The ceiling of the Popular Savings Book (LEP), reserved for the most modest households, will increase from 7,700 euros to 10,000 euros on Sunday, October 1, indicates a decree published on Friday in the Official Gazette.
This decision was announced in mid-July by the governor of the Bank of France, François Villeroy de Galhau, and the Minister of Economy, Bruno Le Maire, without a precise date of application.
Any additional payment is prohibited when the account balance in a Popular Savings Book is greater than or equal to this limit, the decree states.
The Popular Savings Book rate was reduced to 6% on August 1, compared to 6.1% previously. The authorities wanted to promote this savings product reserved for the most modest, since its yield should have increased to 5.6% if the calculation formula provided for by law had been applied.
Around 9 million people, although eligible, do not have it.
The Livret A rate remained at 3% for a year and a half, when it should have increased to 4.1%.
With around 55 billion euros in outstanding balances, the LEP weighs ten times less than the Livret A and the Sustainable and Solidarity Development Notebook together, whose rate also remains at 3%.
Source: BFM TV
