The cap on the popular savings account increased to EUR 10 000 on 1 October

Publié le 29 septembre 2023 - Legal and Administrative Information Directorate (Prime Minister)

The government-regulated Saving People’s Book (SMP) is reserved for adults with modest incomes. A decree issued in Official Journal 29 September 2023 indicates that the SMP ceiling will be increased from €7 700 to €10 000 from 1er October.

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Image 1Crédits: NOBU -

The popular savings book has a pay rate of 6% since 1er August 2023 and until January 31, 2024. This rate is set by the State.

Interest paid on a SMP is exempt from income tax and social security contributions. This interest is added to existing savings on December 31 of each year, including when the ceiling is reached.

According to the Banque de France’s 2022 annual report on regulated savings, published in July 2023, 47% of people’s savings books had exceeded the regulatory ceiling then set at €7,700. From 1er In October, it will therefore be possible to pay money into the SMP until it has been reached €10,000.

Please note

when opening a SMP, you must pay a minimum amount of 30 € into the account. Then, withdrawals are possible without constraint. Payments are also free.

Clarification of the concept of a ceiling

The Decree of 29 September 2023 also clarified the concept of a ‘ceiling’ for the popular savings account. It states that “the existing logic for the Popular Savings Book is identical to that for the Livret A and the Livret de développement durable et solidarité (LDDS): when the balance of the account on the Popular Savings Book is greater than or equal to the regulatory ceiling, any additional payment is prohibited”.

The capitalization of interest is therefore taken into account with regard to the attainment of the regulatory ceiling. Even if your SMP reaches or exceeds €10,000 as a result of interest payments, you can no longer deposit money there.


the opening of a popular savings book is subject to means-testing.

A person can have only one SMP, and one tax shelter two (one booklet for you and the other for your Civil partnership or partner).