The new article from Jennie Poate, Siddall's Regional Manager

French Savings & Investments

Bank Accounts

French banks offer current accounts,“Comptes Courants”, instant access savings accounts, “Comptes sur Livret”, and fixed term deposits, offering better interest rates for over one month, “Comptes à Terme”. For large amounts a “Certificat de Dépôt Négotiable” can offer slightly improved interest and a shorter term if necessary.

For French residents, there are also various tax-free bank deposit accounts. The most common are the 'Livret A' and the 'Livret de Développement Durable' (LDD).

The maximum investment per person, plus accrued interest, is €22,950 for the ‘Livret A’ and €12,000 for the ‘LDD’.

The general conditions of the accounts are the same and are regulated by the government. Interest is totally tax free and, the annual interest rate is 1.75%. Rates are generally reviewed on a six-monthly basis.

Read more......Tax and Financial Advice