Interest rates on deposits 2023Nov
Published on 5 January 2024
- The average interest rate on bank deposits continues to rise at 1.77% in November, up from 1.73% in October. It stood at 0.88% in November 2022.
Interest rates on outstanding amounts of deposits in percentage and seasonally adjusted (a)
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| Outstanding amount (EUR bl) | Remuneration rate | ||||
| Nov- 2023 (g) | Nov- 2022 | Sep- 2023 | Oct- 2023 (f) | Nov- 2023 (g) | |
| Bank deposits (b) | 3,088 | 0.88 | 1.67 | 1.73 | 1.77 |
| of which Households | 1,846 | 1.17 | 1.76 | 1.79 | 1.83 |
| - overnight deposits | 561 | 0.02 | 0.05 | 0.06 | 0.05 |
| - deposits with agreed maturity up to 2 years (h) | 69 | 1.31 | 3.31 | 3.38 | 3.46 |
| - deposits with agreed maturity over 2 years (h) | 77 | 0.76 | 1.59 | 1.69 | 1.79 |
| - regulated savings deposits (c) | 647 | 2.16 | 3.22 | 3.25 | 3.26 |
| which : passbooks A | 368 | 2.00 | 3.00 | 3.00 | 3.00 |
| - ordinary savings passbooks | 237 | 0.33 | 0.77 | 0.82 | 0.83 |
| - home savings plans | 254 | 2.57 | 2.60 | 2.60 | 2.60 |
| of which NFC | 874 | 0.45 | 1.61 | 1.71 | 1.78 |
| - overnight deposits | 548 | 0.17 | 0.63 | 0.67 | 0.71 |
| - deposits with agreed maturity up to 2 years (h) | 267 | 1.29 | 3.45 | 3.53 | 3.71 |
| - deposits with agreed maturity over 2 years (h) | 60 | 1.10 | 2.87 | 2.98 | 3.06 |
| For information : | |||||
| Minimum bid rate in the Eurosystem tenders | 2.00 | 4.25 | 4.50 | 4.50 | |
| 3-month Euribor (d) | 1.83 | 3.88 | 3.97 | 3.97 | |
| Performance of the Constant Maturity Rate of 2 years (d), (e) | 2.22 | 3.29 | 3.29 | 3.09 | |
| Performance of the Constant Maturity Rate of 5 years (d), (e) | 2.27 | 3.04 | 3.15 | 2.91 | |
Note: Due to rounding, the sum may differ slightly from the total of the components
a. Interest rates presented here are effective rates calculated by dividing the accrued interest flows for the months under review by the monthly averages of the corresponding outstanding amounts. For the different types of deposits, including step-up deposits, they correspond to the average conditions practiced during the month under review by the French credit institutions on deposits of non-financial corporations and households (including non-profit institutions serving households) residents.
b. In addition to the households' and NFC's deposits, the global deposits remuneration rate includes other money-holding sectors (other general government, insurance corporations, non-monetary market funds, investment funds and securitization vehicle)
c. Regulated rates passbooks include passbooks A, blue passbooks, sustainable development passbooks, home savings plans, youth passbooks and people's savings passbooks.
d. Monthly averages.
e. 5 years Constant Maturity Rate. Source: French Bond Association.
f. Revised data.
g. Provisional data.
h. Including taxed saving books, other special saving accounts, people saving plans (PEP) and subordinated loans
a. Interest rates presented here are effective rates calculated by dividing the accrued interest flows for the months under review by the monthly averages of the corresponding outstanding amounts. For the different types of deposits, including step-up deposits, they correspond to the average conditions practiced during the month under review by the French credit institutions on deposits of non-financial corporations and households (including non-profit institutions serving households) residents.
b. In addition to the households' and NFC's deposits, the global deposits remuneration rate includes other money-holding sectors (other general government, insurance corporations, non-monetary market funds, investment funds and securitization vehicle)
c. Regulated rates passbooks include passbooks A, blue passbooks, sustainable development passbooks, home savings plans, youth passbooks and people's savings passbooks.
d. Monthly averages.
e. 5 years Constant Maturity Rate. Source: French Bond Association.
f. Revised data.
g. Provisional data.
h. Including taxed saving books, other special saving accounts, people saving plans (PEP) and subordinated loans
Remuneration on deposits with monetary financial institutions
Households and NFC's deposits (in %)
Households and NFC's deposits with agreed maturity by duration (in %)
Passbooks A and Ordinary savings passbooks
(in %)
Home savings plans PEL
(in %)
* The regulatory formula of the rate of the PEL (home savings plans)
is the maximum of the following two terms:
- 70% 5-year swap rate + 30% (10-year swap rate - 2-year swap rate), rounded up to the nearest 1/4 percentage point,
- 1%
is the maximum of the following two terms:
- 70% 5-year swap rate + 30% (10-year swap rate - 2-year swap rate), rounded up to the nearest 1/4 percentage point,
- 1%
Source: BANQUE DE FRANCE - DIRECTION GÉNÉRALE DES STATISTIQUES, DES ÉTUDES ET DE L'INTERNATIONAL
Download the PDF version of the document
TAU_REM_DEP_BAN_2277_en__SI-TauxInteretDepots_202311_EN.pdf