Interest rates on deposits 2023Jan

Interest rates on bank deposits keep growing in January


  • The average remuneration of bank deposits rises by 9 basis points in January to 1.04%, crossing the symbolic 1% threshold for the first time since 2015.

  • The increase is more pronounced for NFC deposits, whose remuneration stands at 0.76% after 0.60% in December.

  • The household deposit rate is 1.23% in January, after 1.18% in December.

Interest rates on outstanding amounts of deposits in percentage and seasonally adjusted (a)

Outstanding amount (EUR bl) Remuneration rate
Jan- 2023 (g) Jan- 2022 Nov- 2022 Dec- 2022 (f) Jan- 2023 (g)
Bank deposits (b) 3,130 0.40 0.88 0.95 1.04
of which Households 1,851 0.62 1.17 1.18 1.23
- overnight deposits 612 0.01 0.02 0.03 0.03
- deposits with agreed maturity up to 2 years (h) 20 0.38 1.31 1.67 2.00
- deposits with agreed maturity over 2 years (h) 60 0.75 0.74 0.80 0.93
- regulated savings deposits (c) 604 0.52 2.16 2.17 2.17
which : passbooks A 351 0.50 2.00 2.00 2.00
- ordinary savings passbooks 273 0.09 0.33 0.33 0.45
- home savings plans 282 2.54 2.57 2.57 2.58
of which NFC 879 0.09 0.45 0.60 0.76
- overnight deposits 620 0.04 0.17 0.21 0.24
- deposits with agreed maturity up to 2 years (h) 203 0.13 1.30 1.68 2.08
- deposits with agreed maturity over 2 years (h) 56 0.62 1.09 1.41 1.74
For information :
Minimum bid rate in the Eurosystem tenders 0.00 2.00 2.50 2.50
3-month Euribor (d) -0.56 1.83 2.06 2.35
Performance of the Constant Maturity Rate of 5 years (d), (e) -0.21 2.27 2.36 2.52
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
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%
Source: BANQUE DE FRANCE - DIRECTION GÉNÉRALE DES STATISTIQUES, DES ÉTUDES ET DE L'INTERNATIONAL
More information on: long series, calendar, methodology

All statistical time series published by the Banque de France can be accessed on Webstat Banque de France

Publication available on mobile devices : Apple and Android
STAT INFO - January 2023
Interest rates on bank deposits
Contact Stat Info
Download the PDF version of the document