France's Livret A rate falls to 1.5%, prompting 19 million eligible for higher‑yield LEP

The Livret A interest rate dropped to 1.5% in February 2026, the lowest level in four years, resulting in a real return of –0.7% against 2.2% inflation. In April 2026, savers withdrew €1.28 billion, the worst April since 2009 and the fourth consecutive month of net outflows.

The Livret d'Épargne Populaire (LEP) offers a 2.5% rate, delivering a real return of +0.3% and providing an extra €100 per €10,000 deposited each year compared with the Livret A. Around 19 million French residents meet the eligibility criteria – a single filer with a fiscal reference income under €23,028 or a couple under €35,326. The LEP has the same tax‑free, state‑guaranteed safeguards as the Livret A, but with a lower deposit ceiling (€10,000 versus €22,950). Financial commentators suggest the LEP is the more attractive risk‑free option for eligible households in 2026.