Booklet A down, PEL up: The big mess of your savings in 2026

The essentials to remember: the yield of liquid savings will mechanically decrease early 2026, the rate of Book A going towards a range of 1.35% to 1.50%. While SARA will retain its status as a safe haven, the new LEPs opened as early as January will have a competitive rate of 2%, encouraging diversification of its resources to counter monetary erosion.

You may be afraid of seeing the performance of your liquidity eroded with the adjustment of the savings book rate 2026, which is projected for the beginning of the year. This fear is justified because the slowdown in inflation mechanically causes the decline in the yield of Book A, while the ELP follows a different path by improving its conditions for new subscribers. We analyze here the new calculation rules and the precise rates that will apply to allow you toEffectively arbitrate your regulated savings before the entry into force of those measures.

Booklet A and LDDS: the rate could fall to 1.5% in February 2026

Rate projection for February 2026

Get ready, because the remuneration of your precautionary savings may erode on February 1, 2026. While the rate had been set at 1.7% since August 2025, current indicators suggest that the new rate will likely fluctuate between 1.40% and 1.50%,. The LDDS will mechanically align with this scale, with the official verdict expected by mid-January.

Why the drop? It is mathematical: the sharp slowdown in price increases weighs heavily in the balance. Experts estimate annual inflation by the end of 2025 around 0.9 % to 1.0 %, which inevitably pulls the formula down

However, the state keeps a card in its sleeve: it can derogate from the rule to smooth down, as it has done in the past, but no official signal guarantees this boost for now

Understand the calculation mechanics and evolution over the year

The rate applied is the result of a biannual average of two financial indicators. It is this precise mechanism that allows understanding the functioning of interest rates and anticipate future movements of your capital.

Specifically, the Bank of France observes the following data:

• Average non-smoking inflation over the last six months (estimated around 1.017 %)
• Average short-term interbank rates (€STR), which are around 1.90 % to 1.92 %

What about the 2026 suite? A second revision will take place in August 2026. Contrary to expectations of rebound, the trend remains uncertain. If inflation does not go back, some experts warn that the rate could even go below the 1.5% mark by the end of the year. It is therefore better to anticipate a long-term low remuneration for your regulated savings.

SARA and ELP: Differing trajectories for 2026

SARA: a declining but unbeatable yield

The Popular Savings Booklet will be adjusted downwards on February 1, 2026. Its calculation formula remains indexed to inflation, a correction is inevitable. According to estimates, expect a rate of 1.9% and 2.3% (compared to 2.7% at the end of 2025).

However, this product remains the best-performing risk-free investment on the market. It continues to effectively protect your purchasing power, where other books struggle to keep up with inflation.

Remember that access remains subject to a strict revenue ceiling (RFR less than 22,419) € and that payments are limited to 10 000 €.

The ELP: new for the plans opened in 2026

The Housing Savings Plan becomes more attractive for any opening on January 1. The rate of pay thus increases to 2.00 % gross (compared to 1.75 per cent in 2025). This is a significant increase for savers looking for a guaranteed rate over 15 years.

Attention, this revalorisation relates exclusively to the new ELPs subscribed on that date. Fortunately, your old plans retain their original contractual rate.

In return, the associated loan rate now stands at 3,20 %. This borrowing cost will remain frozen for the duration of the future credit. Tip: Keep your old contracts (opened before 2018 in particular) that can offer higher returns or missing tax benefits. Do not close them without thinking.

What concrete impact on your savings?

These rate changes may seem abstract on paper, but their effect on the real return of your money in bank is immediate.

Calculating your future interests: numerical examples

To make things clearer, let us take a simple example: 10 000 € placed for one year. It is often the psychological threshold to visualize the real impact.

The loss of yield on Book A and SARA is mechanical. For a Book A on the ceiling (22 950) €), the loss of profits exceeds 45 € per year. It should be noted, however, that although SARA declines (probably around 1.9% – 2.3%), it still reports significantly more than Book A. For the ELP, the gain appears tangible (+25 €). But be careful: the interests of the ELP are taxed (30% of Flat Tax). The 200 € raw become 140 € net, less than Book A. Its main asset therefore remains the right to the real estate loan, not its pure yield.

What these changes mean to you

Summarize the main idea: Precautionary savings will be lower in 2026. Money sleeping on a Book A will lose its attraction to inflation, even if it remains moderate

• Your Booklet A and LDDS will earn less: They become simple cash tools to limit to 3 or 4 months of current expenditure.
• Your SARA will remain the best bulwark: If you are eligible, this is the only secure booklet that still offers a significant real return.
• The ELP finds colors: Opening a new plan becomes more interesting to block a borrowing rate, but not to look for pure performance.

This low-rate context on regulated livret raises questions about its own financial management. It's not a question of changing everything at a glance, but of understanding that safety now has a price: low yield. To make your money grow beyond inflation, you will have to look elsewhere (life insurance, SCPI, etc.)

What options can be considered in this new context?

The game: booklet A at 1.50% against « super booklets » Taxed

Faced with the future rate of the Booklet A estimated between 1.40% and 1.50%, taxed bank books return in the race. These « super booklets » you deserve your attention to boost a cash that sleeps beyond your ceilings.

Do the calculation (but pay attention to the duration!)
An offer to 3,5 % or 4 % gross, an amputation of the flat tax of 30%, serves a net yield of 2.45% to 2.80%.
It's mathematical: you earn significantly more than the regulated Booklet.

However, vigilance must be exercised:
These rates are often Limited promotional offers (2 to 3 months).
Once the period has passed, the rate is often about 2.00 per cent gross (i.e. 1.40% net), which is hardly equivalent to Book A.

Before signing, check:

1. What is the duration of the boosted rate and what is the base rate then?

2. What is the payment ceiling (often much higher than Book A)?

3. Does capital remain available without penalty?

The strategy for your existing investments

The strategy for your existing investments
Don't empty your accounts on a head start. Your precautionary savings (3 to 6 months of expenditure) must be kept on fully liquid media such as the SARA (always unbeatable despite decline) or Book A. Their primary function is safety, not absolute performance.

Look especially at the former PEL. Those opened before 2011/2015, with guaranteed rates sometimes exceeding 2.50% or 3%, are treasures to be kept absolutely. Unlike the booklets, their rate will not decrease.

The end word:
Faced with these adjustments, the regulated savings landscape changed significantly in 2026.

• Booklet A and SARA : They see their pay cut but remain indispensable for safety.

• New ELP (2026) : They regain interest in block a borrowing rate, but with a net return of 1.40%, they do not beat inflation for pure savings.

It is now up to you to arbitrate: keep security on the Book A, but for performance, target the Super Booklets (active) orLife insurance for the medium term. In short, the right strategy depends on your situation. Take the time to compare choose where to place your savings based on your plans and time horizon.

FAQ

What rate can you expect for Book A in 2026?

Based on current economic projections, Book A rate is expected to fall significantly 1 February 2026, probably between 1.35% and 1.50%. This decrease is the result of the mechanical application of the calculation formula, which takes into account the sharp slowdown in inflation estimated at around 0.9% at the end of 2025, as well as the average interbank rates.

Will the ELP rate increase in 2026?

Oui, the rate of pay of the Housing Savings Plan (LSP) will increase, but this concerns only plans opened from 1 January 2026. For these new subscriptions, the rate will be increased to 2.0% gross, compared with 1.50% previously, with a net return of 1.40 % after application of the single flat-rate levy (SRP). It is important to note that already open LEPs retain their original contractual rate and are not affected by this increase.

What will be the interest rates of the regulated books in 2026?

The year 2026 marks a divergence in interest rates. While Booklet A and LDDS are expected to see their earnings decline to around 1.40%, the Popular Savings Booklet (LPL) is also expected to decline while remaining the most protective placement, with an estimated rate of 2.40% to 2.50%. This general downward trend is explained by the control of inflation, which mechanically reduces the yield of products indexed to price increases.

What savings product will his earnings increase in 2026?

Unlike precautionary booklets such as Book A or SARA, which suffer from disinflation, this is the new ELP which constitutes the exception with an increase in its rate. En passant à 2,00 % brut pour les ouvertures réalisées dès le début de l’année, il redevient une option à considérer pour l’épargne de moyen terme, d’autant que ce taux est garanti pendant 15 ans, contrairement aux livrets dont les taux sont révisables semestriellement.

How will the value of Book A change between 2025 and 2026?

La rémunération du Livret A, qui s’établit à 1,70 % sur la seconde moitié de l’année 2025, sert de point de référence avant la révision prévue pour février 2026. Le passage probable à un taux proche de 1,40 % en début d’année 2026 matérialisera une perte de rendement pour les épargnants, bien que le taux réel (déduction faite de l’inflation) reste positif grâce à la faiblesse de la hausse des prix.