Customers of several banks have seen the interest rate on their savings account increase lately. This means that the return on the savings efforts made will be more advantageous. Generally speaking, the return on a savings account is made up of two components, as Business AM reports. The first does not concern all savers. Indeed, the so-called “loyalty bonus” will only be paid to you, by definition, if your capital remains in the savings account for 12 consecutive months.
To this premium is added the central element of the returns of a savings account, namely the base rate. This rate is calculated based on how long your funds remain in the savings account. If you have an unregulated savings account, you will owe a certain portion of your savings income to the state.
Savers with a non-regulated account must in fact deduct 30% of all income from this savings from the tax authorities. In the case of regulated passbooks, savers benefit from a tax exemption amounting to 980 euros. Beyond this amount, they are subject to a withholding tax of 15%. Finally, the basic interest and the loyalty bonus are generally not paid at the same time.
Indeed, the loyalty bonus is often paid during the quarter following that in which you have reached 12 consecutive months of investment. Basic interest, on the other hand, is generally paid once a year, on 1 January. They will only be partially paid out if your funds have been in the account for less than a year.
