Are you wondering which savings accounts are available to you in France? Some options are regulated by the government and come with attractive benefits—but they also have specific eligibility criteria and usage conditions.
That’s why it’s essential to understand the different types of savings accounts before deciding which one suits your needs best. In this blog, we’ll guide you through the most important options, based on our own experience and insights as expats navigating the French financial system.
Let’s dive in!
Table of Contents
What kind of savings accounts in France?
When settling in France, one of the first financial steps you’ll likely take is opening a savings account. But with so many options available, it’s important to understand the differences—especially between familiar account types and those unique to the French system.
1. Classic Savings Accounts
These include standard deposit accounts, fixed-term savings, and other basic options you’re probably already familiar with from your home country. They’re straightforward and easy to open, but typically offer low interest rates.
2. Promotional “Super” Savings Accounts
Some banks offer high-interest savings accounts to attract new customers. These accounts often come with a temporary promotional rate that drops significantly after a few months—usually below inflation. While they may look appealing at first glance, they’re often more of a marketing tactic than a long-term savings solution.
Our opinion? Approach these offers with caution. Unless you have a short-term savings goal, they’re rarely worth it in the long run.
3. Regulated Savings Accounts
France offers a range of government-regulated savings accounts with tax advantages and guaranteed returns. These include:
- Livret A – Open to all residents, tax-free interest, and flexible withdrawals.
- LDDS (Livret de Développement Durable et Solidaire) – Similar to Livret A, but with a focus on sustainable development.
- LEP (Livret d’Épargne Populaire) – For low-to-middle income earners, offering higher interest rates.
- PEL (Plan d’Épargne Logement) and CEL (Compte Épargne Logement) – Designed to help you save for housing projects or secure better mortgage rates.
- Livret Jeune – A youth savings account for those aged 12 to 25, with attractive interest rates.
Yes, it’s a lot to take in—but understanding these options can help you make the most of your savings in France.
How to select the best savings account in France?
The key and commun 2 variables to understand are:
- The amount. If need to keep handy an amount less than 22k€ (emergency fund, or personal projects), opening a ‘Livret A‘ could be best. However, if you need to save a larger amount, then continue reading 😉
- The taxes. Most of the special savings accounts are income and social contribution tax exempted as regulated by the government. This is very unique in France, as almost any other income will be at least taxed with social contributions.
Here a comparative matrix:
| Livret A | LDDS | Livret Jeune | LEP | |
|---|---|---|---|---|
| Conditions | 1 per person | 1 per person | 1 per person (12-25 years old) | 1 per person (low income family) |
| Limit | 22950 € | 12000 € | 1600 € | 10000 € |
| Interest rate (as Q3 2025) | 1,7 % | 1,7 % | Not fixed but > Livret A | 2,7 % |
| Immediate availability | Yes | Yes | Yes | Yes |
| Interests tax-free? | Yes | Yes | Yes | Yes |
Notes:
- Interests earned do not impact the limits of each account type.
- No need to declare these accounts within your tax return file.
- There are no penalties / fees for withdrawals.
- LEP is reserved for low income families (21,393€ for a single person, or 30,706€ for a couple)
- Data shown above may not be the latest one by when you are reading this blog as it changes frequently
Why having a saving account in France is important?
Having a savings account in your portfolio is important as it will allow you earning interests (even though it will hardly beat the inflation), with very low risk and full availability of your funds.
Normally, a family should have an ‘emergency fund‘ with the equivalent of 3 to 6 months of expenses. This could be useful during hard times (employment period, health issues, etc).
It might be more convenient having your emergency funds in a savings account, rather than in a current / checking account slowing losing your purchasing power and sometimes paying bank fees.
However, if your risk tolerance is limited, and you want to save a maximum amount optimizing taxes and with the highest possible interest rates, you can open multiple savings accounts with up to 135 800€ (family of 4). See image below:
Savings accounts in France with highest interest rate
The top savings account in France earning the most is the ‘Livret d’Epargne Populaire’ – LEP with an incredible interest rate higher than inflation (see table above). However, It is reserved french tax payers and for low income families and limited up to 7,700€ x person or 2 accounts per family.
How to know if you below to the ‘low income families’? It fixed as as per your taxabled revenue (referred to the tax return from previous year).
As example, for a couple with a child (2,5 parts) the family revenue should not be higher than 38,530€ for 2023. Click Here for more information.
myFrenchMoney tip
In case you are looking for other alternatives from the classic savings accounts, we recommend the online bank Revolut. They propose 'money market' saving options allowing you to save in euros, dollars and pounds with a super interest rate.
Click in the start and open an account to benefit from our referral link (not a financial advice, do your own research).
Can a savings account be used as salary account in France?
Nope! Even though in France the labor law only requires a bank account at your name, you will need to provide a RIB -‘Relevé d’Identité Bancaire’ (Account details) to your employer. The problem is that savings accounts do not have RIBs.
Therefore, most likely your bank will recommend you to open a current account (so you can have a RIB and a CB ‘carte Bleu’. Then, you may plan automatic transfer to your savings account.
myFrenchMoney tip
Living in France and unsure about your financial setup? Take advantage of our free personal finance assessment to uncover opportunities for improvement and make smarter money decisions. Just click the green star to get started!
Our final thoughts about French savings accounts
First, If you qualify for a LEP (Livret Epargne Populaire) it might be a good idea to open one considering its high interest rate and tax advantages.
Secondly, we would open a ‘Livret A‘ and/or a LDDS account as it will allow us earning a decent -full tax free – interest rate with zero risk. We personally have each one a ‘Livret A’ and we use it as our ’emergency fund’ account.
As all the other savings accounts are rarely beating the inflation rate, we do not normally use them and prefer to invest in other assets instead. Here our blog about investing in France in case you are looking for some ideas.
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Bon chance!
Disclaimer
Please remember that we are neither financial nor tax advisors. We are just sharing our best understanding based in our own experience. This blog is for educational purposes only. Do not make investment decisions solely based on what you read in this blog. What works for us, may not for you. Do your own research and look for professional service if required. Read our full disclaimer in the ‘about’ page.
