Savings account or bank savings book

Verified 04 November 2020 - Directorate for Legal and Administrative Information (Prime Minister)

The savings account or savings book is a bank account to keep your savings. The money you deposit into this type of account generates interest, but you can withdraw the money at any time. The conditions for opening and operating the savings account are not regulated. There is no tax advantage for the interest it generates.

The savings book is a bank account that is not used for everyday life operations, such as paying bills and shopping in stores.

It's used to shelter some of your money, to save money.

The savings account provides you with interest on the money deposited, while allowing you to withdraw it if needed. The interest is calculated according to the duration of the sums remaining in the account, and according to a schedule provided at the time of subscription.

The savings book is also called bank savings book, because it is the financial institutions that determine its conditions, in accordance with the principle of freedom of contract.

The Bank Savings Book differs from regulated savings books, the main characteristics of which are set by the public authorities.

There are 2 types of bank book:

  • Classic bank book
  • Super livret, which has a higher interest rate, but over a short period of time.

To open a savings account, you must sign a contract with a banking or financial organization.

The advisor must first explain how the account works.

The contract shall inform you in particular of the following points:

  • Deposit and withdrawal rules (minimum deposit amount, value of deposits and withdrawals)
  • Remuneration (interest rate based on duration, criteria for calculating and paying interest, etc.)

Unlike regulated books, there is no deposit limit or maximum amount that can be exceeded for savings books.

The interest rates on savings books are set freely by the banking institutions. They shall inform the customers thereof at the time of subscription. These interest rates are referred to as gross rates, because they do not take into account the impact of taxation on the returns made by customers.

Interest is calculated on 1er and the 16th of each month, as in booklet A.

The date of the value taken into account for the calculation of interest varies according to the date of the transaction (deposit or withdrawal):

Tableau - Date of the value taken into account for the calculation of interest according to the date of the transaction


Until the 15th of the current month

From the 16th of the current month


16 of the same month

1er day of the following month


Last day of previous month

15 of the month

The sums deposited bear interest if they are invested in whole fortnight.

On December 31 of each year, the interest accrued on the year is added to the capital.

The interest generated by the bank savings book is subject to income tax (category of income from movable capital) and social security contributions.