Savings account

A savings account (sometimes called account on booklet, considering which it was, and is still in certain establishments or country, materialized by a booklet held by the saver where the deposits are noted, withdrawals and balances) is a loan at call deposit in a bank, or a comparable organization (savings bank), carrying an interest (generally annual) and generally not making it possible to be used to make payments directly.

One can also define it by his differences:

compared to a Account running, support of means of payment (accounts - checks, charts, transfers) and generally not carrying interest.
compared to two other types of saving, the Account in the long term and the Plan of saving, but which comprise an expiry, with a penalty in the event of withdrawal anticipated

Types

defiscalized but obeying certain requirements, in particular a certain ceiling amount of payment or Incur (= of balance): Livret has, CODEVI, account of saving housing (CONCEALMENT)…
ordinary (taxed): banking savings account
the Super booklet is also a savings account, but suggested by the online banking, with a rate sometimes higher than the offers of the accounts saves " classiques".

See on this subject the Standard of bank deposits

Periods of calculation of the interests (in France)

The interests of a booklet or savings account are calculated by fifteen or so days. There exists in one calendar year 24 fortnights and not 26 (a fortnight is thus not equal to 2 weeks!). The rule being that each month comprises two fortnights.

The interests are thus calculated only twice per month: the 16 of the month, and 1st of the next month.

Calculation is very simple, since it is enough to multiply the rate of the booklet by the balance of the booklet. As the rate is annual, it is advisable to divide this rate by 24 to calculate the interests generated during a fortnight.

Thus the formula is:

Interests of a fortnight = (annual Rate of the booklet/(24 * 100)) * balance of the booklet

The balance considered for calculation is the lowest balance of the booklet of the period. Thus if the saver carries out a withdrawal two days only before the end of the fortnight, calculation does not relate, for the whole of the fortnight that to the balance calculated after the withdrawal.

It should be noted that the savings accounts allow the capitalization of the interest: the one calendar year interests are added indeed to the balance of the account, with the beginning of the year following.

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