By Benjamin Roure L'Hermitte
In France in 2026, the savings account that pays the most is the LEP, at 2.5% net, reserved for modest incomes. Next come the Livret A, the LDDS and the livret jeune, at 1.7% tax-free. Bank savings accounts and term deposits can advertise more, but their interest is taxed at 31.4%: they need 2.48% gross to match 1.7% net. And the Livret A ceiling, €22,950 today, is set to rise to between €25,000 and €30,000 in February 2027.
- LEP: 2.5% net up to €10,000, income-tested. It is the best risk-free savings account in France in 2026.
- Livret A and LDDS: 1.7% net, €22,950 and €12,000, or €34,950 tax-free per person.
- Bank savings accounts and term deposits: taxed at 31.4%, they need 2.48% gross to beat the Livret A.
- Guarantee: €100,000 per bank for deposits, plus another €100,000 for the Livret A, LDDS and LEP.
Savings passbooks (livrets) are the foundation of saving in France: the money stays available, the capital cannot fall, and several of them are tax-free. But they are not equal: their rates, ceilings, tax and eligibility rules change everything. With inflation at 3.4% over a year in October 2026 according to Insee, none fully protects purchasing power, which makes the choice between them all the more important.
This guide compares all of France's risk-free savings accounts in 2026, explains which one pays the most net, reviews the Livret A and its ceiling, the livret jeune, bank and boosted accounts and term deposits, then answers the question that always follows: where to put your money once the Livret A is full. The rates quoted are those published by the Banque de France and service-public.fr (in French).
TL;DRThe LEP pays 2.5% net up to €10,000, income-tested. The Livret A (€22,950), the LDDS (€12,000) and the livret jeune (€1,600, ages 12 to 25) pay 1.7% net. The PEL pays 2% gross, 1.40% net, and the CEL 1.25% gross. Bank savings accounts and term deposits are taxed at 31.4%: they need 2.48% gross to match the Livret A. The Livret A ceiling is set to rise to between €25,000 and €30,000 in February 2027.
French savings accounts compared in 2026
| Account | Rate | Net of tax | Ceiling | For whom |
|---|---|---|---|---|
| LEP | 2.5% | 2.5% | €10,000 | Modest incomes |
| Livret A | 1.7% | 1.7% | €22,950 | Everyone |
| LDDS | 1.7% | 1.7% | €12,000 | Adults |
| Livret jeune | 1.7% minimum | 1.7% minimum | €1,600 | Ages 12 to 25 |
| PEL opened in 2026 | 2%, fixed for life | 1.40% | €61,200 | Everyone, money locked |
| CEL | 1.25% | 0.88% | €15,300 | Everyone |
| Bank savings account | Set by the bank | Rate × 0.686 | None | Everyone |
| Term deposit | Set by the bank at opening | Rate × 0.686 | None | Everyone, money locked |
The first four are regulated passbooks: their rate is set by the French state, their interest is exempt from income tax and social charges, and the money is available at any time. The PEL and the CEL are home savings products, taxed at 30%. Bank savings accounts and term deposits have a free rate, set by each bank, and have been taxed at 31.4% since social charges on investment income rose to 18.6% on 1 January 2026.
Which savings account pays the most?
Net, the LEP comes first at 2.5%, but only households under an income ceiling can open one. For everyone else, the Livret A and the LDDS, at 1.7% tax-free, are the best risk-free accounts available at any time. The livret jeune does at least as well, and some banks pay more on it, but it is reserved for ages 12 to 25 and capped at €1,600.
A taxed account has to advertise far more to catch up with a tax-free one. With a 31.4% levy, a bank savings account or a term deposit must pay 2.48% gross to match 1.7% net, and 3.64% gross to match the LEP. Comparing the gross rates advertised by banks with those of the regulated passbooks means comparing different things.
In euros, a full Livret A earns €390.15 over a whole year at 1.7%, a full LDDS €204, a full LEP €250 and a full livret jeune €27.20. Interest on regulated passbooks is calculated per fortnight: money paid in on the 3rd of a month only earns from the 16th, and money withdrawn on the 14th stopped earning on the 1st.
The Livret A in 2026, and its ceiling in 2027
The Livret A has paid 1.7% since 1 August 2026, after 1.5% in the first half of the year; it was still at 3% until January 2025. Its rate is reviewed twice a year, the next possible change being on 1 February 2027. Anyone can open one, children included, with €10 minimum.
Its ceiling is €22,950 of payments, but it is about to change. On 3 November 2026, the French Prime Minister announced it would be raised in February 2027, to between €25,000 and €30,000 (in French), with the exact figure to be set by the Finance Minister after talks with the banks, and added that “the rate will also rise”. Nothing has been published in the Official Journal yet.
LDDS and LEP: the other two regulated passbooks
The LDDS works like the Livret A, at the same rate, with a €12,000 ceiling, and is reserved for adults. Together, they let a single person save €34,950 tax-free, and a couple €69,900. The guide to the LDDS covers its ceiling, its rate and how its interest is calculated.
The LEP pays more, 2.5%, but it is reserved for households whose reference tax income stays under a ceiling that depends on the number of tax shares. Its payment ceiling is €10,000. Many households qualify without knowing it: the guide to the LEP includes the official income ceiling table.
The livret jeune: ages 12 to 25
The livret jeune can be opened between ages 12 and 25, with €10 minimum, according to service-public.fr (in French). Payments are capped at €1,600, interest is tax-free, and its rate, set by each bank, cannot be lower than the Livret A's, currently 1.7%. You can only hold one.
Before 16, withdrawals need the parents' agreement. From 16 to 18, they are free, unless the parents notify the bank of their objection. The account is closed in the year the holder turns 25, by 31 December at the latest. Its ceiling is low, but it adds to the Livret A and the LDDS, and some banks pay more than the minimum.
Bank savings accounts and boosted accounts
Bank savings accounts (comptes sur livret) have neither a ceiling nor a state-set rate. Each bank sets its own, often low, and the interest is taxed at 31.4%. To attract new customers, some offer “boosted” accounts: a high rate for a few months, then the account's normal rate.
Look at the rate over the whole year. An account at 4% for three months then 1% for the rest of the year pays 1.75% gross over twelve months, or 1.20% net: less than the Livret A. These offers often come with conditions too, such as a minimum or maximum amount, or being a new customer. They are mostly useful once the Livret A and the LDDS are full.
The term deposit
A term deposit (compte à terme) locks a sum for a period set at opening, from one month to several years, in exchange for a rate known in advance, fixed, stepped or variable. According to service-public.fr, the money is not available before the term: an early withdrawal usually forfeits all or part of the interest. There is no ceiling, and the interest is taxed at 31.4%.
Its value lies in guaranteeing a rate for the whole term, which protects you when rates fall. But at the same rate it pays less than a regulated passbook: a term deposit at 2.5% gross pays 1.7% net, the same as the Livret A, with the money locked. It compares with a bank savings account, for money above the regulated passbooks' ceilings.
Where to put your money once the Livret A is full
- The LDDS, up to €12,000, at the same rate and tax-free.
- The LEP, up to €10,000, if the household's income allows: it is the best risk-free rate.
- The livret jeune, up to €1,600, for each child aged 12 to 25.
- For money that can wait several years, a life insurance euro fund, which paid 2.63% on average in 2025, or a PEL if a home purchase is being prepared.
- For money that must stay available above the ceilings, a bank savings account or a term deposit, always comparing net figures.
The guide on where to put your money in France goes further, with a method that starts from each sum's time horizon. The guide to the PEL explains when a home savings plan is worth it.
Emergency savings: what to keep in passbooks
Emergency savings are the money kept available for the unexpected: a breakdown, a job loss, a health expense. They belong in regulated passbooks, available at any time and risk-free. A common rule of thumb is to keep three to six months of expenses, more for a self-employed person or an irregular income. Beyond that, leaving money in an account that pays less than inflation loses purchasing power every year.
Deposit guarantee
If a bank fails, France's deposit guarantee fund repays up to €100,000 per customer and per bank for current accounts, bank savings accounts, term deposits, PELs, CELs and livrets jeunes. The Livret A, LDDS and LEP have a separate state guarantee, of another €100,000 per customer and per bank. The two add up.
The compound interest calculator shows what regular savings grow into at a given rate, taking inflation into account. Tradoshi's portfolio tracking accepts your savings accounts as declared holdings, alongside your other accounts.
This guide is educational and is not personal investment advice. The rates and ceilings quoted are those in force in November 2026; the regulated passbooks' rates can change on 1 February 2027.
Frequently asked questions
Which French savings account pays the most in 2026?
The LEP, at 2.5% net up to €10,000, reserved for households under an income ceiling. For everyone else, the Livret A and the LDDS pay 1.7% net, and the livret jeune at least as much for ages 12 to 25.
What is the Livret A ceiling?
€22,950 of payments in November 2026. On 3 November 2026 the French Prime Minister announced a rise in February 2027, to between €25,000 and €30,000, with the exact amount still to be set.
Where should I put my money once the Livret A is full?
In the LDDS (€12,000), then the LEP if your income allows (€10,000), the livret jeune for ages 12 to 25, then depending on the time horizon: a life insurance euro fund or a PEL for money that can wait, a bank savings account or term deposit for money that must stay available.
Is a term deposit worth it?
It guarantees a rate for its whole term, but the money is locked and the interest is taxed at 31.4%. It needs 2.48% gross to match the Livret A at 1.7% net. It mostly suits money above the regulated passbooks' ceilings.
Are boosted savings accounts worth it?
Only when you look at the rate over the whole year. An account at 4% for three months then 1% pays 1.75% gross over a year, or 1.20% net after the 31.4% levy: less than the Livret A.
At what age can you open a livret jeune?
Between 12 and 25. It is capped at €1,600, pays at least the Livret A rate (1.7%) tax-free, and is closed in the year the holder turns 25.
How much should I keep as emergency savings?
A common rule of thumb is three to six months of expenses, in accounts available at any time, more for a self-employed person or an irregular income. Beyond that, money is better invested according to its time horizon.
Is my money guaranteed in a French savings account?
Yes, up to €100,000 per customer and per bank for deposits (bank savings accounts, term deposits, PEL, livret jeune), plus another €100,000 for the Livret A, LDDS and LEP, which have a separate state guarantee.