To maximize the interest on your savings accounts, it is not enough to pay money into them from time to time, you also have to do it at the right time.
At the end of the year, most French people are often impatient and curious to discover the interest earned on their savings account over the months. Generally, this money represents additional income without direct effort. For some, it is a way to secure their future or finance small projects without touching their capital. Before that, to hope to receive their earnings, they must regularly deposit money, and at the right time. Indeed, you may have experienced this in the past, but there is no point in funding your savings account at the last minute, in November or December. You will not receive the maximum interest and you may even lose yield.
To avoid this loss of money, it is important to know the fortnightly rule that regulates the majority of savings accounts in France. The rates of the savings accounts are calculated twice a month, every fortnight. Concretely, deposits made between the 1st and the 15th of the month begin to generate interest from the 16th of the following month. On the other hand, deposits made between the 16th and the last day of the month will only begin to generate interest from the 1st of the following month.
This rule encourages savers to plan their payments carefully to optimize the return on their savings, because any deposit made after a fortnight will only earn interest from the following fortnight. The ideal, therefore, to obtain the most interest is to deposit your funds the day before the first day of the new fortnight, either on the 14th or 15th or the 30th or 31st of each month. Furthermore, if you reach the ceiling of your account before December 15, you are sure to obtain the maximum interest at the end of the year. A detail that is not insignificant!