Question by Sandrine: “I do not understand how the interests are calculated on my booklet A. What is the principle?”
The interests of Livret Aand all regulated rate savings booklets (blue booklet, Ldd,, Cel,, PelLEP) are calculated by fortnight. The principle is as follows: each payment has a value date (In other words of taking into account) equal to the first day of the next fortnight, and each withdrawal has an equal value date on the last day of the previous fortnight.
Concretely, if you make a payment between the 1st and the 15th of the month, the value date will be 16. And if you make it between the 16th and the end of the month, the value date will be the 1st of the following month. For all withdrawals Whether you are between 1st and 15, the value date will be set on the last day of the previous month. And if your withdrawal is made between the 16th and the end of the month, the value date will be 15. Suddenly, it is better to make a payment at the end of the fortnight because it is taken into account for the Interest calculation Almost immediately.
The calculation carried out by the banks
HAS each operation – withdrawal or payment -, the bank calculates the Creditor interests Or debtor interests additional this operation until the end of the year. In your case, the Livret A has an annual remuneration rate of 1.25 %. If, for example, you opened your book A on February 20 with a payment of 1,000 euros, the value date will be set for March 1. The number of fortnights remaining in the year will therefore be equal to 20 (the year 24 fortnight). The bank then calculates interest as follows: 1,000 x 1.25 % x 20/24 = 10.41 euros.
Let us admit that you made a payment of 100 euros on August 25. The value date is set for September 1 and it is then necessary to add 8 fifteen interests (two fortnight for each month remaining in the year: September, October, November, December). The bank makes the calculation Next: 100 x 1.25 % x 8/24 = 0.42. The account of interest then goes from 29 to 10.83 euros.
Finally, imagine a withdrawal of 100 euros on November 29. The value date is set for November 15 and there are 3 fortnights to run until the end of the year. This sum should have reported the following amount: 100 x 1.25 % x 3/24 = 0.16. Which will therefore not be the case. By removing this sum, the total of your interests then increases to 10.67 euros. It was not until December 31 that your interests are capitalized. The account is credited with 10.67 euros, in the first days of the new year. They are added to the capital placed and produced interest from January 1.
Also know that rate changes Always take place on the first day of fifteen. The bank calculates debtor interest representing the current balance paid at the old rate on the number of fortnight remaining in the year, then, Creditor interests of the same balance, at the new rate, over the same period. In addition, in case of closing of the accountdebtor interests are calculated, according to the same method, between the value date of the fence and the end of the year. For booklet A and regulated savings booklets, the remuneration rate is updated on February 1 and/or August 1. The announcement is made fifteen days before.