LEP 2022: twice as profitable as the booklet A, are you eligible?

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LEP 2022 twice as profitable as the booklet A are

LEP 2022. The new LEP rate is now known and will be effective from February 1, 2022. 15 million French people are eligible for this savings product.

[Mis à jour le 18 janvier 2022 à 10h46] The rate of THE P will more than double from February 1, 2022. That is more than twice the remuneration of the A booklet. His new rate? 2.2%. Invited on the set of TF1 on Friday January 14, the Minister of the Economy Bruno Le Maire encouraged those eligible to subscribe: “All French people who earn less than 20,000 euros per year can benefit from the popular savings account . So I would like to take advantage of this program to encourage them to subscribe to it, especially in this period of inflation. We will soon send an email to all French people who can claim it.”

“The government has decided to increase the rate of the People’s Savings Account from 1 at 2.2% allowing its beneficiaries to have a zero real return”, analyzes Philippe Crevel, Director of Cercle de l’Epargne, in a press release. Problem, all French people eligible for THE P are not necessarily aware of this right: “Of the 15 million people likely to have a LEP, only 7 million have one. With the exception of 2020, the THE P records an outflow for ten years”. Do you want to know if you are eligible for the opening of a LEP according to your income? Consult the conditions of eligibility, below.

Little known to the general public – and this, while it was created in the years 1980 -, this regulated savings product is aimed at French people whose resources are limited. The opening of a booklet is therefore conditional on the applicant’s income, which must not exceed a ceiling, depending on the number of family quotient shares. Here are the limits not to be exceeded to open a LEP in 2022:

  • 1 share: €20,296
  • 1.5 shares: €25,716
  • 2 units: €31,135
  • 2.5 units: €36,554
  • 3 units: €41,973
  • 3.5 shares: €47,392
  • 4 shares: €52,811
  • Per additional half share: €5,420.

The rate of the LEP is equal to the remunerative rate of the Livret A, increased by an increase. It was 1.25%. The LEP rate remained frozen for two years. It was however lowered to 1% in February 2020, decision resulting from the fall in the return on the Livret A passbook. Would you like to know more about the alternatives to regulated savings accounts? Consult our dedicated file without delay:

On February 1, 2022, it should however benefit from a serious boost, thanks to the rise in the rate for the Livret A. It should reach, at a minimum, 2.2%.

LEP interest is calculated fortnightly, on the 1er and the 16th of each month. The date of the value taken into account for the calculation of interest varies according to the date of deposit or withdrawal. Deposits bear interest on your passbook during the following period. In concrete terms, if you make a deposit on your LEP between 1er and on the 15th of the month, interest will be calculated on the 16th of the same month. Conversely, the calculation of interest following a withdrawal takes place over the current period. A withdrawal cancels your interest over the period, for the amount withdrawn from the passbook. The total accumulated interest is added to the capital at the end of the year.

It is possible to place up to 7,700 euros on a LEP, excluding capitalized interest. It is therefore possible to continue to capitalize interest once the ceiling has been reached. It should also be noted that no operation can have the effect of making the account debit.

Only persons whose tax residence is located in France can request the opening of a LEP. Only one LEP can be subscribed per person, within the limit of 2 booklets per tax household. Opening a popular passbook is then conditional on the level of income of the subscriber. It is also necessary to be major and of no longer be attached to the tax household of his parents. To open an LEP, your reference tax income must not exceed certain limits, which depend on the composition of your household. Here are the caps that apply this year (tax notice 2021 on 2020 revenue):

  • 1 share: €20,296
  • 1.5 shares: €25,716
  • 2 units: €31,135
  • 2.5 units: €36,554
  • 3 units: €41,973
  • 3.5 shares: €47,392
  • 4 shares: €52,811
  • Per additional half share: €5,420.

In order to facilitate access to this savings product, Bruno Le Maire had announced a simplification of the opening conditions. “The presentation to your bank of a tax notice at the opening of a LEP will no longer be compulsory“, he explained. “Same for the annual audits. It will be up to the bank to check the eligibility of the saver with the tax authorities”. March 15, 2021, your bank can directly contact the tax authorities to verify that you meet the conditions for opening and holding a LEP.

The taxation of the LEP is modeled on that of the livret A. Also, the interests produced on the LEP are totally tax-exempt. They are therefore exempt fromincome tax and social levies.



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