PEL: rate, ceiling, duration of the housing savings plan

The PEL (Housing Savings Plan) is a bank account which is used to save to eventually carry out a real estate project. It allows for example to finance the purchase of accommodation, construction or work. The housing savings plan is subject to several rules: ceiling, remuneration rate, duration, maximum amount. Here is everything you need to know about the PEL.

What is a PEL?

Housing savings plan: definition

The housing savings plan is blocked financial investment. It allows the saver to benefit from an advantageous rate loan to finance the purchase, the renovation of a main, secondary or tourism residence.

A regulated savings product

The PEL is part of the large family of regulated savings, in the same way as booklet A, LDDS or LEP. Its operating conditions are strictly framed by the State which notably defines its rate of remuneration, its ceiling and its taxation. The housing savings plan can be combined with other regulated savings products, but it can only be held one copy per person.

What are the conditions to open a PEL?

Anyone can open a pel

N ‘whatever who can open a PEL, provided you are a natural person (It is not possible to do so for a company or an association). There is no condition of age, residence or nationality. Just sign a contract with a banking establishment and make a first payment of 225 euros minimum.

A single Savings Plan Housing

It is forbidden to have several PELs per person. On the other hand, there may be several by tax household, in the event that its members each hold one.

What’s the point of having a PEL?

The PEL allows both to save and accumulate loan rights. The latter correspond to the interests acquired during the savings phase. If he wishes, the holder, thanks to these loan rights, can obtain a mortgage on advantageous conditions. They can be activated after four years of detention.

How to open a PEL?

A PEL can open in any bank that has signed an agreement with the state. However, people with a housing savings account (CEL) must take out the PEL in the same bank. At the opening of the account, its holder must sign a contract and pay a minimum amount of 225 euros.

What is the PEL rate currently in 2025?

Percentage of remuneration for the housing savings plan in 2024

An opinion relating to the rate of remuneration of housing savings plans (PEL) was published in the Official Journal of December 18, 2024. Since January 1ᵉʳ 2025, it has set the rate of remuneration of the PEL to 1.75%, against 2.25% in 2024, one 0.5 point drop. The calculation of this rate takes into account the rate of interest rate exchange contract. This reduction in the rate of remuneration has no impact on the open plans before January 1, 2025.

PEL rate in 2024

From January to December 2024, the rate of remuneration for housing savings plans was set at 2.25%. The rate was up 0.25 points in comparison with 2023.

Evolution of the PEL remuneration rate from 2015 to 2025

Here is the evolution of the PEL remuneration rate:

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What are the conditions for payment on a PEL?

Amount of the monthly, quarterly and semi -annual payment

At its opening, the PEL must be supplied with a first payment of 225 euros minimum per check, species or transfer. The subscriber can then perform periodic payments, the amount of which is fixed to the contract. They are generally:

• 45 euros per month,
• 135 euros per quarter,
• 270 euros per semester.

Annual minimum amount

In all cases, the PEL holder must pay a minimum amount of 540 euros During a year. He can also make exceptional payments when he wishes and for the amount chosen without being able to exceed the PEL ceiling. If these payment conditions are not met, the bank may start a procedure for terminating the housing savings plan.

What is the ceiling of the housing savings plan?

The maximum amount of savings on a PEL is set to 61,200 euros. This sum can be exceeded only by the capitalization of interest. Once the ceiling is reached, it is impossible to make a transfer on your PEL.

How long is the housing savings plan?

At the opening of his PEL, the saver undertakes to place money there for at least four years. He is not allowed to remove it before the 4ᵉ anniversary of the opening of the account. After this date, the new withdrawal of withdrawal comes the following year, i.e. 5ᵉ, 6ᵉ, 7ᵉ, 8ᵉ, 9ᵉ or 10ᵉ anniversary of the opening of the account. There Maximum PEL duration is set at 10 years.

Can we keep a PEL over 15 years?

After 10 years of savings, you can no longer feed your PEL. However, it is always possible to receive interest for five years. Loan rights are also blocked. If the money is not withdrawn, the PEL automatically turns into an account on a classic booklet.

How much is a PEL?

Capitalisable on December 31 of each year, the interest is added to the capital and generate additional interests. The capital’s remuneration rate is set according to the opening date of the PEL and is guaranteed until its fence. Depending on the banking establishment, the interest is calculated day by day or by fortnight. The calculation formula is based on interest rates of the European monetary market, called “swap”:

Compensation rate = 70 % SWAP rate at 5 years +30 % (Swap rate at 10 years – SWAP rate at 2 years)

PEL Taxation

Open housing savings plan before January 1, 2018

For open PELs Before January 1ᵉʳ 2018the taxation is advantageous: for 12 years, the interests are exempt from income tax (but subject each year to social security contributions). After 12 years, the interests acquired from this anniversary are subject to income tax, in addition to social security contributions. The state premium is exempt from tax, but subject to social security contributions.

Open housing savings plan since January 1, 2018

But all of this has changed with the 2018 finance law. New PEL (open since January 1, 2018) are now subject to the single lump sum (PFU) of 30 %in the first year. It corresponds to income tax, up to 12.8% and social security contributions, up to 17.2%.

For holders of a PEL, know that if you opened it less than 12 years ago, nothing changes. Aside from the imposition of interest increased from 15.5 % to 17.2 % (social security contributions) due to the increase in the CSG. If you have had a PEL for over 12 years, you can choose the status quo or the PFU, more interesting in most cases. It is therefore better to keep your old PEL.

Can we combine a PEL with other regulated savings booklets?

Nothing prevents the holder from a PEL from combining it with other regulated savings booklets such as:

Pel and state premium

The PELs open since January 1ᵉʳ 2018 no longer give entitlement to the state premium.

How to close your housing savings plan?

Withdraw money before reaching the four -year period

The minimum withdrawal duration is four years and the maximum duration is 10 years. Before the four -year period, any withdrawal leads to the closure of the PEL and generates penalties. If the PEL is less than two years old, interest is recalculated on the basis of the CEL rate in force on the closing date. Loan and state bonus rights are lost.

If he is between two and three years old, the benefit from the PEL remuneration rate is preservedbut loan and state bonus rights no longer exist. If it is between three and four years old, the benefit of the PEL’s remuneration rate is preserved, loan and state premium rights, but they are reduced.

Climb your account after four years

If the closure of the PEL intervenes after the first four years, the funds and the interests produced are paid to the holder. The latter retains the right to loan for a year. Beyond 10 years, it is no longer possible to make payments. On the other hand, the PEL continues to produce interest for another five years.

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PEL and death of the holder

In the event of death of the holder, the PEL is closed if it had already expired, because it has been open for more than 10 years. Indeed, the judges believe that a PEL cannot be transmitted as soon as it has expired. It is therefore closed and capital is paid to the account of the succession as well as interest. On the other hand, if the PEL has not expired, the heirs can request its termination or the resumption of the PEL by one of the beneficiaries in its own name.