A Return above inflation
The current period of financial uncertainty is leading many investors to favor the security of booklet pay rather than the random return of stock markets.
In fact, the consumer price index is a good benchmark for calculating the growth in the purchasing power of its capital.
In the last two years, for example, the remuneration of an A passbook has, year in and year out, helped maintain the purchasing power of savers as shown in the table below.
|Period||Average inflation||Livret A rate||Percentage difference|
|Year 2010||1.5%||From January to July 2010||1.25%||-0.25%|
|From August to December 2010||1.75%||+ 0.25%|
|Year 2011||2% (estimate)||January 2011||1.75%||– 0.25%|
|From February to August 2011||2%||0%|
|Since August 2011||2.25%||0|
Taxation and remuneration of accounts on passbook
Appraise the performance of a savings account requires comparing identical elements. That is why it is essential to focus only on the interest rate net of tax.
Tax-exempt booklets are state-regulated savings accounts. This means that the government decides on the interest rate and the conditions of access.
They are also the only operations that benefit from the exemption from capital gains tax.
Rate of regulated booklets
as of August 1, 2011
|Interest rate||tax system||Ceiling|
|Saving savings booklet||2.75%||
|Sustainable Development booklet||2.25%||
|Young booklet||Minimum: 2.25% (1)||
(1) The yield of the young booklet is left to the discretion of the bank. The only obligation is to ensure at least the output of the booklet A. It is therefore advisable to check the competition before deciding to open this type of book. For example, Monabank, the online bank offers a rate of 4% (rate in effect in October 2011).
Bank booklets to complete
If you have reached the limit of the regulated operations, know that the bank booklets are excellent complements to place his money. However, if you are looking for the best bank booklet, consider comparing booklets outside of the promotional rate period.
Indeed, many online banks offer particularly attractive rates on opening. This is the case of Bforbank which proposes a rate of 5% gross up to 100 000 € deposit for 3 months.