PEL: bad news, the housing savings plan rate will fall on January 1, 2025

The remuneration of the housing savings plan in force from January 1 has just been published in the Official Journal. The interest rate offered to new PEL subscribers will fall significantly.

A gross yield of 1.75%. This is the meager remuneration to which future subscribers of a home savings plan will be entitled (PEL). From January 1, 2025, the interest rate on this regulated savings product will in fact fall by 0.5 points, to go from 2.25% to 1.75%. This is indicated in a notice published in the Official Journal this Wednesday, December 18. New remuneration in line with the proposal from the governor of the Banque de France.

As a reminder, the calculation formula which determines the PEL rate takes into account the interest rate swap rate (“swap” rate) over different durations: 2, 5 and 10 years. These rates having fallen in 2024, a remuneration of 1.75% will therefore apply to new plans opened in 2025. And, importantly, this is a gross rate, the PELs subscribed since January 1, 2018 being subject to the flat tax by 30%composed of social security contributions of 17.2% and a non-discharging flat-rate deduction of 12.8%.

A maximum net rate of 1.45%

Thus, the net interest rate of a saver who opens a PEL in 2025 will be only 1.225%. If he opts for taxation at the income tax scale and is not taxable, this same saver will benefit from a maximum net remuneration of 1.449%. Please note, however, that the gross return for holders of a home savings plan subscribed before January 1 will continue to apply, i.e. 2.25% for a PEL opened in 2024 or even 2% for a plan existing since 2023. In fact, the rate of a PEL applies for the entire life of the plan.

With this new yield, the holder of a new PEL will therefore earn, in the best case, barely half of what a Booklet Apaid at 3% until February 1, 2025. Only reason for satisfactionTHE borrowing rate linked to the housing savings plan will also fall on January 1, from 3.45% to 2.95%.