What is a livret A?
It is a tax-free savings account in France from which you can access your savings at any time.
What is the interest-rate?
The annual interest rate is set by the French government and is currently at 3% compound and is due to be kept at this rate until January 2025. The interest is calculated twice per month and added to your account on the 31st of December each year.
How much can you invest into one?
You can invest up to 22,950 euros. The value of the account can exceed €22,950 if the excess is due to interest. For charities, the limit is 76,500 euros.
Can you have more than one?
Individuals cannot have more than one livret A open at any one time. There is an exception for some rental associations.
Who can open a livret A and where can I open one?
Almost anyone has the possibility to open one, there are no criteria regarding nationality, age or country of tax residence. You can open one at any French bank.
However, you cannot open one if you also hold a compte spécial sur livret du Crédit Mutuel (livret Bleu), unless the livret bleu was opened before September 1979.
What are the charges?
There are no charges, not even for closing an account.
Can I open one in a different bank to the one which holds my current account?
Since the 1st of July 2023, there is no longer any obligation to hold your livret A in the same bank as your current account (known in French as a compte courant or alternatively as a compte chèque ou compte à vue). Banks cannot demand that you open a current account as a condition for opening a livret A, although this is normally their preference. If you change the bank of your current account, your bank cannot oblige you to close your livret A.
Can you transfer a livret A from one bank to another?
No, if you wish to change the bank of your livret A, then you must first close your existing one before you can open a new one in a different bank.
Useful links
- https://www.service-public.fr/particuliers/vosdroits/F2365
- https://www.economie.gouv.fr/particuliers/livret-a
- https://www.lafinancepourtous.com/pratique/placements/livrets-reglementes/le-livret-a-et-le-livret-bleu
The views expressed in this article are not to be construed as personal advice. Therefore, you should contact a qualified, and ideally, regulated adviser in order to obtain up-to-date personal advice with regard to your own personal circumstances. Consequently, if you do not, then you are acting under your own authority and deemed “execution only”. Additionally, the author does not accept any liability for people acting without personalised advice, who base a decision on views expressed in this generic article. Importantly, this article is dated and is based on legislation as of the date. It should be noted that legislation changes, but articles are rarely updated. Sometimes a new article is written; so, please check for later articles. Additionally, check for changes in legislation on official government websites. Finally, this article should not be relied on in isolation.
