The interest rate on the Livret A savings account: how it is set and when it changes

The interest rate for the Livret A savings account is set by the French government. The Bank of France calculates the rate and proposes it to the Ministry of the Economy every six months. In its press release of July 15, 2026, the Ministry indicated that the rate was raised upon the proposal of the Governor of the Bank of France. It has been 1.7% per annum since August 1, 2026, for the period ending January 31, 2027. It was 1.5% per annum from February 1 to July 31, 2026.

This page explains who decides, what factors are used in the calculation, and on what dates the rate changes. It does not provide the numerical formula (weightings, rounding), it does not predict the rate that will apply after January 31, 2027, and it does not detail the rules for opening the account, which are covered on the page dedicated to the Livret A savings account.

The essentials in one table

Who decides the rate

The Livret A savings account is a regulated product. According to economie.gouv.fr, the government decides how it works, its interest rate, and its maximum deposit limit. The information sheet on service-public.gouv.fr similarly indicates that the interest rate is set by the government.

The division of roles stems from two sources:

• According to news from service-public.gouv.fr dated July 15, 2026, the Bank of France is responsible for calculating the rate and proposing it every six months to the Ministry of Economy and Finance; ;
• In its press release of July 15, 2026, the Ministry of Economy indicates that the Minister is raising the rate of the Livret A to 1.7 %, on the proposal of the Governor of the Bank of France.

The information sheet on service-public.gouv.fr refers, for the period from August 1, 2026 to January 31, 2027, to the decree of July 28, 2026 concerning the interest rates of certain regulated savings products. This page does not reproduce the text of the decree: it simply reflects the information provided in the information sheets and the press release that cite it.

What is the calculation based on?

Regulated savings account rates follow specific formulas. According to news from service-public.gouv.fr published on July 15, 2026 (updated on July 31, 2026), these formulas take into account:

• the average of interbank rates in the euro area; ;
• the average change in the consumer price index, excluding tobacco, over the last twelve months.

The press release from the Ministry of Economy dated July 15, 2026 says the same thing: the rate takes into account inflation excluding tobacco over the last twelve months and the average of interbank rates in the euro area.

This page does not reproduce the formula itself (weightings, rounding, potential floor). Therefore, it does not provide any calculation of the 2026 or 2027 rate.

When the exchange rate

The rate is reassessed every six months, according to the press release of July 15, 2026. In 2026, the changes took place on two dates:

The increase from 1.5 % to 1.7 % represents a rise of 0.2 percentage points. The rate of 1.7 % is set for the period from August 1, 2026 to January 31, 2027; the applicable rate thereafter is not known at the time of review.

Does the rate automatically follow the formula?

Not necessarily. The news on service-public.gouv.fr specifies that it is possible to deviate from the formulas in exceptional circumstances.

Two examples taken from official pages:

• In 2026, for the Livret d'épargne populaire (LEP), the same news indicates that the regulatory formula would have led to a rate of 2.2 %. The rate was maintained at 2.5 %, which the text presents as a "boost" in line with the recommendation of the Governor of the Bank of France; ;
• In 2023, a page on economie.gouv.fr dated October 1, 2023, indicated that, according to the calculation, the rate of the Livret A could be raised to 4.1 %, and that the minister followed the recommendation of the Bank of France by keeping it at 3 %.

These two cases show that the published rate can differ from the calculated result. For the Livret A savings account, this page does not establish whether the rate of 1.7% (%) coincides with the raw result of the formula.

The LDDS rate follows that of the Livret A

The press release of July 15, 2026, indicates that the Sustainable and Solidarity Development Savings Account (LEP) is fully linked to the Livret A savings account: its rate is therefore set at 1.7% as of August 1, 2026. The LEP rate remains at 2.5% as of August 1, 2026. For details on these two savings accounts, please see the pages dedicated to them.

How the rate translates into interest

The rate is annual. Interest is calculated on the 1st and 16th of each month, on amounts deposited in full two-week periods, and then added to the principal on December 31st. It is exempt from income tax and social security contributions. These rules are detailed on the page "Livret A: ceiling, rate and operation in 2026". This page does not provide calculations based on two-week periods.

Numerical example (fictitious profile)

Situation. A business owner has €22,950 in their Livret A savings account, which is the maximum deposit limit for an individual. This sum serves as a personal cash reserve.

Issue. The rate increased from 1.5 % to 1.7 % on August 1, 2026. He wants to measure what this increase changes, and to know what a variation would weigh at the next revision, whose end date is January 31, 2027.

Strategy. He reasons on an illustrative annual basis, with a constant balance, to compare the two rates. He keeps in mind that the rate applicable after January 31, 2027 is not known.

Result. Assumptions: constant balance of €22,950; assumed rate maintained for twelve months, which is an assumption since the rate applicable after January 31, 2027 is not known; interest calculated on the outstanding amount indicated, without taking into account fortnightly periods or capitalization.

On this balance, each tenth of a percentage point of the interest rate represents €22.95 per year. If their spouse also holds a Livret A savings account at the maximum limit (€45,900 total for the couple), the illustrative difference between 1.5% and 1.7% is €91.80. This interest is exempt from income tax and social security contributions. This profile is hypothetical. The figures illustrate the mechanism and do not predict any specific outcome for your situation.

What changes depending on your situation

• The period during which your money remains in the savings account: the rate of 1.7 % is fixed until January 31, 2027; the rate for the following period is not known.
• The balance of each savings account in relation to the ceiling of €22,950: the effect of a change in rates is proportional to the outstanding balance.
• The number of regulated savings accounts you hold (Livret A, LDDS, LEP): their rates do not follow the same trajectory.
• The portion of your cash that needs to be readily available, and the portion that can be invested over a longer period. This page does not answer that question.
• Your residency situation: the official Livret A fact sheet does not set a condition of tax residency in France, but this page does not deal with the specific case of leaving or returning.

No results are guaranteed. This page does not show the amount of interest you will receive.