Savings rates from French banks

[oldgit72]

Is there anywhere on the web wher I can find out the best deals on offer on savings interest rates in France similar to the likes of moneysupermarket.com for UK savings rates?

[Roz]

I too would be interested in knowing the answer to this question... I've been trying to find the current interest rates on a Livret A with Credit Agricole.  The website explains all about them without saying what the rates actually are.  Can different banks offer different rates on Livrets or is it set in stone for all of them?

 Could any kind soul volunteer a sensible phrase for me to use if I tried phoning?  How does this google translation sound? "Quel est le taux d'intérêt en cours sur un compte Livret A,  s.v.p.?" 

[Sunday Driver]

The interest on Livret A accounts is determined by the government and is set twice a year, taking effect on 1 February and 1 August of each year. The rate announced for 1 February 2010 is 1.25%.

 

 

[Roz]

Thanks for such a speedy response SD! 

[danny]

Caisse d'epargne are offering 4% on an assurance vie contract guaranteed for 2010. I normally take one out at the start of each year and then cash them in at the end of the year. The charge for setting them up is generally between 0.75 and 0.25% depending on the sums one invests, the higher the sum the lower the charge. Just make sure that you ask for no tax and social security to be deducted other wise you can lose up to 47% of the interest earned. The the following year just delclare the income on your tax return as normal.

[parsnips]

[quote user="danny"]Caisse d'epargne are offering 4% on an assurance vie contract guaranteed for 2010. I normally take one out at the start of each year and then cash them in at the end of the year. The charge for setting them up is generally between 0.75 and 0.25% depending on the sums one invests, the higher the sum the lower the charge. Just make sure that you ask for no tax and social security to be deducted other wise you can lose up to 47% of the interest earned. The the following year just delclare the income on your tax return as normal.

[/quote]

Hi,

      Why don't you let the contract run, pay in each year and just draw what you want, when you want it? Life assurance gets more tax-efficient with time , after 8 years you get about 9000€ pa tax free withdrawal (for a couple).

[danny]

W took out two assurance Vie contracts with the bank, first year a guaranteed 5% (2009) the the next guaranteed rate was 1.75%, so we sold and got 4% guaranteed for 2010 when we bought the new one.

[parsnips]

[quote user="danny"]W took out two assurance Vie contracts with the bank, first year a guaranteed 5% (2009) the the next guaranteed rate was 1.75%, so we sold and got 4% guaranteed for 2010 when we bought the new one.

[/quote]

Hi,

      The "guaranteed" rate quoted at the start of the year is a "minimum guarantee" which is always much lower than the ultimate rate paid for the year. The figures you have been quoted are probably part of the marketing strategy, to attract new clients.

[danny]

Agreed; however we have other policies with another bank and have been very disappointed with the returns. One such policy started at 5.5% and each year has fallen, last year the minimum guaranteed was 2.25% the final figure was a meagre 2.75% and that was for the 5th year. This year the figure guaranteed is again 2.25%. I suspect that we should have gone with a pure assurance company.

[acooshe]

Removed by Mod

[acooshe]

Removed by Mod

[suej]

[quote user="Roz"]I too would be interested in knowing the answer to this question... I've been trying to find the current interest rates on a Livret A with Credit Agricole.  The website explains all about them without saying what the rates actually are.  Can different banks offer different rates on Livrets or is it set in stone for all of them?
 Could any kind soul volunteer a sensible phrase for me to use if I tried phoning?  How does this google translation sound? "Quel est le taux d'intérêt en cours sur un compte Livret A,  s.v.p.?" 
[/quote]

 

 Credit Agricole have an English speaking department for English speakers wanting to open savings accounts- I know because  just last  Friday I spoke to a very pleasant and informative young Englishman there!  Lots of info about various savings accounts and interest rates etc  and online stuff too and  he managed to explain the difference between Livret A and LEP accounts..

The telephone number for the Anjou-Maine  office is   02 41 79 53 13   

 I'm sure they would give you the appropriate number  for a diiferent region    

Good luck, Sue       

 

 

[Herry00]

You must contact with the bank only as they will give you variet of options.