Interest rates on deposits 2020Dec

Published on 02/04/2021
The average interest rate on bank deposits is stable in December

In December 2020, the average interest rate on bank deposits was 0.46%. This rate decreased by 12 basis points between December 2019 (0.58%) and August 2020 (0.46%) and has remained unchanged since then. This year-on-year decline is mainly attributable to the change in the Livret A passbook savings account rate in February 2020 (0.75% to 0.5%) as well as lower interest paid on deposits with agreed maturity (for both households and NFCs).

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

Dec- 2019 Oct- 2020 Nov- 2020 (e) Dec- 2020 (f)
Average interest rates on bank deposits 0.58 0.46 0.46 0.46
Households 0.82 0.68 0.68 0.67
of which : - overnight deposits 0.02 0.02 0.02 0.02
- accounts with agreed maturity up to 2 years (g) 0.71 0.54 0.53 0.51
- accounts with agreed maturity over 2 years (g) 1.26 1.04 1.03 1.01
- regulated savings accounts (b) 0.78 0.53 0.53 0.53
of which : passbooks A 0.75 0.50 0.50 0.50
- ordinary savings passbooks 0.16 0.12 0.12 0.12
- home savings plans 2.65 2.62 2.62 2.61
NFC 0.22 0.17 0.16 0.16
of which : - overnight deposits 0.10 0.09 0.08 0.08
- accounts with agreed maturity up to 2 years (g) 0.22 0.16 0.17 0.15
- accounts with agreed maturity over 2 years (g) 1.09 0.96 0.93 0.92
For information :
minimum bid rate in the Eurosystem tenders 0.00 0.00 0.00 0.00
3-month Euribor (c) -0.40 -0.51 -0.52 -0.54
performance of the Constant Maturity Rate of 5 years (c), (d) -0.40 -0.65 -0.65 -0.66
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. Regulated rates passbooks include passbooks A, blue passbooks, sustainable development passbooks, home savings plans, youth passbooks and people's savings passbooks.
c. Monthly averages.
d. 5 years Constant Maturity Rate. Source: French Bond Association.
e. Revised data.
f. Provisional data.
g. 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

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STAT INFO - December 2020
Interest rates on bank deposits
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Interest rates on deposits
  • Published on 02/04/2021
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Published on Thursday, February 4, 2021