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Less known than the Livret A, the popular savings account (THE P) is interesting for modest incomes. The journalist Katherine Flushing explains how it works on the set of 19/20, Friday May 13.
For the most modest households, the People’s Savings Account (THE P) can be interesting. “55 million people in France hold a Livret A, compared to 7 million for the Livret d’épargne populaire, while 15 million French people are eligible for it”explains journalist Catherine Flushingon the set of 19/20, Friday May 13. However, it is as easy to use as a Livret A and pays more.
“Since February 1, the annual interest rate of the Livret A is at 1%, that of the Livret d’épargne populaire is at 2.2%, i.e. more than double”, continues the journalist. The interest received is fully tax-exempt, but the maximum amount of the LEP is 7,700 euros. “The Popular Savings Account is reserved for certain incomes. Concretely, for a single person, you should not earn more than 1,691 euros net per month. For a family with two children, no more than 3,500 euros net per month”, concludes Catherine Flushing.
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