The Livret d'épargne populaire interest rate has dropped by one percentage point, from 6% to 5%

Bruno Le Maire announced to *La Voix du Nord* the long-awaited adjustment to the interest rate on the Livret d’épargne populaire: 

"The interest rate on the Livret d’épargne populaire (LEP) 'remains at 5%,' he announced. 'While inflation is falling rapidly, the calculation formula should cause the LEP rate to drop to 4.4% on February 1.'" He also noted that more than 10 million French people benefit from this program (10.7 million LEP accounts, compared to 6.9 million two years ago). 
 

As of August 1, 2023, the LEP rate is 6% per year. It was 6.1% between January and July 2023, 4.6% between August 2022 and January 2023, and 2.2% between February and August 2022. It has therefore now been reduced to 5%.

The Livret d’épargne populaire (LEP) was created to help low-income individuals protect their savings from rising prices. Since last July, it has allowed people to save up to 10,000 euros and is exempt from social security contributions and income tax.
 

“With inflation set to fall below 3%, you’ll have a savings account for low-income earners that pays more than two percentage points above inflation, which stands at 3.7%,” Bruno Le Maire explains, arguing that “this is an exceptional rate in the savings market” and that “no other European country offers the working class such protection for their savings.” 

As for the Livret A interest rate, it will remain at 3% through 2025, as announced in early August. “Here, too, this brings the return above the rate of inflation,” the minister added.