Livret A sees first net outflow in a decade as savers turn elsewhere

Thursday 22 January 2026 - 11:20

By: Sahili Aya

Livret A sees first net outflow in a decade as savers turn elsewhere

For the first time in ten years, France’s popular Livret A savings account saw more withdrawals than deposits in 2025, according to data from the Caisse des Dépôts. Net outflows totaled €2.12 billion, marking a significant shift for the long-favored savings vehicle.

The Livret A, a low-risk and highly liquid investment, has seen its interest rate steadily decline—from 3% in January 2025 to 1.7% currently, and possibly 1.5% as of February 1, 2026. Economists note that this decrease in attractiveness has prompted savers to explore alternative avenues.

Paradoxically, French households continue to save at historically high levels, with the national savings rate reaching 18.4% in the third quarter of 2025. The main beneficiary has been the euro-denominated life insurance funds, offering returns between 3.5% and 4% before taxes, significantly higher than the Livret A.

Since 2009, when statistics on Livret A began, the account has experienced only three annual net outflows: in 2014 (–€6.13 billion), 2015, and now 2025. Analysts highlight that the 2025 result represents a break from several years of strong growth, including a record €28.68 billion inflow in 2023 and €14.87 billion in 2024.