Eugénie Grandet is set in the town of Saumur. Eugénie's father Felix is a former cooper who has become wealthy through both business ventures and inheritance (having inherited the estates of his mother-in-law, grandfather-in-law, and grandmother all in one year). However, he is very miserly, and he, his wife, daughter, and their servant Nanon live in a run-down old house which he is too miserly to repair. His banker des Grassins wants Eugénie to marry his son Adolphe, and his lawyer Cruchot wants Eugénie to marry his nephew President Cruchot des Bonfons, both parties eyeing the inheritance from Felix. The two families constantly visit the Grandets to get Felix's favour, and Felix in turn plays them off against each other for his own advantage.

The imperious old woman Mavra Tarasovna, the mother of the Moscow merchant Amos Panfilovich Baraboshev, is looking for a general groom for her granddaughter Polyxena.