Apart from our Livret accounts we have no investments in France, as all is in the UK. Following a disastrous renting period we’ve decided to sell our second house in France, but we don’t know where to invest the proceeds of the sale in France, which is possibly 250k. We are hoping for something north of 4% interest but it must be risk free. Any ideas anyone?
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Hello. You must have a really good reason to keep the capital in France? If not, move it to the UK and you will be able to get 4%.
A challenge.
Above 4% and risk free does not really marry up.
Also depends on how long, as need long term to get the return you want.
I’m getting 4.05% in the UK on a 1 year investment bond with NS&I. I’m hoping to find something similar in France.
Aside from filling up your Livret your best bet is likely to be an Assurance Vie - just don’t go anywhere near your bank and avoid the “Euro” funds (basically a very very low interest saving account - usually well below 1%).
Self managed / low cost managed AVs are probably Boursarama and Fortunea.
After those you’ll need a broker - there’s 2 focussed on Brits that aren’t hard to find.
But things like the Prudential are safe (for an investment product) and do reasonable returns.
There’s literally hundreds to choose from - low risk to high risk.
My mother in law has kept her savings in fixed rate bonds for over ten years now - rolling them between 1yr and 2 yrs. She uses Charter Savings Bank - online and no complaints.
I think you will get a better return in the UK than anything here in France.
Another vote here for NS&I.
Where are you resident?
For us, as French residents with no UK savings accounts, just a current account, NS&I was the only option for opening a NEW savings account.
I did approach our French bank Soc Gen a couple of years ago about opening a “compte à terme” but my conseiller only wanted to talk about life insurance. Even after I’d explained to her in very clear terms that we were only interested in comptes à terme because we would need the funds shortly to buy a house in the UK.
I then went to the CIC bank and they were happy to offer me exactly what I was looking for. We got over 4% for 1-year deposits. Plus a really good deal on something called a COMPTE EVOLUTIF CIC where the rate goes up every year for 5 years.
Rates have come down quite a bit since we set these up, though.
Any extra money we have these days gets stuffed into NS&I.
I agree, NS&I appears to be the best option, but the proceeds from our house sale will be in euros and changing back to sterling would not ve viable.
I don’t know about such stuff but I do know that the Pru sends me a pension of £29 every month. I have no idea why, I remember nothing about signing up for anything. I just hope they don’t wake up one morning and ask for it all back. 
If they do, I will pay it back at £29 a month. 
Way back in the '60s, I think it was, a friend and I rented a small car lot as a 2nd job. From time to time when I was there whiling the hours away, passing salesmen used to drive in and try to sell me something. I can only assume that one of them was the man from the Pru and, in an ungarded moment, I signed something. 
Pretty sure I never made any payments though. 
I really wish someone who knew something about the subject would do a post about assurance vie and the advantages and disadvantages. I’ve looked on here, and elsewhere, but am none the wiser.
You mean like this >>
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Thanks, Peter. I admit the last time I looked, which was a couple of weeks ago, I gave up hoping for anything. I’m very grateful to you and George Symes for that.
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But perhaps be aware that the same rules might apply as I found to my cost with our 2 LEP savings accounts. It was explained to us that if we took them out in our individual names we would be thus able to get 2 tax free interest accounts rather than one while, at the same time, both of us were single signatories to the other’s account.
Nobody told us that that last bit stopped when one of us died and, as a result, over €9,000 in my late wife’s account is frozen and untouchable by me until her children deign to speak to the notaire, otherwise it will remain thus for 10 years. Even though it was our joint savings, paid into by us both.
Might be a different thing altogether but best to ask searching questions at the start.
In that case definitely ask the CIC what’s the best rate they could offer you for a compte à terme. Make it clear you have quite a large sum.
Some good help and advice here, thank you.
But did you also have a procuration over each other’s accounts?
Very much doubt it so no. The way it was explained was that both accounts were to all intents and purposes, joint accounts and, although we rarely withdrew anything from them, either of us could sign to do so. Just as in the current account.
Not saying that, had I known, I would have closed Fran’s account, but it never ocurred to either of us what would happen if one of us died.
Is NS& I open to French tax residents? I am stuck with a defunct Santander 123 account as they won’t allow switching to another savings account or one with better interest for non UK residents. I just keep transferring money over to my LEP and Livret A. Would prefer to use better UK rates if available
Yes, I’m a French resident and I have 2 accounts at NS&I.