LIVERET A

[Philouis]

Am I right in thinking that to open a Liveret A with La Poste,  all you need in the way of documentation is your passport and a utility bill?

[Clair]

This is usually the case, but I suggest taking a copy of your local tax bill or such-like, just in case...

Other banks will offer the Livret A from January.

See here for details: http://www.completefrance.com/cs/forums/1395257/ShowPost.aspx

[Belle]

we opened a Liveret A account yesterday with Credit Agricole, they are offering 5,60 till 31st of december, then 4% after that.

[YCCMB]

I expect, like so many other things, that it might vary from branch to branch, but when I went to La Poste to enquire about opening an account (not getting a Livret A) the lady I spoke to said that for English clients of the female persuasion, a marriage certificate was also required, due to the fact that if you happen to have taken your husband's name there's no record of your maiden name (which remains your "legal" name in France) in your passport.

[milkeybar kid]

[quote user="Belle"]we opened a Liveret A account yesterday with Credit Agricole, they are offering 5,60 till 31st of december, then 4% after that.[/quote]

Belle,can u confirm or otherwise please, - when I went last week to make enquiries to the post office the lady explained to be carefull with the offer ar Credit Ag as the bit they offer over the4% of the Liveret A is a carrot and  is taxable, so I went for chat at Credit ag and again if I had understood yes, that little extra they offer is taxable- and has to be declared! Like u we are going to open one but will keep with the Post Office as we are trying to spread funds so as not to have all eggs in one basket .[:D] Mrs MBK

[Clair]

The rate Belle is quoting is a hook rate, to encourage new accounts as per my link earlier.

The interest rate on the Livret A is regulated and not taxable.

Like other banks, the CA cannot offer the Livret A until 01/01/09 and any interest earned before that date will be treated as unearned income, subject to income tax and social contributions.

However, the amount earned in the period to 01/01/09 will be minimal.

[giantpanda]

[quote user="Belle"]we opened a Liveret A account yesterday with Credit Agricole, they are offering 5,60 till 31st of december, then 4% after that.[/quote]

Hi!

Just to avoid confusion, what you have till 31.12.2008, is NOT a livret A, but a special intermediate contract.

The Credit Lyonnais even offers 8% till end of year.

Yours,

giantpanda

[giantpanda]

[quote user="Belle"]we opened a Liveret A account yesterday with Credit Agricole, they are offering 5,60 till 31st of december, then 4% after that.[/quote]

Hi!

Just to avoid confusion, what you have till 31.12.2008, is NOT a livret A, but a special intermediate contract.

The Credit Lyonnais even offers 8% till end of year.

Yours,

giantpanda

PS. The interest till end of year is subject to 27% charges, so that boils down to a real 4.088%

[milkeybar kid]

Thank you giantpanda, I now understand better what the post office was getting at,now off to open account at Post Office- for an easy life.[:D]Mrs MBK

[woody234]

what is a LIVERET A account

[giantpanda]

Hi!

NB. At present, you can open it, also at the following banks : The Name varies Livret Bleu or Livret A.

La Poste

Caisse d'Epargne

Credit Mutuel

It will be available from 1.1.2009 at all finacial firms;

Most banks at present offer a sort of precontract at apparently attractive interest form 5% to 8% LCL ). Ie. The idea is to get your money now, and open then the Livret A per 1.1.2009.

NB. On the interest paid on these precontracts, you will pay 27% taxes.

Yet better is the LEP (Livret d'Epargne Populaire), but that is means tested: You have to bring your Avis d'Impostion 2007, and have had to pay less than Euro 732 income tax. The money is available on a day to day basis.

The sum is limited per person ( for a couple 2 contracts ) to euro 7700 savings - the tax free interest is at present 4.5% 5 could go up end of year ).

You can get it at any bank or La Poste. If you have no account at La Poste, it is better to do it at your bank, because you can then easily make internal transfers to current account, so easier to handle.

Yours,

giantpanda

[suein56]

[quote user="woody234"]what is a LIVERET A account[/quote]

It is a tax free savings account; you can open one per person and the maximum you can put into it is 15300€. Yesterday the interest was 4% but I feel it might drop to 3.5% following the fall in rates announced by the European finance people on Wednesday.

Sue