Are you looking for a safe, liquid and well paying investment? If you think of the passbooks offered by your bank, go your way. These products were only used on average 0.09% in September 2021, according to the latest data published by the Banque de France. Ten years earlier, in October 2011, the average interest rate offered by these investments reached 1.97%, again according to the Banque de France, before breaking the floor of 1% in October 2014 (0.97%) , that of 0.50% in May 2016 (0.48%) and finally reach a new low of 0.09% in August 2021. Certainly, notable differences exist between the offers of banking institutions, but the observation is clear: bank passbooks hardly bring in anything any more. Especially since, unlike the Livret A – on which interest is totally tax-exempt – these savings products are subject to a single flat-rate deduction (PFU, “flat tax”) of 30% or, optionally, to tax. on income and social security contributions (17.2%).
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Worse still, taking into account the rise in consumer prices excluding tobacco in 2021, of 2.6% over one year in October, according to INSEE, bank accounts make you lose money, a lot of money. ! And if with such inflation, savers could legitimately hope for a boost in the remuneration paid to them, the banks are showing little inclination to raise rates. It is even the opposite which is to be feared next year, according to the majority of establishments solicited by Capital …
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An annual rate of 0.05% in most banks …
To ensure microscopic rates on bank books, here is the proof in figures. Among the rates recorded by Capital from banks, BNP Paribas won the prize for the most stingy establishment with its customers, with 0.02% paid on its passbook account (CSL), a remuneration set to rise to 0.01 % as of January 1, 2022. Hang in there: for 10,000 euros placed on this product next year, you will receive 1 euro all round, even before the “flat tax” of 30% or income tax and social security contributions (17.2%), i.e. a net gain of 0.70 euro for a household located in a marginal tax bracket of 30% or more. Its online bank, Hello bank !, does little better with a remuneration of 0.05% up to 49,999 euros then 0.10% beyond on its scalable savings account. Rates further planed on January 1, 2022, respectively to 0.02% and 0.05%.
If these rates seem ridiculously low to you, know that they have become the norm at most banks. Judge rather: 0.05% for the Livret + de Fortuneo as on the passbook accounts of Société Générale and its online bank, Boursorama Banque. Identical return for the bank’s Savings Book Plus with the red and black logo, with a bonus of 0.10%, or 0.15% in total, from the 7th month. Same remuneration flush with the daisies (0.05%) on the Credit Agricole passbook account, and a little better (0.10% to 0.40%) on the member passbook of the various Green Bank funds. For its online banking, it is again necessary to be satisfied with 0.05% on the BforBank savings account. A base rate which also concerns the account on passbook of the Postal Bank, where it even drops to 0.025% from 10,000 to 50,000 euros to fall to 0.01% beyond. Finally, the BPCE group (Banque Populaire, Caisse d’épargne) is barely more generous, with for example 0.10% on the Livret territorial de la Bred. Within the group, it is the Livret Agir du Crédit coopératif, with 0.60% then 0.50% above 15,300 euros, which is the most profitable, even if it involves sharing 50% of his interests. No need to hope for a higher return at Crédit Mutuel-CIC, with a savings account on passbook remunerated at 0.10%. Only new Crédit Mutuel or CIC customers – for less than 6 months – can benefit from a boosted rate of 0.75%, but for 3 months and up to 50,000 euros, the face yield then falling to 0.10 %.
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You will understand, the rates of most banks are at the bottom. A floor that some of them intend to lower further, current inflation not constituting for them a reason for raising rates. Only the online bank Fortuneo explains to Capital “to follow closely the evolution of inflation, rates as well as the speeches of the main central bankers. We will revise our position if necessary in 2022 ”. A market position all in all quite logical, these financial institutions already offering rates much lower than that of the Livret A, at 0.5%, even though the latter will probably be raised on February 1. The tax accounts therefore clearly do not appear to be offered by the banks to compete with the preferred savings account of the French, but only to generate (very) meager remuneration for their customers. A second current account, in short.
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Some better paid opportunities than the Livret A
Under these conditions, should we simply abandon the bank books? Not necessarily, since some establishments still offer satisfactory conditions. This is particularly the case of PSA Banque and its Distingo passbook, which offers a gross annual yield of 0.60%, a rate which will drop to 0.50% from January 16, 2022. Note that if this is not currently not the case, PSA Banque, questioned by Capital, recalls that it offers “regular promotional rates intended for future savers or its customers, who are of course kept systematically informed of the evolution of its offers”. It is indeed not uncommon to be able to benefit from a rate boosted to 2%, for two months generally, on this savings product which is a benchmark in the landscape of tax savings accounts.
Another way to do better than the market, take out an AXA Bank passbook, paid 2% the first two months and up to 30,000 euros, the remuneration collapsing to 0.05% beyond. But the passbook that crushes the competition is indeed that of the Cashbee savings solution, which delivers a return of 2% over three months within the limit of 75,000 euros, then 0.60% once this ceiling or the deadline. achieved, i.e. an average compensation of 0.95% the first year. A rate also available on the Lydia application to which Cashbee joined forces in June 2021. For its part, My Money Bank, partner of Cashbee, offers 2% for two months then 0.60% after this period, for a return annual rate of 0.83%.
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