The end of the love affair between the French and Livret A? Certainly, with more than 440 billion euros in assets, this product remains the benchmark in terms of precautionary savings. But its 57 million holders are not mistaken: their savings can be better paid elsewhere. In September 2025, they withdrew 1.95 billion euros. Logical, given the continued erosion of Livret A remuneration, going from 3% to 2.4% on February 1, 2025 then to 1.7% six months later. “There reduction in the remuneration rate to 1.7%which took place on August 1, clearly led households to redirect their savings towards other investments, including life insurance.observes the economist and director of the Circle of Savings, Philippe Crevel.
And the trend of withdrawals from Livret A accounts could accelerate in the coming months, with a further expected decline in its interest rate. Because inflation remains at a low of 1% over the past month, according to statistics published by INSEE this Friday, October 31. An increase in prices (excluding tobacco) which accounts for half of the calculation formula for Livret A. After 0.9% in July, 0.8% in August, 1.1% in September, the average for the current semester stands at 0.95%.
Less than 30 euros of monthly interest for a Livret A at the ceiling
If inflation remains low at the end of the year, the average used to calculate the Livret A rate will therefore land below 1%. As for the interbank rates (€STR, at which banks exchange money), which count for the other half of the calculation formula, they should be limited to 1.93% on average between July and December 2025, the reference period analyzed to determine the Livret A rate on February 1.
Result: the Livret A rate should fall again, from 1.7% to 1.5% or even 1.4%. That is to say a division by two of its return in 12 months. With a booklet filled to the ceiling of 22,950 euros, a saver would then only receive 28.7 euros in monthly interest, compared to 57.4 euros a year earlier. A very pale remuneration, compared to that offered by the euro funds of life insurance contracts, expected at around 2.65%-2.70% gross, or around 2.2% net of social security contributions.
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