Nothing can stop the crazy race of the Livret A which records a new savings record in February 2021.
A record amount on the French Livret A
The health crisis is gradually transforming the French into little squirrels who put aside to face difficult times. In February 2021, the amount saved by the French on their Livret A signs a new record. The Caisse des Dépôts published on Tuesday March 23, 2021 the amount of savings garnered by the French for the month of February 2021.
So these are 2.9 billion euros which were placed in February on Livrets A. A considerable sum which beats the previous record set for this month. February 2021 thus dethrones February 2009, which until now held the title with 2.4 billion euros saved. The good results of February 2009 could then be explained by the marketing of the Livret A in all banking establishments. Before 2009, the Livret A was only offered by La Banque Postale and the Caisses d’Epargne network.
The Livret A, a safe investment that pays little
Cumulative net revenue for the first two months of 2021 reached more than nine billion euros against five billion euros for the same period in 2020. The Livret A therefore has enjoyed unparalleled fame since the start of the pandemic, so even that the the latter’s interest rate is historically low, 0.5%. In 2020, annual collection was twice the average and reached 26 billion euros.
The Livret A is not the only bank savings product to attract the French. The Sustainable and Solidarity Development Booklet (LDDS) raised 910 million euros during the month of February 2021, double compared to 2020. The savings accumulated by the two savings accounts have increased by 10% in one year.