Livret A interest rate: 1.7% now, a rise may come in February

What Livret A is. It is a savings account in France that any bank can offer. Money is available at any time, the deposit is covered by a state guarantee, and the interest is exempt from income tax and social charges. The money on these accounts helps fund social housing, small businesses and the ecological transition. Le Figaro says the account has almost 58 million holders.

What the rate is now. Since August 1, 2026 it is 1.7% a year, up from 1.5% between February 1 and July 31. The Banque de France calculates the rate with a legal formula based on inflation and the short-term interbank rate, the €STR, and proposes the result to the economy minister. For August the inputs were average inflation excluding tobacco of 1.52% and an average €STR of 1.95% over January to June 2026. The formula gave 1.7%. In exceptional circumstances the formula can be set aside.

What could change in February. The rate is reviewed every six months. Le Figaro reports that early estimates put it at 2.50% to 2.80% depending on the calculation, and links this to rising inflation. None of our sources contains a decision for February. The Le Figaro article is behind a paywall and we saw only its opening, so we do not know how the estimates were built.

What about the ceiling. It is 22,950 euros now. Prime Minister Sébastien Lecornu told lawmakers last week that the ceiling will change at the same time as the rate update, which he said will also rise. He named a range of 25,000 to 30,000 euros. On November 10 the Banque de France governor, Emmanuel Moulin, said on BFM Business that he favors a "light" increase. In his words, French people do not need to be pushed to save more: their savings rate relative to income is already very high. He added that the aim is rather longer-term savings, such as pensions.

How much is in the accounts. According to Banque de France figures cited by Capital, 83% of French people hold a Livret A, with 7,500 euros on average. That is far from today's ceiling, and Capital links the governor's caution to this.

Keep in mind: the February rate and ceiling are not confirmed. The figures above are projections and statements.

Fatos confirmados

• Since August 1, 2026 the Livret A rate is 1.7% a year; between February 1 and July 31, 2026 it was 1.5%.^[1][3]
• The Banque de France calculates the rate every six months and proposes it to the economy minister, who sets it.^[1][2][3]
• The formula is legal and based on inflation and short-term market rates (€STR). For August 2026 average inflation excluding tobacco was 1.52% and the average €STR 1.95% (January to June 2026); the formula result was 1.7%.^[2]
• The formula can be set aside in exceptional circumstances.^[3]
• Money in a Livret A is available at any time, the deposit is guaranteed by the state, and interest is exempt from income tax and social charges; any bank can offer the account.^[1][3]
• Money from Livret A accounts helps finance social housing, small businesses and the ecological transition.^[1]
• According to Le Figaro, early projections put the February rate at 2.50% to 2.80% depending on the estimate; the account has almost 58 million holders.^[5]
• The government announced in early November that the Livret A ceiling will be raised in February.^[4][5]
• The Livret A ceiling is 22,950 euros now; Prime Minister Sébastien Lecornu named a range of 25,000 to 30,000 euros and said the ceiling will change at the same time as the rate update, which he said will also rise.^[4]
• On November 10 the Banque de France governor, Emmanuel Moulin, said on BFM Business that he favors a "light" increase of the ceiling and that French people do not need to be encouraged to save more because their savings rate is already very high.^[4]
• According to Banque de France figures cited by Capital, 83% of French people hold a Livret A, with 7,500 euros on average.^[4]

Implicações

• ConfirmadoThe Livret A rate is 1.7% now, set by the Banque de France formula and the minister's decision.
• ConfirmadoThe government intends to raise the account's ceiling in February; the size of the ceiling is not final.
• Nossa leituraIf inflation or the €STR has risen, the formula result will rise too, so Le Figaro's projections above today's rate look logical. This is our inference, there is no decision for February.
• Nossa leituraA modest ceiling increase, as the governor wants, is unlikely to change much for most holders, who have 7,500 euros on average. This is our inference.

Ainda não se sabe

• Which rate the Banque de France will propose and the minister will set for February
• Which ceiling the government will choose and from what date
• Whether the formula will be applied without exceptions
• How Le Figaro got the 2.50% to 2.80% estimates: the article is paywalled and we saw only its opening

Quem é afetado

France, Euro area. People who follow rates in France and the euro area, and Livret A holders

Fontes

1. Ministère de l'Économie et des Finances: Épargne réglementée : le Livret A passe à 1,7 % et le LEP se maintient à 2,5 % à compter du 1er août 2026 15 de julho de 2026 · oficial
2. Banque de France: Le Gouverneur de la Banque de France propose de relever le taux du Livret A à 1,7 % et de maintenir celui du LEP à 2,5 % 15 de julho de 2026 · oficial
3. Service-Public.fr: Livret A and LEP: what change in remuneration rates as of August 1, 2026? 15 de julho de 2026 · oficial
4. Capital.fr: Plafond du Livret A relevé ? Le gouverneur de la Banque de France plaide pour une hausse «légère» 10 de novembro de 2026 · mídia
5. Le Figaro: Vers une importante hausse du taux du livret A en février, porté par l'inflation ? 10 de novembro de 2026 · mídia