The Livret A savings account has recorded its largest net outflow since 2009.

The French continue their massive withdrawal from their Livret A savings accounts. In November 2025, withdrawals exceeded deposits by €800 million, bringing the total outstanding balance to €438,9 billion, according to the Caisse des Dépôts. This marks the fifth consecutive month of net outflows, an unprecedented situation since official statistics began in 2009. The low point was reached in October with €3,81 billion in net withdrawals, surpassing the previous record of €3,77 billion set in October 2023.

Five consecutive months of net withdrawals

This erosion is affecting the 58 million holders of this regulated savings product. After recording net outflows of €2 billion in September, the Livret A savings account saw withdrawals intensify sharply the following month. The scale of the phenomenon reflects a change in savers' behavior, who are now drawing on their reserves rather than contributing to them as they traditionally did.

The drop in the interest rate to 1,5% partly explains this exodus. The French are now shifting towards other investments or using these savings to cover their day-to-day expenses. Philippe Crevel, of the Cercle de l'Épargne (Savings Circle), confirms that 2025 will be remembered for this historic shift in the use of the Livret A savings account, a product that was once emblematic of popular French savings.