LEP 2023: it climbs to 6.1%! When and for whom?

LEP 2023 it climbs to 61 When and for whom

THE P. Twice as profitable as the livret A, the popular savings account will see its rate drop from 4.6% to 6.1% from February 1, 2023.

[Mis à jour le 24 janvier 2023 à 08h09] An investment whose interest rate remains attractive, the popular savings account (LEP) continues to grow. Its rate of remuneration, twice as profitable as that of the booklet A, will go from 4.6% at 6.1% starting the February 1, 2023. An increase confirmed by the Minister of the Economy Bruno Le Maire in January. To qualify for LEP, your taxable income must not exceed €20,297 for a single person. Other limits are set according to the composition of the tax household. Rather little known, it remains little used by its potential beneficiaries despite its attractive remuneration. The payment limit is set at €7,700on the other hand, the interest paid by the bank is not taken into account in the calculation and may exceed the ceiling in force.

The popular savings account rate has been increasing quite sharply since February 1, 2022 due to galloping inflation. Fixed at 4.6% since August 1, 2022a new revaluation is expected for the February 1, 2023. This time, the LEP rate will reach 6.1% as announced by the Minister of Economy Bruno the Mayorduring January.

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. No operation can have the effect of making the account debit. The minimum down payment on LEP is set at 30 euros. Also, the reference tax income must not exceed certain limits, which are fixed according to the composition of your household. Here are the limits that apply this year:

  • 1 slice: €20,297
  • 1.5 slices: €25,717
  • 2 slices: €31,137
  • 2.5 servings: €36,557
  • 3 slices: €41,977
  • 3.5 servings: €47,397
  • 4 slices: €52,817
  • Per additional half share: €5,420

When the investor’s income exceed these limits over the course of a year, he can keep his THE P if his income for the following year goes back under the eligibility limit.

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 two 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.

In order to facilitate access to this savings product, Bruno Le Maire had announced a simplification of the opening conditions. “The presentation to his bank of a tax notice at the opening of a LEP will no longer be mandatory“, 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”. Since March 15, 2021a bank can directly take care of contacting the tax authorities to verify that you meet the conditions for opening and holding a LEP.

The role of A booklet may look like a precautionary savings. It is advisable to place two to three months’ salary on this savings product. Revalued up to 3% to 1er February 2023the A booklet benefits from a higher ceiling than the LEP, €22,950 for an individual. Only one booklet A per person is authorized.

However, the LEP remains more than interesting for low incomes. Its rate is more than twice as profitable as that of the Livret A, with 6.1% remuneration since February 1, 2023. “It is a product with a capital guarantee and total liquidity which is extremely attractive. There is no equivalent in terms of remuneration on short-term savings” , to analyse Philippe CrevelDirector of the Cercle de l’Epargne.

The taxation of THE P is modeled on that of A booklet. This savings product is totally tax-exempt. In other words, the THE P is not subject toincome taxto the social contributions, whose generalized social contribution (CSG) and the contribution to the repayment of the social debt (CRDS), nor to the flat tax at 30% on capital income. Thus, the interest received is not to be mentioned in the annual tax return.

It is possible to request at any time and free of charge the closure of a LEP according to the terms set out in the contract. single letter, registered letter with acknowledgment of receipt or form are conceivable. the THE P remains open as long as the eligibility conditions related to income tax are met. For this, it is necessary to send an annual tax notice to the bank, unless it decides or proposes to approach the tax authorities directly to check herself that detention conditions of this savings product. are well respected.

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