Higher Returns Guaranteed: Outperform Booklet A with Enhanced Interest Rates Offered by This Bank
Are you sick of the paltry Livret A yields? Look no further, because some exciting new options are popping up! Cashbee, a fresh fintech player, has upped the ante with a beefed-up 6% rate – that's right, six whole percentage points! This beats the Livret A hands down, offering a potentially better net yield for you.
So, what's the deal with this Cashbee savings book? In a cruel blow to the Livret A, which experienced its worst collection month in nearly a decade back in March (only raking in 400 million EUR compared to 1.53 billion EUR a year prior), Cashbee could be the answer to your savings woes. Their new 1.9% regular rate is looking pretty promising compared to the Livret A's current 2.4% – and that's before August 1st, when another Livret A rate drop to 1.7% is likely to happen (good luck with that!).
Cashbee: A Savvy Savings Alternative?
In the face of a predicted Livret A downturn, you might be tempted to explore some "secured alternative investments" or bank books – the Cashbee application being a prime example. These offer the added benefit of being easily liquidated while keeping your deposits safe, up to 100,000 EUR.
And here's the kicker: if you sign up for a new Cashbee Livret between May 1st and June 30th, the funds deposited will enjoy a 2-month boosted rate of 6%! After this promo period, the cash will continue to earn the standard 1.9% rate. But remember, this super rate of 6% only boosts the initial deposit during the promotional period, and for it to remain in the account by the end of 2025. Similar to a time deposit (TD) account, savor the taste of that known, tasty yield – just be prepared to keep your money locked away until the end of the year.
Fine Print: Understanding Cashbee's Offer
- This boosted 6% rate is exclusive only to the funds deposited during the promo period and still residing in the account by December 31, 2025.
- Only the first 200,000 EUR deposited will benefit from this offer. The limit for a Livret A, by comparison, is a much more meager 22,950 EUR.
- Unlike Livret A or other regulated accounts, the interest earned from a super book like Cashbee is taxed. The flat tax (PFU) stands at 30% on the interest earned, but only applies to 5.3% over 6 months.
- Bonus rates offered by Cashbee are tax-exempt, if you want to make an informed decision.
Taking all this into account, between May and December 2025, your Cashbee booklet should yield an average of 2.75% gross (1.925% net after tax) plus the tax-exempt bonus, which is subject to change. Compared to the projected Livret A yield of 1.87% net under the assumed 1.7% rate, Cashbee has the edge.
But exercise caution before diving headfirst into these types of offers! The regular rate of super booklets can change at any time, especially during a period of diminishing key interest rates, which is already starting to take hold with the ECB. This is not the case with the Livret A, whose rate remains unchanged between review dates.
Our Advice: Test Our Savings Booklet Comparator
So, should you ride the Cashbee wave, or stick it out with the Livret A? Only you can make that call. But one thing's for sure: if you want to get the most out of your savings, it pays to comparison shop. So give our savings booklet comparator a spin! It's a smart way to make sure you're saving every penny you can.
Mind you, the Livret A isn't totally dead in the water just yet. There's always the possibility that it might still offer a decent return for long-term savings, even if the rate takes a dip to 1.7%. Just remember: the Cashbee Livret could be a great option for those looking for a short-term boost, thanks to its promotional rate. But if you're in it for the long haul, the stability and consistency of the Livret A might still be your best bet. Good luck, savers!
- Cashbee's promotional rate of 6% on new deposits between May 1st and June 30th could potentially provide a better net yield compared to the Livret A's current 2.4%.
- The Cashbee savings book offers the advantage of being easily liquidated while keeping deposits safe, up to 100,000 EUR, and has a limit of 200,000 EUR during the promotional period.
- While Cashbee yields an average of 2.75% gross (1.925% net after tax) plus the tax-exempt bonus, the Livret A, under the assumed 1.7% rate, is projected to yield 1.87% net.
- To make an informed decision about savings options, it's likely beneficial to compare various savings booklets, such as by using a savings booklet comparator that helps maximize personal-finance gains.
