The popular savings booklet (LEP)an ally for those with modest or average incomes, sees its interest rate adjusted. From February 1the rate will increase to 3.5% per yearas recently announced by the Banque de France. This change comes at a time when tax-exempt passbook rates are falling rapidly and aims to protect the savings of low-income households.
An announcement that does not go unnoticed
It was during a hearing in the Senate, the January 15which François Villeroy de Galhaugovernor of the Bank of France, revealed this unprecedented decision. He stressed that the government should follow the Bank’s recommendation. This decision clearly shows a desire to maintain a certain balance for savers despite economic turbulence.
Set the new rate at 3,5 % is significant because it only results in a slight drop of half a point compared to the previous rate. According to the annual automatic formula, the rate should have fallen to 2,9 %. This choice clearly illustrates the deliberate intention of the Banque de France to support savers in the face of current challenges.
Who can benefit from LEP?
The adjustment has a simple goal: to protect the savings of low-income households. To open a LEP, you must respect certain resource ceilings which vary depending on the composition of the household. These ceilings are defined by a precise scale and revised each year to take into account inflation.
Even if your reference tax income (RFR) temporarily exceeds the fixed ceiling, you can keep your LEP as long as this income falls below the ceiling the following year. The ceilings are recalculated annually by multiplying by 1,8 the amounts defined by article 1417 of the general tax code.
What are the new limits?
At the start of each year, after publication of the finance law, these ceilings are updated to reflect economic developments. For example, for 2025, the estimated RFR is set at 22 867 € for a single person. For a couple without children, it is 35 081 €while a couple with one child must have an RFR below 41 188 €. Finally, for a couple with three children, the ceiling is set at 47 295 €.
These adjustments allow the LEP to be accessible to families who really need it while taking into account economic developments.
-LEP in figures
To date, approximately 11,7 millions of French people have an LEP. However, almost 19 millions meet the conditions to open one. This shows how LEP remains relevant as a financial tool for many in our country.
With this new announcement made by François Villeroy de Galhau – “a rate of 3.5% from February 1” – it is obvious that the Banque de France is actively seeking to balance the protection of savers and adaptation to changing economic realities.
Ultimately (no pun intended), these adjustments aim not only to provide a certain financial security to low-income households but also to further encourage those who are entitled to it to take advantage of the advantages of the LEP. As the economy continues to evolve constantly (and sometimes unpredictably), it becomes crucial for every concerned citizen to explore these options to optimize their personal savings strategy.
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