Filled to overflowing: at the end of 2022, 5.3 million Livret A accounts exceeded the regulatory ceiling of 22,950 euros thanks to the accumulation of interest, according to the Banque de France. Their owners are quite right. With the exception of the popular savings account reserved for low-income households, the A account is today the best-paying risk-free investment on the market. It earns 3% exempt from taxes and social security contributions, just like the sustainable and solidarity development booklet (LDDS), which is capped at 12,000 euros. The right strategy therefore consists of placing your precautionary savings as a priority on these two products. Especially since their real yield, that is to say once inflation has been deducted, will become positive again next year, with the price increase expected to fall to 2.6% in 2024.
Bonuses in the “super booklets”
Once these ceilings have been reached, other avenues must be explored including tax-advantaged savings accounts, term accounts, monetary funds, or even the euro life insurance fund. These supports have the advantage of seeing their rates recover, while that of the Livret A is frozen at 3% until February 1, 2025.
It is to online banks and specialized establishments that we must turn to find the best offers. The savings accounts of BoursoBank (formerly Boursorama Banque), Cashbee, Distingo Bank, Fortuneo, Placement-direct.fr and Renault Bank display remuneration of between 2% and 3% gross, or 1.40% to 2.10% net after the single flat rate deduction of 30%. “Competition on bank passbooks has intensified in recent weeks, notes Philippe Crevel, director of the Savings Circle. The best ones now earn two points more than bank network passbooks, whose average rate is 0. 74% at the end of August according to the Banque de France.”
These booklets have another advantage: as establishments seek to attract new customers, they offer welcome offers bringing the remuneration to 4% or more for a few months. This is the case of the online life insurance specialist Placement-direct.fr, which has just launched a super booklet at 5.25% over three months then 2.35%. That’s a gain of 3.07% gross in the first year. “With this bonus, we want to make savers understand that now is no longer the time to let their money sit in their current account,” says Gilles Belloir, its general manager.
The return of term accounts and money market funds
Savers with visibility over their investment horizon can also turn to term accounts. Unlike savings accounts, the capital placed in these products is blocked over a specific horizon, generally between one and two years. Distingo Bank thus offers 3% gross over ten months or 3.10% over one year, while BoursoBank displays 3% over one year and 3.50% over eighteen months. These scales are fixed once and for all at subscription but they are reduced in the event of early exit. “We recommend taking out several term accounts with the same maturity,” says Sarah Zamoun, responsible for the activity at Distingo Bank. “It will thus be possible to unblock one in the event of an emergency, while continuing to benefit from the full rate on others.”
Monetary funds, accessible in life insurance and in PEA, are also making a comeback in the precautionary savings landscape, after lean years marked by negative performance. These vehicles will continue to benefit in the coming months from the high level of key rates from the European Central Bank. “They should show a performance of between 3% and 4% in 2024,” indicates Philippe Crevel.
Upcoming catch-up for euro funds
Finally, there remains the life insurance fund in euros, with guaranteed capital, whose return could reach 2.5% gross on average this year. “Insurers should make efforts to boost this envelope next year in order to remain competitive compared to other secure investments,” points out Marc Tempelman, co-founder of Cashbee. This will notably take the form of a bonus granted to investors allocating at least 50% of their contract to units of account. A boon for savers with a dynamic investment profile.
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