Save for a future project with a PEL

Whether you are saving to buy a property or wish to build up a cash sum for later in life, a PEL is the solution ? It is a secure(1), regular savings plan that you can start with just 225 euros. Choose the amount of the monthly deposits, starting at 45 euros, to build up your nest egg.

This investment can run for up to 15 years maximum, although you are no longer able to pay in after a 10-year period and there are no fees applied.

Eligibility

Available to everyone

Conditions²

First deposit minimum: 225€

Minimum regular deposits:
Monthly: 45€
Quarterly: 135€ 
Half-yearly: 270€

Maximum: 61,200€ (3)

Interest

2,25% fixed for the term of the contract(4)

Taxation

Subject to income tax in France(5)

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CA Britline’s Plan Epargne Logement (PEL) is a regulated deposit savings account. It is an ideal savings account for people who wish to save money regularly for the short (minimum 2 years) or the long-term and is available to those who live permanently in France or abroad. This makes it a good savings investment plan for those thinking of buying a second home in France or wishing to live here full-time.

With a PEL you make a commitment to save regularly over 4 years, with a guaranteed interest rate.

The maximum period you can save in a PEL account is 10 years but you can keep your account for an additional five-years without the requirement to make regular payments. After 15 years, any funds are automatically transferred into a new account: Compte Sur Livret (CSL).

Your money remains 100% secure, so after two years you can withdraw the funds without penalty at any time however the account will be closed in this event. Withdrawal before 2 years have elapsed results in automatic closure and a reduced interest rate.

For French residents, tax and social charges are deducted automatically on any interest earned – at source.

It is possible to opt for exemption of the deduction at source, under certain conditions.

For non-French residents, no taxes or social charges apply in France (Note: you may be subject to taxation in your country of residence).

Putting money aside into a savings account is a great financial habit. It builds your financial security, enables you to earn interest on your savings and provides you with a useful nest egg for the future. The PEL can be used to build up a deposit when you are looking to take out a mortgage and buy your home.

(1) Funds deposited in the PEL are protected by the guarantee of the Fonds de Garantie des Dépôts et de Résolution (FGDR): www.garantiedesdepots.fr

(2) According to Epargne Logement regulations applicable on 01/01/2024. 

(3) Maximum amount set by the public authorities and subject to change. 

(4) Gross annual rate applicable to PELs opened since 01/01/2024.

(5) For PELs opened up to 31/12/2017: interest subject to social security charges from the 1st year, and to income tax (IR) at the flat rate of 12.8%, unless there is a global option for the IR scale, from the 12th anniversary of the PEL.

This contract is distributed by your Regional Branch of Crédit Agricole on behalf of Crédit Agricole S.A., head office 12 place des Etats-Unis - 92127 Montrouge cédex, 784 608 416 RCS Nanterre, limited company with capital of 8 599 311 468€ registered as a credit institution.

Last update: 09/10/2024