2024-01-28 10:01:09
Since its creation, the Youth Booklet has been a very popular product, in particular because of its attractive rate of return. However, this craze was interrupted with the appearance of the Livret A, in 2009. All eyes then turned to this savings product which seemed more interesting. Will the Youth Booklet regain ground, particularly with this relative decline in the level of inflation?
Why did the Livret A dethrone the Livret Jeune?
At the end of 2008, the French had saved 7.5 billion euros thanks to the Livret Jeune. Since then, this sum has continued to decrease, reaching 4.8 billion euros in January 2023, a drop of 36% in 15 years. The Livret A is the main culprit for this decline, because, since January 2009, all banks have started to offer this savings product at a competitive rate to their customers. One of its biggest advantages is its accessibility. Indeed, from birth, parents can open this type of account in their child’s name in the bank of their choice.
Inflation in favor of the outstanding Youth Booklet?
The provisional figures for 2023 clearly indicate that the Livret Jeune is taking its revenge and marking its comeback, due to inflation which has increased the yields on savings accounts, including that of the Livret Jeune. This increase comes following 15 years of decline, which does not fail to excite savers who seek to protect themselves from the effects of increasing prices.
In detail, in November 2023, the average rate for the Livret jeunesse was 3.56%, according to figures from the Banque de France, which represents an increase of more than 1.5 points compared to January 2023. Certain establishments Banks can even offer a rate of up to 4%. The interest rate for the Youth Booklet, unlike other regulated booklets, is set by the banks. That said, it cannot be lower than the Livret A rate, currently at 3%.
However, only people aged 12 to 25 can open a Youth Booklet. In addition, it is limited to small savings, with a ceiling set at 1,600 euros, while the Livret A can go up to 22,950 euros and the sustainable development booklet up to 12,000 euros.
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