Opening a booklet A to your child is a good way to ensure savings for his future, especially since the rate is maintained at 3% for 18 months, announced Bruno Le Maire. Here are the steps to take to open an A booklet for your minor child.
This is news that could interest many parents! The Minister of Economy and Finance, Bruno Le Maire, announced this Thursday, July 13, the maintenance of the rate of the booklet A at 3% on August 1, and this, for 18 months, precisely until February 1, 2025. Initially, this savings plan should have increased to 4% in view of the inflation of recent months, but the government opted for stability, instead of imposing such an increase on the economy. Anyway, the A booklet, which is one of the favorite investments of the French, is still today a safe and interesting savings for a child. In addition, this type of investment is exempt from taxes and social security contributions. Moreover, a booklet A can be opened to a minor child from birth. Rates, interest, ceiling and steps to open it… Here is the essential information to remember.
What is a Passbook A bank account?
Livret A is an ordinary savings accountregulated by the State and which is opened within a bank branch.
What steps to open a booklet A for your minor child?
To open a booklet A for a minor child, certain steps are necessary. The parents or legal representatives of the child must go to a bank branch and provide:
- A parent’s ID
- A child’s ID
- A copy of the family record book, which proves the relationship between the two proxies
From what age can a child have an A booklet?
A minor child can have a savings account in his name. His parents or legal representatives can open one for him without his consent. since birth.
From 12 years oldthe child can himself ask his parents, with their agreement, to open his own savings account A and deposit or withdraw money on it.
From 16 years old, a minor can open a livret A in most banks without parental consent.
What is the Livret A rate?
Since February 1, 2023, the passbook A rate has been 3%. It will be maintained until February 1, 2025. Its rate is calculated twice a year, based on inflation excluding tobacco and interbank rates for the last 6 months.
How much can a booklet A bring in?
With a rate of 3%, as is currently the case, a livret A can earn 688.50 euros in interest over one year if the account has reached its ceiling. On a smaller sum, if you put 1,000 euros on your child’s booklet A, in one year, you can get 30 euros in interest.
What is the maximum amount for a Livret A?
For individuals, the ceiling for the Livret A is 22,950 euroswhich corresponds to the maximum amount that can be in the bank account.
- Can a minor have a bank account or a savings account? Service-public.fr (July 2022). : https://www.service-public.fr/particuliers/vosdroits/F21035#:~:text=D%C3%A8s%20la%20naissance%20de%20votre,l%27%C3%A2ge%20de%2012% 20 years
- What savings product can you take out for your child? Economie.gouv.fr: https://www.economie.gouv.fr/particuliers/produit-epargne-compte-bancaire-enfant-mineur