More attractive increase than expected on August 1?


LIVRET A. The price of Livret will be revalued on August 1, 2022. The increase may be larger than expected, above 2% according to the Governor of the Bank of France, François Villeroy de Gallo.

[Mis à jour le 11 juillet 2022 à 08h11] To take inflation into account, in particular, the Livret A rate will already see its second increase after that observed on February 1, from 0.5% to 1%. This time, the increase should be much greater. Governor of the Bank of France, Francois Villeroy de Gallo Talking about a “big” re-evaluation of August 1, 2022. As a reminder, the passbook rate A, a favorite savings product of the French, is calculated by taking the average money market rates for the past six months, and the inflation rate (in this case, 5.9% in June over one year). “Overall, according to my calculations, we regress to a 2% increase. If it is 2.2%, it gives a slight boost, and if it is 2% it is a little lower.” Philip Krevel, director of Cercle de l’Epargne. So the possibility of a ledger at a rate of close to 2.5% is not so ideal, especially because of the ever-rising CPI.

The next step for the Governor of the Banque de France is to send the proposal for a reassessment to the Minister of Economy Bruno the mayor through message July 13, 2022. The Bercy tenant will then make an informed decision, and will announce the amount of the increase in brochure A that will become effective August 1. The level of inflation and interest rates for July is still pending, and will be closely scrutinized to formalize the rate hike. Time is in no hurry for François Villeroy de Gallo who is waiting to draw upon all the information necessary to make his recommendation. The revaluation of the A profile should also allow other savings accounts to benefit from the revaluation, LDDS (potentially 2.2%) and LEP (potentially 4.6%) as leaders. Remember that the ceiling of the preferred savings product for the French is set €22950s. Finally, anyone, big or small, has the possibility to open a brochure in France. The only problem, it is impossible to keep many in different banking institutions.

Livret A ceiling is set at €22950, for individuals. Remember that the interest payment may exceed this limit. As an indication, associations benefit from a much higher ceiling, €76,500. Anyone, whether a minor or an adult, can open a booklet. on the other sideMany of them cannot be kept in different facilities. To open Business District A, you must sign a written contract with your bank detailing the authorized operations (transfer, payment, withdrawal, etc.). It is forbidden to combine two regulators of the same type (Livret A and Livret Bleu) for the same person.

On the other hand, it is quite possible to combine Booklet A with a Sustainable Development Handbook (LDD) or a Youth Handbook. In addition, it is possible to combine brochures organized within the same tax family. To close a live A file, simply contact your bank, by mail or by going to an agency. You will need to select your reference, and fill in the details of your checking account, LDD, CEL…or any other account you wish to transfer money to. In the event of closing during the year, the capitalized interest is credited to the account on the day it is closed.

Since February 1, 2022, the “A” ledger rate has been revalued to an extent 1%. As a reminder, the rate is set by the Ministry of Economy and Finance on the recommendation of the Bank of France, according to a mathematical calculation taking into account the level of inflation and interest rates. Booklet A is very popular with the French, and remember that Booklet A has a huge advantage: its interests are not subject to income tax and social security contributions.

Livret A rate is increased to 1%. In other words, when you benefit from saving 1000 Euroyour pocket 10 euro interest against only 5 euro interest With the previous wage fixed in 0.5%. Find out how much your interest is, depending on your savings:

  • Save 1000 Euros: 10 euro interest (€5 net gain compared to the previous price)
  • Saving 2000 Euros: 20 euro interest (€10 net gain compared to the previous price)
  • Save 3000 Euros: 30 euro interest (€15 net gain compared to the previous price)
  • Save 4000 Euros: 40 euro interest (20€ net gain compared to the previous price)
  • Save 5000 Euros: 50 euro interest (25 euros net gain compared to the previous price)
  • Save 10,000 Euros: 100 euro interest (50 € net gain compared to the previous price)
  • Savings of €22,950 (maximum): €229.5 in interest (Net gain 114.75 euros compared to the previous price)

Living interests account occurs a 1Verse And the 16th of every month, or two weeks. Obviously, if you deposit money into your savings account between 1Verse And on the fifteenth day of the month, the account will be effective as of the sixteenth. If you deposit between the 17th and the end of the month, you will have to wait until the next month until the date the value is taken into account in the interest calculation. Do you withdraw? Interest is calculated during the current period.

The total interest is added to the principal at the end of the year. When you want to calculate your interest, you must therefore multiply your savings account balance by your rate and divide by 24 (the number of weeks in a year). But beware, this calculation has only theoretical value. To calculate your return, you must take into account all the movements made on the brochure.

Any person, major or minor, can have a living A. The banking institution you wish to subscribe to in District A must question the tax authorities to verify that you only have one. The property cannot open a brochure for you until you get this response.

Then, you must provide an identity document and proof of address for your organization less than three months away. For minors, remember to bring a copy of the family book or birth certificate. A parent’s signature will also be required.

It is useful to know that a minimum payment of 10 euros is required when opening the account, an amount that drops to 1.50 euros at the postal bank of the bank. Depending on the banking institutions, various means of payment are accepted for making this payment, check, cash or transfer. Most banks now offer to open a savings account 100% online, or in an agency if the customer so desires.

Previously booked for clients of Caisse d’Epargne, Banque Postale and Crédit Mutuel (under the name livret bleu), livret can be A Provided by all banksincluding online banking, since 2009.

Leverage A cannot be transferred from one bank to another from 1Verse January 2012. This transfer was possible from 1Verse January 2009 to December 31, 2011. From now on, it is necessary to close your savings account (a) in the old bank before opening a new one at another banking institution. If you forget the existence of an organism A and the account remains inactive for 10 yearsis automatically transferred to a file deposit box Who keeps it, she, 20 years. You have the possibility to search for free if you hold a brochure (A) that you have forgotten and, therefore, submit a request to return the remaining amount to you.

What is the role of Handbook A? The latter may look like prudential savingsIn addition to his current account. It is advisable to allocate two to three months’ salary in his “A” booklet. But there are other savings solutions out there, and some have seen their rate hiked dramatically like LEP. Subject to the means test, the LEP is a guaranteed investment reserved for persons residing in France whose resources are limited (20,296 euros of reference tax income for a single person, 31,135 euros for a couple). Its price is located in 1%, due to hyperinflation. Big boost to LEP, which should reach rate 2.2%! The LEP . roofhas been fixed in 7,700 euros, excluding capitalized interest. Its very attractive price can make it a real alternative to the Livret A account in the eyes of savers. Do you qualify for a LEP? In France, it can benefit 15 million people. Remember that Livret A, like LEP, remains a tax-exempt savings product. Interest earned by savers is not subject to income tax or Social Security contributions.

Do you have a few extra eggs and are you looking to study savings and investment products that will make your money grow? See our profile for alternatives to Handbook A!

This is one of the advantages of this structured savings product. The interests of a livret are Exempt from income tax. They are also not subject to Social Security contributions. Livret A also allows you to make transfers and withdrawals with no number limit, for free. Finally, it allows the saver to provide the capital immediately.

To close your brochure A, there are two possibilities open to you. Send a letter to your bank, or go directly to an agency. In all cases, the references to booklet A and the account number must be specified where the remaining amounts must be deposited in the booklet. Your bank must close your account within 15 business days. To be able to establish the date of receipt of the request by the bank, you must send the letter by registered mail or request a acknowledgment of receipt at the window. If Profile A is closed during the year, interest is credited over the period since the beginning of the year on the day the account was closed.

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