current year, the first estimates provide an average rate of 2.5% distributed by insurers.
Out of 1,000 euros paid, it is therefore possible to hope for a gain of 25 euros over a year. However, life insurance is not a completely tax -free savings product. Each year, the insurer notably retains the social security contributions of 17.2% on interest, which gives an average net rate of 2.07%, or 20.7 euros of gains collected on 1,000 euros. As a bonus, if your contract is less than 8 years old, you will also have to pay 12.8% for income tax (the total giving the 30% of the single lump sum (PFU) or flat tax). On the other hand, beyond eight years, you benefit from an annual reduction of 4,600 euros (9,200 euros for a couple) on your earnings during withdrawals.
Of course, this is for life insurance for an average performance. Some contracts were able to distribute up to more than 4% on euros funds in 2024, for example. This can make it possible to beat the booklet A widely, provided you choose the right insurer. There remains one last solution, more risky, but also more lucrative: investing in SCPI shares. An option favored by part of savers, including prudent, because the risk level remains limited (SCPIs are generally noted 3 or 4 out of 7 on the risk scale), but yields can be much more substantial.
With SCPIs, a higher performance promise for a higher risk
In 2024, the average distribution rate (equivalent of yield) of SCPIs was 4.72%, and it is currently on the same time passing through the first half of 2025. As in life insurance, it is an average, and it is possible to aim, with the best players on the market, up to more than 7% of TD. Here, for 1,000 euros – the purchase of around 5 shares of SCPI at an average price of 200 euros – the dividends would therefore amount to 47.2 euros over one year. However, beware, unlike a liquid product such as booklet A and even life insurance, an investment time of 8 to 10 years is recommended.
Regarding taxation, it is the countries in which the SCPIs invest that will be decisive. For a 100% French SCPI, dividends are subject to the progressive scale of income tax, as well as social security contributions at the rate of 17.2%, which are accumulated. Thus, with a marginal tax tranche at 30%, for example, total taxation amounts to 47.2%, a net return which goes in this case from 4.72%… to 2.49%. The pocketed net dividends are then limited to 24.9 euros. Note, however, that betting on SCPIs which invest in Europe (in countries that have signed a tax agreement with France) makes it possible to escape 17.2% of social security contributions.
After taxation, we see that between 21.58 euros, 25 euros, and 24.90 euros, which these three investments can be theoretically bringing in you is so far away, for the same starting set of 1,000 euros. However, provided you choose your life insurance contract or your SCPI basket, it is possible to beat the booklet A widely, if the performance is there. Faced with these two alternatives, the great advantage of the booklet remains that you always know, and at any time, what it brings you back!
