New interest rates for millions of French savings accounts

French authorities have confirmed that some – but not all – government regulated and tax-free savings accounts will see interest rates increase on August 1, 2026.

Rates for the 'Livret A' will rise from 1.5% to 1.7%, said Finance Minister Roland Lescure yesterday, confirming media reports.

This rate “remains above the average inflation level observed over the past six months… [and] will therefore continue to protect savers' purchasing power while maintaining a solid contribution to the economy,” said the Banque de France in a statement.

The account’s interest rate dropped from a five-year high of 3%, seen between February 2023 and February 2025, to 2.4% and then again to 1.7% in August 2025 and finally 1.5% in February 2026.

The new rates will mean that someone with the maximum €22,950 in the account will earn an extra €45.90 across a 12-month period (providing the rate stays the same for the next 12 months).

Interest rates on the 'Livret de développement durable et solidaire' (LDDS), an account used to finance France’s ecological transition, will also see its interest rate increase from 1.5% to 1.7% on August 1.

However, the 'Livret d’Épargne Populaire' (LEP, a low-income savings account) will remain fixed at 2.5%, the rate fixed earlier in the year.

The Banque de France says that according to calculations typically used for the interest rate, the level should be 2.2%, however it has remained at this heightened level as a purchasing power boost.

Interest rates for the accounts are typically updated twice per year in February and August based on inflation, although in exceptional circumstances the government can make their own changes.

Popular accounts

As a reminder, these savings accounts form the backbone of France’s savings industry. All three accounts are government regulated and tax-free, although they are subject to certain limits. 

The Livret A is the most popular, with around 58 million such accounts open. Read our article here to see how to open an account.

Savings are protected, and used by the Caisse des dépôts et consignations to build social housing, nuclear power plants, and also by the government to offer business loans. 

The account allows anyone to transfer money to a linked current account at any moment, with transfers not subject to any government tax.

Interest is calculated twice per month, based on the balance in the account. 

Livret A accounts have a maximum deposit limit of €22,950. Interest can be left in the account but no new funds can be deposited and interest is not payable on amounts above €22,950. 

Around 12 million LEP accounts exist, up from 7 million in 2020, the Banque de France reported yesterday. 

Individuals can hold both a Livret A and LEP account. 

The maximum amount that can be deposited in an LEP is based on the number of ‘parts’ in the associated household.