A gross annual return of between 3.50% and 4% over six months, guaranteed even if the European Central Bank lowers its key rates in June? This is possible by selecting a good term account. Unlike savings accounts, whose interest rate is likely to vary at any time, that of term accounts is fixed once and for all when subscribing. Savers investing today with their bank or an online savings player therefore know with certainty their remuneration over the chosen period, between one month and five years. “It is still a good time to subscribe to a term account but you must not delay because the banks are anticipating the drop in key rates by gradually reducing their offers,” notes Philippe Crevel, the general director of the Cercle de l’Epargne.
Short or long duration?
It remains to choose your investment horizon carefully, because the money invested is blocked. It remains possible to exit before maturity, but this involves a penalty on the yield. Currently, the most advantageous products are those blocked for short periods, that is to say less than one year. Network banks offer attractive rates to their customers but do not put them on display, so you should check with your advisor.
Investors with six months ahead of them obtain 3.75% annualized at Hello Bank (50,000 euros minimum) and 3.64% at Ramify (100,000 euros). Over one year, the offers stand at 3.3% at BNP Paribas (50,000 euros) and Placement-direct.fr (10,000 euros), 3.25% at BoursoBank (5,000 euros), 3.2% at Distingo Bank (1,000 euros) or 3.1% at Crédit Agricole Ile-de-France.
Why opt for a twelve-month term account when those over six months are more profitable? Because in a half year, the saver who does not need to recover his capital will have to subscribe to a new product at a rate which will be much lower since the European Central Bank will then have made several rate cuts. Same reasoning for twelve-month term accounts. “It is likely that in a year, banks will offer rates around 2.5% to 2.6% for their term accounts over the following twelve months,” indicates Philippe Crevel.
Another possible strategy: distribute your savings across term accounts of different durations, for example three, six and twelve months. This makes it possible to optimize returns, while ensuring regular access to cash. Interest is subject to a single flat-rate deduction of 30%.