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Livret d'épargne populaire (LEP): everything you need to know from 1ᵉʳ August 2023
The Livret Epargne Populaire (LEP) is a regulated savings vehicle in France. Accessible under certain conditions, it is mainly intended for people on modest incomes. In 2023, it will be the highest-yielding savings account! Are you entitled to open a LEP? What is the ceiling and interest rate? The savings scheme is currently subject to new rules (percentage rate and ceiling). We explain everything here.
WHAT IS THE INTEREST RATE ON THE POPULAR SAVINGS PASSBOOK?
🥳 On 1 August 2023, despite a slight fall, the LEP had the highest interest rate: 6% per annum! The Livret d'Epargne Populaire rate is revalued every year. Interest is calculated on the 1st and 16th of each month.
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It won't change: in 2023, the interest rate on the Livret A and the Livret de Développement Durable et Solidaire (LDDS) will be 3%. |
WHAT IS THE MAXIMUM LIMIT ON THE LIVRET D'EPARGNE POPULAIRE SAVINGS ACCOUNT?
Today, you can pay up to €7,700 into your LEP. The concept? Once the savings account is full, the money continues to work, so you continue to earn interest. To open your LEP, you need to make an initial deposit of €30. Then set the amount of your monthly payments yourself, with a minimum of €10!
💡 New, and not least: on 1ᵉʳ October 2023, the maximum limit on your LEP will rise to 10,000 euros!
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Good to know: you don't pay tax on your LEP, either on its interest or on withdrawals! The cash is immediately available, and you don't have to pay anything if you make a withdrawal. Like the Livret A passbook savings account, it is also tax-efficient! However, the available balance must always remain positive. |
WHAT ARE THE CONDITIONS FOR OPENING A POPULAR SAVINGS ACCOUNT?
- - Be over 18
- Be resident in France for tax purposes
- Have a reference tax income that does not exceed the ceilings set according to your place of residence 👇
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Number of family quota units |
Income ceiling in mainland France* (in euros) |
Income ceiling in Guadeloupe, Réunion and Martinique*. |
Income ceiling in French Guiana* |
Plafond de revenus à Mayotte* |
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1 |
21 393 € |
25 316 € |
26 466 € |
39 665 € |
|
1,25 |
24 250 € |
28 340 € |
30 109 € |
45 122 € |
|
1,5 |
27 107 € |
31 363 € |
33 751 € |
50 579 € |
|
1,75 |
29 964 € |
34 220 € |
36 608 € |
54 858 € |
|
2 |
32 818 € |
37 077 € |
39 465 € |
59 137 € |
|
2,25 |
35 678 € |
39 934 € |
42 322 € |
63 416 € |
|
2,5 |
38 532 € |
42 791 € |
45 179 € |
67 695 € |
|
2,75 |
41 389 € |
45 648 € |
48 036 € |
71 974 € |
|
3 |
44 249 € |
48 505 € |
50 893 € |
76 253 € |
|
3,25 |
47 106 € |
51 362 € |
53 750 € |
80 532 € |
|
3,5 |
49 963 € |
54 219 € |
56 607 € |
84 809 € |
|
3,75 |
52 820 € |
57 243 € |
59 464 € |
89 090 € |
|
4 |
55 677 € |
59 933 € |
62 321 € |
93 369 € |
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4,25 |
58 534 € |
62 790 € |
65 178 € |
97 648 € |
|
4,5 |
61 391 € |
65 647 € |
68 035 € |
101 927 € |
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4,75 |
64 248 € |
68 504 € |
70 892 € |
106 206 € |
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5 |
67 105 € |
71 361 € |
73 749 € |
110 485 € |
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5,25 |
69 962 € |
74 218 € |
76 606 € |
114 764 € |
|
5,5 |
72 819 € |
77 075 € |
79 463 € |
119 043 € |
|
5,75 |
75 676 € |
79 932 € |
82 320 € |
123 322 € |
|
6 |
78 533 € |
82 789 € |
85 177 € |
127 601 € |
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Quart de part supplémentaire |
2 857 € |
2 857 € |
2 857 € |
4 279 € |
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Demi-part supplémentaire |
5 714 € |
5 714 € |
5 714 € |
8 558 € |
*Ceiling indicated for 2022/2023. They can be consulted on the Public Service website.
You can only open one Livret d'Epargne Populaire savings account. The number of passbooks per tax household is limited to 2. If you change banks, you can ask for your LEP to be transferred.
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🔥 Good to know: if your income exceeds the regulatory limits in any one year, you can keep your LEP if your income the following year falls below the eligibility limit again. |
WHAT ARE THE OTHER ALTERNATIVES TO THE POPULAR SAVINGS PASSBOOK?
With inflation, your money loses value. So it's important to invest it in secure, interest-bearing products. You have two options: saving or investing.
Livret A passbook savings accounts, life insurance, responsible investments (with Birdee, invest as little as €50 and take part in the development of socially responsible projects!), sustainable development passbook savings accounts - there are a wide range of profitable products to suit your profile and budget.
