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Best Savings Accounts in France (2024)

Updated on Jun 11, 2024
Fact checked

With interest rates rising in Europe, particularly France, placing money in a savings account is becoming increasingly popular. 

You can find many savings account (comptes d’épargne) options in France. Broadly speaking, the available savings accounts can be divided into two different categories: fixed-term savings accounts (dépôts à terme) and flexible (Instant-access) saving accounts (livrets).

In this article, we will navigate across the best saving accounts in France, providing the best available options in the French Market. We will discuss their interest rates, management fees, amounts, and other conditions. This article will also cover the requirements to open a savings account in France.

Best Flexible Saving Accounts (Livrets) in France

Flexible saving accounts, or “Comptes sur Livrets”, are instant-access saving accounts regulated by the French government. The latter are tax-free and usually offer low-interest rates. The French Central Bank sets these accounts’ interest rates and deposit amounts.

However, some banks, mostly online and neobanks, regularly post promotional interest rate offers higher than the main average rates. These promotional accounts are non-government and are mostly called “Super Livrets”. Here’s a comparison table of the best promotional instant-access saving accounts in France:

Bank / Provider Promotional Interest rate Offer Conditions Maximum Amount
Fortuneo Banque 5.50% For new customers up to EUR 100,000 for 4 months EUR 10,000,000
BforBank 5.50% For new customers  up to EUR 100,000 for 5 months No limit
MonaBanq 5.00% For new customers  up to EUR 100,000 for 3 months No limit
Trading 212 4.20% No promotional period No limit
Trade Republic 3.75% No promotional period No limit
Distingo Banque 4.00% For 4 months EUR 10,000,000
Lightyear 3.83% No promotional period No limit
Wise 3.66% No promotional period No limit
Interactive Brokers 3.402% Minimum EUR 10,000 No limit
Hello Bank 3.00% For new customers up to EUR 50,000 for 1 year No limit

Updated as of 11/06/2024.

Best Fixed-term Saving Accounts (CAT) in France

Fixed-term saving accounts are, as their name implies, accounts that hold your money for a fixed period and give you, in return, a higher interest rate. These accounts are called “ comptes à terme” (CAT). In France, their rates have been on the increase in recent months. The French Banking sector is currently witnessing a price war between banks to attract new customers, with online and neobanks being the most aggressive.

Bank/Provider 6 Months Interest Rate 12 Months Interest Rate 18 Months Interest Rate 24 Months Interest Rate More than 2 years Amount Limitations
CashbeePro 3.40% 3.60% 3.90% 3.00% Up to 3.00% Minimum EUR 150,000 Maximum EUR 20,000,000
Klarna 3.29% 3.54% 3.44% 3.39% Up to 3.39% Minimum EUR 500
Maximum EUR 85,000
Boursorama N/A 3% 3% N/A N/A Minimum EUR 5,000
No Maximum
Younited N/A 3.00% N/A 3.75% Up to 2.55% Minimum EUR 2,000
Maximum EUR 100,000
Distingo N/A 3.50% N/A N/A N/A Minimum EUR 5,000
No Maximum
Monabanq N/A 2.10% N/A 2.40% Up to 4.80% Minimum EUR 3,000
Maximum EUR 25,000

Updated as of 09/05/2024.

Flexible saving accounts (Comptes Sur livrets) Reviewed

1. Government Livret accounts: Livret A, Livret Jeune, Livret LDDS, etc.

These products are savings offers regulated by the government with fixed interest rates and a relatively low maximum deposit amount (not exceeding EUR 30,000). The conditions are identical in all banks, so the offers are the same whether it’s a traditional or an online bank.

Livret savings accounts are tax-free government-regulated accounts. They are offered by most traditional banks (BNP, Crédit Agricole, Société Générale, etc.) and online banks (Boursorama, Hello Bank!, etc.)

Account Type Interest Rate Maximum Amount Description
Livret A 3.00% EUR 22,950  – The most common type of Livrets
– It allows you to save up to 22,950 EUR
– 1 account is allowed per person
– Can also be set up for children
LDDS 3.00% EUR 12,000  – Livret de Développement Durable
– It allows you to save up to EUR 12,000
– You must be a tax resident in France
-Maximum 2 accounts per household
Livret Jeune minimum 3.00% EUR 1,600  – Youth account
– You must be resident in France
– You must be between 12 and 25 years old
LEP 6,10%
(6% starting
  01-Aug-2023)
EUR 7,700
(EUR 10,000 starting
  01-Aug-2023)
-Livret d’Epargne populaire
-Higher Interest rate for low-taxpayers
– You must be resident in France
-You must prove that you pay less than a specific amount of income tax

2. Non-Government Livrets Accounts:

These products present more interesting savings offers. Banks fix interest rates, fees, and other conditions, leaving space for promotional offers and competition. These accounts are called the Boosted or Super Livrets and are available in traditional banks, online banks, or Fintechs. However, your interest-generated income is taxable.

Fortuneo Banque Livret+ savings account

Fortuneo Bank, a subsidiary of Arkéa Direct Bank, is a French online Bank operating in the French market since 2000. It offers regular banking products such as loans, credit cards, and saving accounts. The flexible saving account in Fortuneo Bank is called Livret+.

Key Features:

  • A 5.50% interest rate is applied to your balance for the first 4 months
  • A maximum of EUR 100,000
  • Above EUR 100,000 or after the 4 months, the interest rate drops to 2.00%
  • Free account maintenance fees
  • A maximum amount limitation of EUR 10,000,000

BforBank Livret Savings Account

BforBank is the online bank of the French Banking group “ Crédit Agricole”.It was established in 2009 and provides, since then, multiple financial services and products. BforBank offers a flexible saving account with competitive features.

Key Features:

  • A 5.50% interest rate is applied to your balance for the first 3 months.
  • A maximum of EUR 100,000
  • Above EUR 100,000 or after the 3 months, the interest rate drops to 2.10% 
  • Free account maintenance fees
  • No maximum amount limitation

MonaBanq Livret Savings Account

Monabanq is a French banking group “Crédit Mutuel Alliance Fédérale” subsidiary. It is a 100% online bank in the French Market since 2006. MonaBanq’s Livret account offers very competitive features.

Key Features:

  • A 5.00% interest rate is applied to your balance for the first 3 months.
  • A maximum of EUR 100,000
  • Above EUR 100,000 or after the 3 months, the interest rate drops to 1.00% 
  • Free account maintenance fees
  • No maximum amount limitation

Trading 212 Flexible saving account

Founded in 2006 and with over 2.5 million funded accounts, Trading 212 is a fintech based in London that aims to democratize the entire investment process through a simple mobile application by allowing anyone to invest in more than 10,000 stocks and ETFs plus CFDs on Stocks, ETFs, Indices, Forex, and Commodities. It offers a free share worth up to €100!

Key Features:

  • A 4.20% interest rate is applied to your balance for an unlimited period
  • No minimum is required
  • Free maintenance fees on your account
  • Daily interest accruals paid monthly into your account
  • No maximum amount limitation
  • Interest rates can change without prior notice

Trade Republic Flexible saving account

Trade Republic is a German online broker that gives you access to over 9,000 stocks, ETFs, Crypto & 300,000 derivatives. It lets you create a portfolio with only €1 and allows you to invest in fractional shares. It is regulated by BaFin (Federal Financial Supervisory Authority).

Key Features:

  • A 3.75% interest rate is applied to your balance for an unlimited period
  • No minimum is required
  • Free maintenance fees on your account
  • Daily interest accruals paid monthly into your account
  • The maximum amount is €50,000
  • Interest rates can change without prior notice

Distingo Bank Livret Savings Account

Distingo Bank is a subsidiary of Banque Stellantis France (Formerly known as PSA Banque). It operates on the French Market as an online bank and offers a flexible savings account called “Livret Distingo”.

Key Features:

  • A 4% interest rate is applied to your balance for an unlimited period.
  • Free maintenance fees on your account
  • A maximum amount limitation of EUR 10,000,000
  • Deposits up to EUR 100,000 are guaranteed by “le Fonds de Garantie des Dépôts et de Résolution”.

Lightyear Flexible saving account

Lightyear is a European investment app that operates via the entity Lightyear Europe AS, authorized and regulated by the Estonian Financial Supervision Authority (EFSA – license number 4.1-1/31), with clients’ assets covered up to €20,000.

Key Features:

  • A 3.83% interest rate is applied to your balance for an unlimited period
  • No minimum is required
  • Free maintenance fees on your account
  • Daily interest accruals paid monthly into your account
  • No maximum amount limitation
  • Interest rates can change without prior notice

Wise Flexible saving account

Wise, formerly known as TransferWise, is a foreign exchange financial technology company based in the UK. It primarily targets people looking to send and receive money internationally cost-effectively. With Wise, you can hold your money in cash, stocks, or interest. By choosing the interest form, your funds will be invested in government-backed short-term loans and bank deposits, and the interest earned will be passed to you.

Key Features:

  • 3.66% interest rate paid with no period limitation.
  • Interest is paid monthly, so you can benefit from compounded interest
  • No restrictions or limits on the interest earned
  • Interest rate is variable

Interactive Brokers Flexible saving account

Interactive Brokers (IB) is a well-known brokerage company that offers trading services to retail and institutional investors. Due to its sophisticated trading features, affordable pricing, and accessibility to a wide range of financial markets, the platform is well-liked by active traders and investors. IB offers different types of accounts, including a flexible cash account.

Key Features:

  • A 3.402% interest rate is applied to your balance for an unlimited period
  • A minimum of EUR 10,000 is required
  • Free maintenance fees on your account
  • Daily interest accruals paid monthly into your account
  • No maximum amount limitation
  • Interest rates can change without prior notice

Hello Bank! Livret Savings Account

Hello Bank! is the first 100% digital online bank in Europe, as claims its owner, the French bank group BNP Paribas. It has operated since 2013 in many European Countries, including France, Belgium, Italy, and Austria. The bank offers many saving account options, including the flexible saving account “Livret Hello+”.

Key Features:

  • A 3% interest rate is applied to your balance for the first 12 months.
  • A maximum of EUR 50,000
  • Above EUR 50,000 or after 12 months, the interest rate drops to 0.50% on amounts up to EUR 50,000 and 0.60% for amounts above EUR 50,000
  • Free account maintenance fees
  • No maximum amount limitation

Fixed-term saving accounts (Comptes à terme) Reviewed

There’s a wide range of Fixed-term accounts in France, and they are available for both resident and non-resident clients. Regular and online banks promote their products, usually granting higher interest rates to attract new customers. The level of return on the fixed-term accounts depends mainly on the amount placed and the duration of the term. The fixed term may be anything from one month to five years, with different conditions applying for specific periods. 

CashbeePro fixed-term saving account

Cashbee is a French Fintech created in 2018. It’s a mobile application that offers many financial services, mainly saving accounts. It is a 100% online company that helps you manage your money fast and easily. The French Central Bank regulates it, and it provides its savings services in partnership with “My Money Bank”.

Key Features:

  • 3.40% interest rate applied on your deposit locked for 6 months (the highest in our comparison for 6 months)
  • 3.60% interest rate applied on your deposit locked for 12 months
  • Up to 3.00% interest rates are applied on your deposit locked for 3 and 5 years respectively
  • Minimum EUR 20,000 to open a fixed-term account
  • Maximum EUR 20,000,000
  • Free account maintenance fees
  • Deposits up to EUR 100,000 are guaranteed by the “Fonds de Garantie des Dépôts et de Résolution (FGDR)”
  • The account can be opened within a few seconds
  • User-friendly application
  • No access to your funds before the end of the term

Klarna fixed-term saving account

Klarna AB, the Sweden-based bank, offers competitive savings products in the French market. The freely withdrawable and the fixed-term deposits are available through the Raisin savings platform.

Key Features:

  • 3.29% interest rate applied on your deposit for 6 months 
  • 3.54% interest rate applied on your deposit for 1 year (the highest in our comparison for 12 months)
  • 3.39% interest rate paid on your balance for two years (the highest in our comparison)
  • Free maintenance fees on your account
  • Minimum EUR 500 to open a fixed-term account
  • Maximum of EUR 85,000 
  • No access to your funds before the end of the term

Boursorama fixed-term saving account

Boursorama is a French online bank and financial services company. It was founded in 1995 and is a subsidiary of Société Générale, one of the largest banking groups in France. Boursorama offers various banking services, including current accounts, savings accounts, credit cards, personal loans, and mortgages.

Key Features:

  • A 3.00% interest rate is applied to your deposit for 12 months
  • Free maintenance fees on your account
  • Minimum EUR 5,000 to open a fixed-term account
  • No Maximum amount
  • Deposits up to EUR 100,000 are guaranteed by the “Fonds de Garantie des Dépôts et de Résolution (FGDR).”
  • No access to your funds before the end of the term

Younited fixed-term saving account

Formerly known as Younited Credit, this bank is a 100% online bank and lending platform. Founded in 2009, it specialises in consumer loans and financing solutions. The bank offers a digital platform allowing customers to apply for and manage loans conveniently and to open current and savings accounts within a few minutes. The fixed-term deposits are available through the Raisin savings platform.

Key Features:

  • 3.00% interest rate applied on your deposit for 12 months
  • 3.75% interest rate applied on your deposit for 2 years 
  • Up to 2.55 on your deposit over 2 years
  • Free maintenance fees on your account
  • Minimum EUR 2,000 to open a fixed-term account
  • Maximum EUR 100,000
  • Deposits up to EUR 100,000 are guaranteed by the “Fonds de Garantie des Dépôts et de Résolution (FGDR).”
  • No access to your funds before the end of the term

Distingo fixed-term saving account

Distingo offers savings accounts and deposit products to individuals in France. It focuses on providing customers with competitive interest rates and attractive savings options. Distingo operates primarily online, allowing customers to manage their accounts and transact through their website or mobile app.

Key Features:

  • A 3.50% interest rate applied to your deposit for 12 months
  • Free maintenance fees on your account
  • Minimum EUR 5,000 to open a fixed-term account
  • No Maximum amount
  • Deposits up to EUR 100,000 are guaranteed by the “Fonds de Garantie des Dépôts et de Résolution (FGDR).”
  • No access to your funds before the end of the term

Monabanq fixed-term saving account

Monabanq is a French online bank primarily serving individual customers and offering various banking services and products. As an online bank, Monabanq provides a digital platform that allows customers to access and manage their accounts online or through a mobile app. The bank’s fixed-term deposit account is ideal for small investors.

Key Features:

  • 2.10% interest rate applied on your deposit for 12 months
  • 2.40% interest rate applied on your deposit for 2 years 
  • up to 4.80% interest rates are applied on your deposit locked for over 2 years
  • Free maintenance fees on your account
  • Minimum EUR 3,000 to open a fixed-term account
  • Maximum EUR 25,000
  • Deposits up to EUR 100,000 are guaranteed by the “Fonds de Garantie des Dépôts et de Résolution (FGDR).”
  • No access to your funds before the end of the term

How to Open a Savings Account in France

A savings account in France can be opened online or by physically visiting a branch. Many people prefer online banks for their fast and easy procedures. Doing it physically can be time-consuming since many banks request a lot of paperwork, and making an appointment can take several weeks. It all depends on the type of account you want and your chosen bank. In general, you need to follow these steps to open a savings account in France:

1. Choose your bank or Provider: Don’t limit yourself to traditional banks; you can search for online banks as well, for they may sometimes offer better and more adequate account conditions. If you choose a traditional bank, try to make an appointment in advance.

2. Gather the required documents: These can differ between a bank and another however, the main documents are:

  • Valid identification document (passport or national ID card)
  • Proof of address (utility bill, rental agreement, or bank statement)
  • Proof of income (recent pay slips, tax documents, or employment contract)

3. Visit the bank or apply online: With some banks, you can start the application online and complete it at the branch.

4. Fill out the application: by providing personal details, contact information, and other necessary fields depending on the type of savings account you wish to open.

5. Review and sign the contract: after carefully reading the terms and conditions (term period, interest rate, applicable fees, etc.)

6. Wait for the bank to open your account: send you your details(Relevé d’identité bancaire)

7. Deposit funds: Once opened, you must deposit funds to activate your account.

8. Access and manage your account: through online banking, mobile apps, or by visiting your branch or ATM.

Final thoughts

Careful examination of various aspects, including interest rates, fees, accessibility, and customer service, is necessary when selecting the ideal savings account. Before choosing from the many possibilities available, evaluating your financial needs and aspirations is crucial.

Your greatest savings account will ultimately rely on your unique needs and preferences. Spend some time investigating and contrasting the various banks’ products, considering their financial advantages and the level of convenience they offer.

We hope this article will help you research the best saving account in France that aligns with your goals and long-term saving objectives.

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About the author
Maya Chidiac
Contributor

Forex and Money Market Senior dealer. Financial Markets, Banking and Finance Expert.

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