French companies get higher deposit rates

French companies received an average rate of 3.45% on new term deposits with maturities over two years in September 2026, up from 3.08% in August. The increase of 37 basis points was reported by the Bank of France on 2 November, based on new contracts from non-financial companies, not all their existing deposits.

Shorter-term deposits also see increases

For new term deposits with maturities of two years or less, companies received an average rate of 2.64% in September, compared to 2.49% in August. Households also saw increases, though at lower levels, for similar deposit terms.

Individuals see modest rate increases

Individuals saw the average rate for new term deposits of up to two years rise from 2.42% in August to 2.53% in September. For contracts with maturities over two years, the rate increased from 2.90% to 3.06%, according to data from credit institutions.

Deposit volumes show different trends

In September, new contracts for companies reached about 41 billion euros for maturities of two years or less, compared to 3 billion for longer maturities. For households, the amounts were 14 billion and 2 billion euros respectively, showing the smaller scale of longer-term deposits.

Existing deposits have lower rates

Existing deposits, which include sums already placed, had an average rate of 1.30% for non-financial companies in September, up slightly from 1.27% in August. For households, the rate remained stable at 1.30%. Total deposits for these categories reached 2,601 billion euros.

Different products have varying rates

For individuals, demand deposits, totaling 552 billion euros, had an average rate of 0.05%. The Livret A, a popular savings account with 404 billion euros, remained at 1.70%, while ordinary savings accounts averaged 0.81% and existing term deposits of up to two years averaged 2.33%.

Inflation outpaces deposit returns

Consumer prices rose by 3.4% year-on-year in October, compared to 3.1% in September. However, comparing these figures with average bank rates does not reflect actual real returns due to differences in timing, taxation, and contract terms.

Rates reflect different financial contexts

The Bank of France clarifies that existing deposit rates are based on accrued interest and total amounts, while new contract rates reflect current subscription conditions. September figures are provisional, and August data has been revised, emphasizing the need to distinguish statistical averages from specific bank offers.