Marketed freely by banks, savings books are exempt from income tax and social security deductions with a right to a return. It is a subject that requires a great deal of thought to determine the length of time the funds are tied up with the level of risk. This is why we have written this guide to help you make the right choice.
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Our selection
"Take advantage of an offer paying 0.20% gross up to €20,000 with the Carrefour Banque passbook. On an initial payment of €10, the subscriber still…"
"The Distingo passbook is a PSA Bank savings account that has been awarded the 2020 label of excellence by the French savings association (Dossiers de…"
"The Distingo passbook is a PSA Banque savings account recognized as a 2020 label of excellence by the Epargne files. The passbook currently pays a…"
"Take advantage of the Cashbee savings account offer with a 2% interest rate promotion for 3 months on deposits up to €75,000. Outside the promotion,…"
Take advantage of an offer paying 0.20% gross up to €20,000 with the Carrefour Banque passbook. On an initial payment of €10, the subscriber still receives 0.10% for a monthly scheduled payment.
see the offerLaunched in October 2012, the Carrefour Banque passbook is available in all Carrefour Banque branches, online, and in certain hypermarkets. Your savings account can be managed online free of charge from the secure customer area with the ability to view interest and make or schedule payments. For withdrawals, the account balance remains available at all times provided that you keep a minimum balance of €10.
The Carrefour Bank passbook is defined as a taxed passbook account with a tiered interest rate. The passbook is currently remunerated at a gross rate of 0.20% up to €20,000 and 0.30% between €20,000 and €100,000 and 0.40% over €100,000. To the advantage of the subscriber, apart from the 0.20%, Carrefour offers a loyalty bonus of 0.10% for a programmed payment. And even more 0.50%, if the customer adopts a frequent use of the Pass card.
The Distingo passbook is a PSA Bank savings account that has been awarded the 2020 label of excellence by the French savings association (Dossiers de l'Épargne). The passbook currently pays a gross annual interest rate of 0.60% and is available to adults and minors.
see the offerSubject to social security contributions and taxes, the Distingo passbook is a savings account distributed by PSA Banque, a banking subsidiary of the Peugeot SA group. Launched in March 2013, this passbook is managed remotely from opening to closing. Currently offering a return of 0.60% gross per annum, the savings passbook has a maximum limit of €10,000,000.
The Orange passbook offers a return of 0.10% to 0.15% gross. The interest rates of the Orange passbook are also calculated on the basis of the fortnightly method. They are cumulative and directly positioned on your account at the end of the year. This passbook is also subject to the default tax rate of 30%. It can be held in an individual or joint account. For information, the Orange passbook is equivalent to the Excellence passbook of Crédit Mutuel.
The Distingo passbook is a PSA Banque savings account recognized as a 2020 label of excellence by the Epargne files. The passbook currently pays a gross annual interest rate of 0.60% and is available to adults and minors.
see the offerSubject to social security contributions and taxes, the Distingo passbook is a savings account distributed by PSA Banque, a banking subsidiary of the Peugeot SA group: Peugeot, Citroën, DS automobiles and Opel. Launched in March 2013, this passbook is managed remotely from opening to closing. Currently offering a return of 0.60% gross per annum, the savings passbook has a maximum limit of €10,000,000.
To open a PSA Distingo passbook, the client must have a bank account in the UK, either an individual account or a joint account. This account is available to adults as well as to minors with a legal representative holding a Distingo passbook. When subscribing, you must fill in an online form and make a minimum deposit or transfer of €10. Note that withdrawals can only be made by transfer at any time, while maintaining a minimum balance of €10.
Take advantage of the Cashbee savings account offer with a 2% interest rate promotion for 3 months on deposits up to €75,000. Outside the promotion, the customer can deposit up to €1,000,000 for a rate of interest of 0.60%.
see the offerCashbee is a fintech working with My Money Bank and the insurer Generali. The Cashbee passbook is subject to tax and social security deductions. The basis of the Cashbee offer is to synchronize your main account on its application by encouraging you to save. In short, the offer of this type of passbook is based on an interest-bearing account hosted by My Money Bank. The Cashbee passbook has a ceiling of €1,000,000 with a rate of return of 0.60% excluding promotions.
The Cashbee passbook is only intended for individuals of legal age and the funds are available at any time. To open, you need to download the Cashbee app and create a profile by filling in a form with your information, an ID and a proof of address less than 3 months old. After approval of your profile, the Cashbee savings account opens after an electronic signature and a minimum transfer of 10 €.
Any specific needs?
Best best savings passbook : Bank best rate
Best savings passbook : Bank best entry-level rate
Best savings passbook : Bank best high-end rate
Excellent savings passbook : Bank best rate
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9/10 |
7/10 |
8/10 |
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| OUR SELECTION |
Carrefour Bank passbook
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Crédit Mutuel Orange Savings Account
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PSA Banque's Livret Distingo
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Cashbee passbook account
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Take advantage of an offer paying 0.20% gross up to €20,000 with the Carrefour Banque passbook. On an initial payment of €10, the subscriber still receives 0.10% for a monthly scheduled payment.
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The Distingo passbook is a PSA Bank savings account that has been awarded the 2020 label of excellence by the French savings association (Dossiers de l'Épargne). The passbook currently pays a gross annual interest rate of 0.60% and is available to adults and minors.
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The Distingo passbook is a PSA Banque savings account recognized as a 2020 label of excellence by the Epargne files. The passbook currently pays a gross annual interest rate of 0.60% and is available to adults and minors.
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Take advantage of the Cashbee savings account offer with a 2% interest rate promotion for 3 months on deposits up to €75,000. Outside the promotion, the customer can deposit up to €1,000,000 for a rate of interest of 0.60%.
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Rate of return
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0.20% - 0.40%
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0.10% - 0.15%
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0.60%
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0.60%
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Accessibility
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Adults and minors
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Adults and minors
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Persons of legal age and minors
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Persons of legal age
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Minimum payout
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10 €
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10 €
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10 €
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10 €
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Capping
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Illimited
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Illimited
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10,000,000 €
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1,000,000 €
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Opening fee
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0 €
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0 €
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0 €
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0 €
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In order not to be fooled by the high rates, it is important to analyze the different rates of a savings book offered by banks.
Different from a current account, a savings account is a way to save money for a major expense (
building a house, travel, etc.). However, the rates differ greatly and you must clearly identify your needs. For example, you won't get the same return if you want to save for the short term or the medium term. Indeed, the gains are different.
Then, you have to know that the different savings books have a ceiling. For example, if on a passbook the ceiling is 100,000 euros, you will not be able to invest more.
You
must take into account the availability of your money. Indeed, some savings books block your money for a period of time while others allow you to carry out operations as on a current account. Obviously, the more money you leave in your account, the more it will earn for you!
We're
getting to the heart of the matter. Here, we're talking about the rate of return on your savings account. This is the factor that will determine your potential earnings when you save. In practice, it depends on the banks and the type of passbook chosen: a regulated passbook or not.
In addition, you should be wary of promotional rates
that are only valid for a short period of time. Once the time is up, your passbook will switch to the normal interest rate, which is less efficient.
If
you are less of a gambler, the regulated savings passbook is for you. It will exempt you from taxes
and seems less risky because it is short-term. However, the gains will be minimal compared to a non-regulated passbook. On the other hand, if you have a good capital, we suggest you open a non-regulated savings account. You will have a better rate and a higher limit.
The
promotional rates are only in effect for a defined time. So it's important to analyze the offer before you sign up. Sometimes, once the promotional rate ends, the regular rate is much lower than you thought.
A savings book will allow you to put your money in a safe place. Most people use it to store their pennies for future purchases or in case of a hard time.
Unlike a current account that only charges fees, keeping a savings book has a cost, but it earns you a little money per month thanks to good rates offered by banks. Moreover, if you choose a short-term passbook, your money will be at your disposal all year long and you can deposit money in it.
During this period of crisis, it is more than opportune to open or save money to foresee what will happen in the future. English people have put a lot of money in their savings account during the month of March 2020. Better to foresee than to cure!
In order to understand the world of savings, it is useful to know the different types of savings books that exist. Below, we present you the most performing ones.
The flagship product of the savings bank, the Livret A is now available in all banks. The State sets its rate of appreciation
. This mechanism ensures that the passbook remains low-risk and that it is a short-term savings. However, in case the purchasing power drops drastically, the government can change the calculation method. Secondly, the amounts deducted from the passbook will be used to build social housing. The Livret A is intended for all English people, even minors, and it cannot be accumulated.
It is
a booklet where all the modalities are at the discretion of the issuing banks. It can be opened by any adult and it has a higher rate of return
. At the opening of the account, there is no deposit limit, minimum payment, and your money is available all the time. The interest payment accumulated over 12 months is returned to your account on December 31. For your information, rates vary between 0.2% and 1.5%.
Created
in 1992, the stock savings plan is an initiative
that
allows individuals to experience the joy of stock ownership. Thanks to this plan, you can buy securities accounts at a lower cost. Unlike brokerage transactions, you get a tax rebate on your taxes related to the account. However, to qualify for this tax exemption, you will need to invest your money for a period of 8 years. But at the end of this period, you will only pay 17.2% in social security deductions; it is a long-term investment.
A savings book is said to be regulated when the government sets the rate, not the banks. In this way, there is a ceiling, which greatly reduces the risks. This is why they are also called precautionary savings and the sum remains available to its owner at all times. However, this type of passbook remains individual and you can only have one.
The banks set the current rates on unregulated passbooks or super passbooks. They are much more competitive, with a better ceiling and a more convincing rate of return. However, it is necessary to distinguish the real good offers from the catch-all. Some banks offer much more attractive rates than others with certain guarantees.
If you have a limited savings budget and are afraid of taking risks, the regulated passbook is your candidate. On the other hand, if you are looking for more performance in your savings, the super passbook is perfect.
Online Services
If you have a savings account with the best rate, enjoy all the transactions at your fingertips. Right now, with mobile and online banking, you can do all your banking in minutes and on the go. And apart from that, like most online banks offering a savings passbook, it does not impose a limit, but a minimum amount. In addition to its savings offer, it can provide a wide range of banking products that are priced, but have many advantages as well as an award-winning customer service.
Withdrawal at any time
With a savings book with the best interest rate, normally, the money deposited on it can be withdrawn at any time without incurring any fees.
Free use and access
With a best interest savings account, you usually also have free access to all ATMs. In addition to the free checkbook and drafts on demand are also free. Get free check collections and free cash transactions at the branches. It is also very accessible in relation to account opening even to non-profit legal entities.
Best Interest Rate
Opening a savings book is a way to put money aside for unexpected events or to finance your projects. It's best to opt for a savings passbook that allows you to benefit from a better interest rate on your savings account.
Security of funds
Today, bank savings remain a precautionary solution in case of a hard blow, for example to change your dishwasher or the work on your car, but also in case of love for travels and gifts for your other half. A savings book at the best rate is a safe way to keep your funds rather than keeping them on hand where they may be lost or stolen. Another important point to remember is that each account is insured by an insurance company.
Activate the automatic payment.
By putting money into your savings account on a regular basis, you will have an excellent capital for your future work. The problem is that you have to do it manually in order to fund your savings account. To alleviate this problem, you can activate the automatic deposit option from your current account to your passbook.
Juggle with promotions.
In
general, passbooks are topped up every two weeks or on the first of the month. In order to juggle, you need to deposit money before those dates and get it all back on those dates. Then you can close an account and open a new passbook to take advantage of the promotional rates.
State premium.
Did you know
that on a home savings passbook (HSP), you can have a state bonus that boosts the value of your passbook? Thanks to this premium, the rate of return can rise to 3.50%. To qualify, you must sign up for a two-year short-term plan and your home must have an energy rating between A and D.
Life insurance.
Life insurance is a great alternative to a savings passbook because it's a guaranteed kind of savings. The capital is available at all times and you will be entitled to advantageous taxation.
Increase the maximum deposit on your Livret A.
On
a Livret A, you cannot deposit more than 22,950 euros. However, it is possible to increase it by 12,000 euros by using a sustainable development passbook.
The best savings book: banks best rates depends on your needs and your budget. Read our buying guide to find out which products are the best at the moment.
The return on your savings account is defined by the rate of return that the bank offers you. The higher the rate, the more you will earn.
In contrast to blocked savings books, cash accounts work like current accounts. You can access your capital at any time.
If you ever return your Livret d'épargne A and have not used it for 10 years, you can still get your capital. However, the 30-year statute of limitations will block your money if you have not used your savings account for more than 30 years.
Only the Banque Postale can authorise you to make direct debits to pay your electricity bills or your taxes.
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