« Plan Epargne Logement » in detail
Available to everyone
First deposit minimum: 225€
Minimum regular deposits:
2% fixed for the term of the contract
Subject to income tax in France
Frequently asked questions
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.
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.