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What is a savings account in France: everything you need to know

Soufiane Baba

11.11.25

Read time 2 minutes

When you want to keep your savings secure, a savings account is often the first solution that comes to mind. Most traditional and online banks in France allow you to open one, but what do we really know about them? What is a time savings account or a home savings account? Can you withdraw your money whenever you want? Here’s everything you need to know.

Looking for a regulated and flexible way to keep your money safe? Consider a Wise account, where your funds are protected and could earn daily returns.

You can save in the currency of your choice (EUR, GBP, or USD) and access your funds at any time.

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What is a savings account?

A savings account is a type of bank account designed to help you set money aside safely. Also known as a “savings passbook,” it allows you to earn interest on your balance at a rate determined by your bank.

One of the main advantages of a savings account is flexibility — there’s usually no strict deposit limit. In other words, you can deposit as much as you want without hitting a maximum balance cap (unlike regulated products such as the Livret A in France).

Different types of savings accounts in France

Depending on your goals and how you want to manage your money, there are several kinds of savings accounts. The most common include:

Traditional savings account
High-interest savings account
Money market savings account

Traditional savings account

This is the most common and straightforward type of savings account. It’s easy to open, allows free deposits and withdrawals, and offers a variable interest rate.

However, interest rates on traditional savings accounts tend to be relatively low compared to other investment options.

High-interest savings account

As the name suggests, these accounts pay higher interest rates than standard ones.

The trade-off? They often come with stricter conditions — such as limits on withdrawals or minimum balance requirements.

Money market savings account

Money market accounts are designed for savers who want professionals to manage their funds. The bank or institution invests your money in short-term financial instruments, with limited risk.

This option may yield higher returns than a traditional savings account, but withdrawals are generally more restricted, and account conditions are stricter.

Advantages and disadvantages of savings accounts in France

Savings accounts come with many benefits but also some drawbacks worth considering.

Advantages

Your money is safely stored with a financial institution.
You earn interest on your savings — with Wise Interest, for example, you can earn 1.72% on EUR, 3.5% on GBP, and 3.88% on USD (rates are variable and may change).
You can usually withdraw money whenever needed.
Helps you reach goals faster (e.g. buying a car, property, or funding projects).
Ideal for building an emergency fund to handle unexpected expenses.

Disadvantages

Interest rates are often lower than other investment products.
Inflation can reduce the real value of your savings.
Some accounts limit how often or how much you can withdraw.
Interest earned may be taxable depending on the country.
Some banks charge account maintenance or management fees.

Savings account in France FAQ

What is a time savings account?

A time savings account (Compte Épargne-Temps, or CET) is typically offered by employers. It allows employees to set aside unused leave or money over a period of time, which can later be converted into paid leave or financial compensation, depending on company policy.

What is a home savings account?

The Compte Épargne Logement (CEL) — or home savings account — is a regulated French savings product intended to help you finance property purchases or renovations. Conditions for opening and using it vary by bank and by customer profile.

Can you withdraw money from a savings account at any time?

For standard savings accounts, you can generally make withdrawals freely and without fees.
However, high-interest or money market accounts may impose restrictions, such as notice periods or withdrawal limits.

Boost your savings safely with Wise

If the savings options from traditional French banks don’t fully meet your needs, consider a Wise account. Here’s why it could be a good fit:

Keep your money safe in a regulated account.
Access your funds at any time (Wise doesn’t lend out your money).
Choose the currency that suits you best: EUR, GBP, or USD.
Manage everything easily via the Wise app on iOS or Android.

You can also hold and manage 40+ currencies, and spend like a local with the Wise card, using the mid-market exchange rate for conversions.

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This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.

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