In a context of a gradual decline in regulated savings rates and inflation more moderate than in 2023-2024, many French savers are still looking for where to place their money without taking excessive risks. Livret A, LEP, term account, life insurance euro funds or money market funds: several solutions today allow you to secure your capital while achieving a yield sometimes higher than classic banking placements.
But investing “without risk” does not necessarily mean obtaining a high return. Behind this notion lie actually several levels of security, availability of funds, and protection against inflation. Some investments guarantee the capital but lock the money for several months. Others remain fully liquid but see their yield decline in 2026.
Here are the main solutions to know for prudently placing savings in 2026, with their advantages, their limits, and the profiles they target.
The term account (CAT), the no-surprise investment
The term account is gradually returning to the landscape of French savings since the rise in interest rates initiated by the European Central Bank. For a long time forgotten when rates were near zero, it appeals again to savers seeking a simple, readable, and non-volatile placement.
How does a CAT work?
The principle of the term account is simple: you deposit a sum of money with a bank for a predetermined period, in exchange for a remuneration rate known at subscription. Throughout the contract’s duration, the capital is guaranteed.
Unlike the Livret A or the LDDS, the money is not fully available. In case of early withdrawal, the bank may apply penalties or significantly reduce the planned remuneration.
The duration of a CAT generally ranges from a few months to several years. The longer the duration, the higher the rate offered, although this logic depends strongly on market expectations.
What yields to expect?
In 2026, some term accounts continue to display rates higher than regulated savings books, especially on short or intermediate terms. Fintechs and specialized platforms like Swaive highlight capital-guaranteed placement solutions with fixed rates known in advance, such as the 5-year term account at 2.80% per year*.
However, be careful: the announced yields are generally gross of tax. CAT interest is subject to the flat tax (PFU) of 31.4%, or the option to income tax scale. Plus 18.6% social contributions.
Advantages and limits of the term account
The main advantage of the term account remains its transparency: the saver knows in advance the remuneration and is not subjected to any fluctuation in financial markets.
Another positive point: the capital is guaranteed by the banking establishment within the limits of the Deposit Guarantee and Resolution Fund (FGDR), up to €100,000 per depositor and per bank.
On the downside, the main limitation is the lack of liquidity. A CAT is not suited for immediately mobilizable emergency savings. Its yield can also become less attractive if rates rise after subscription.
Are bank savings books still interesting?
Despite the drop in rates that occurred in 2025 and then in 2026, savings books remain central to French savers thanks to their security and immediate availability.
What are the different types of savings books?
Regulated savings accounts remain the most used savings products by the French. The main ones are:
- the Livret A;
- the LDDS (Sustainable and Solidarity Development Savings Account);
- the LEP (Popular Savings Account).
The Livret A and the LDDS are accessible to all and completely exempt from taxes. The LEP, reserved for modest households under income conditions, benefits from a higher yield.
Alongside these regulated savings books, there are also tax-registered bank books offered by traditional or online banks. Their rate can sometimes be attractive temporarily thanks to promotional offers, but they remain subject to the standard taxation.
What yields to expect in 2026?
Since February 2026, the Livret A and LDDS rate is set at 1.5%, while LEP yields 2.5%.
Even if these rates appear less attractive than in 2023-2024, regulated savings books remain competitive thanks to their total tax exemption.
Taxed bank savings accounts can sometimes offer higher gross rates, notably during welcome offers. And even after taxation, the best savings books remain currently competitive.
Advantages and limits of savings books
The main advantage of savings books remains their total liquidity: money is available at any time without penalty.
They also offer maximum security since the capital is guaranteed and the interest on regulated savings books is exempt from taxes and social contributions.
However, their yield remains limited and can become lower than inflation. In the long run, holding too large a portion of wealth in savings books can thus lead to a gradual loss of purchasing power.
Euro funds: the security of life insurance
After several difficult years linked to low rates, euro funds in life insurance have regained interest with the rise in bond yields.
What are the different types of euro funds?
Not all euro funds look alike. They are generally distinguished as:
- classic euro funds;
- new generation euro funds;
- real estate or diversified euro funds.
Classic euro funds mainly invest in bonds and prioritize maximum safety. More dynamic funds incorporate more real estate assets or equities to improve potential returns.
Some insurers also offer euro funds accessible only under conditions of investment in unit-linked funds.
What yields to expect in 2026?
In 2025, several online life insurance contracts delivered returns above 3%, sometimes more thanks to temporary bonuses.
Performance in 2026 will largely depend on the evolution of bond rates and insurers’ commercial policies. The best euro funds should nevertheless continue to offer yields above regulated savings books.
However, note: the displayed performances are generally gross of taxation and sometimes conditioned on partial investment in unit-linked funds.
Advantages and limits of euro funds
The main advantage of euro funds remains the capital guarantee, excluding management fees and taxes.
Life insurance also benefits from an attractive tax framework after eight years of holding and significant advantages in terms of wealth transfer planning.
However, euro funds also present certain limits:
- availability sometimes less immediate than with a savings book;
- yield varies depending on contracts;
- access sometimes conditioned on unit-linked investments.
There is also an often overlooked risk related to the Sapin II law. In case of a major financial crisis, the High Council for Financial Stability (HCSF) may temporarily limit withdrawals on life insurance contracts to protect the stability of the financial system. This exceptional measure has never been activated to date.
Finally, as with other safe investments, the main risk remains inflation if the euro fund yield is not sufficient to preserve purchasing power.
Obligations and monetary products: prudent alternatives
Between regulated savings books and more dynamic investments, monetary and bond products constitute an interesting intermediate solution.
Money market funds
Money market funds invest in very short-term financial products issued by states or large corporations.
Long by far less remunerative when rates were near zero, they have regained interest since the rise in the ECB’s policy rates.
Their volatility remains generally low, even if capital is not guaranteed like with a regulated savings book.
State and corporate bonds
Bonds involve lending money to a government or a company in exchange for interest.
State bonds from solid-rated countries are considered among the safest bond investments. Corporate bonds often offer higher yields, but with higher risk.
In practice, many investors today use bond funds or bond ETFs to diversify risks.
Advantages and limits of bonds and monetary products
These investments can offer yields higher than savings books while remaining relatively prudent.
They also allow better diversification of wealth and generally benefit from periods of higher rates.
However, their capital is not guaranteed. The value of bonds can rise or fall depending on interest rates and economic conditions. Their taxation is also less favorable than that of regulated savings books.
Conclusion: can one really invest without any risk?
No investment is totally without risk: even when the capital is guaranteed, savers remain exposed to inflation risk, which can gradually erode the purchasing power of their savings. Diversifying investments among several prudent solutions helps better balance security, returns, and the availability of funds.
To push for greater performance, one would nevertheless need to accept a higher level of risk and potentially greater volatility. The most remunerative investments remain those that expose capital to financial markets; they are the ones to favor for the long term.
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All our information is, by nature, generic. It does not take into account your personal circumstances and in no way constitutes personalized recommendations with a view to executing transactions and cannot be equated with financial investment advice, nor any invitation to buy or sell financial instruments. The reader is solely responsible for the use of the information provided, and Cafedelabourse.com’s publisher cannot be held liable. The publisher’s liability cannot be engaged in case of error, omission or inappropriate investment.
