6% of remuneration for investing your savings without risk: several establishments, mainly neobanks, are now promoting boosted bank books. Cashbee, for example, currently offers a rate of 6% gross annual rate for two monthsbefore returning to standard rate of 1.90% gross. These offers, reserved for new customers, allow establishments to stand out in an increasingly competitive savings market.
However, the promotional rate is only one of the criteria to examine before subscribing. Its duration of application, the conditions allowing you to benefit from the bonus, the deposit ceiling, taxation or even the rate served once the offer ends directly influence the final return. “The first instinct is to look at the duration for which the promotional rate applies”underlines Wilfried Behejohn, wealth management advisor.
A promotional rate that deserves to be dissected
The main point of vigilance concerns the duration of the offer and the conditions allowing you to benefit from the bonus. At Cashbee, the rate of 6% gross annual is granted during two months to new customers. It is composed of a base rate of 1.90%supplemented by two bonuses. To keep this benefit in full, the funds must be kept in the booklet until December 31, 2026. Failing this, sums withdrawn before this deadline are remunerated at the sole base rate of 1.90% gross.
Another element not to be overlooked: the 6% displayed corresponds to a gross annual rate. Part of the interest is subject to single flat-rate deduction (PFU) or in other words to the Flat tax of 30%while the bonus of 0.80% paid directly by Cashbee is not subject to tax and social security contributions. The net return therefore depends on the exact composition of the remuneration, the applicable taxation and compliance with the conditions provided for in the offer. Before subscribing, it is therefore preferable to compare the return over a full year rather than stopping at just the promotional rate put forward.
How to choose the right boosted bank account?
For Wilfried Behejohn, the promotional rate should never be the only criterion for comparison. “You always have to read the fine lines”insists the advisor. Before subscribing, he recommends checking the duration of the bonusTHE rate applied after the promotionTHE payment conditionsTHE deposit limit as well as any constraints on conservation of funds. It is all of these criteria that make it possible to assess the real interest of an offer.
The advisor also recalls that these promotions respond above all to a commercial strategy. “These offers are above all marketing tools intended to attract new customers”explains Wilfried Behejohn, wealth management advisor. According to him, this model is particularly used by neobanks, including the economic model differs from that of traditional banks. Many also rely on a partner bank to distribute their savings products. At Cashbee, the booklet is offered in partnership with CFCAL, a subsidiary of Crédit Mutuel Arkéa.
In practice, a good boosted booklet is therefore not necessarily the one which displays the highest rate, but the one which offers the best compromise between duration of the promotion, return after taxation and flexibility of use.
For which savers can these offers be interesting?
According to Wilfried Behejohn, everything depends on the objective pursued. A boosted booklet may be suitable for a saver with a sum that he plans to use in the short term, for example while waiting for a real estate purchase or before making a investment in the stock market. The objective is to put these savings to work during a transition period, without immobilizing them permanently. On the other hand, for savings intended to remain invested for several years, regulated savings accounts or other investments may prove more suitable depending on the saver’s project.
On the other hand, for a precautionary savings intended to remain placed for several years, regulated booklets such as Booklet ATHE LDDS or the THE P retain important assets, notably a tax exemption and simpler operating rules. Finally, for a longer investment horizon, the advisor considers that it may be relevant to study other solutions, such as fund in euros life insurance contracts, depending on the profile of the saver.
