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In brief
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Duration: Opening time: 20–30 minutes
Cost: Free opening; minimum payment 225 €; min 540 €/year
Possible online

Who this guide is for

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  • You if you plan to buy a real estate in 4–10 years and want to save + access a preferential credit
  • If you are looking for a fixed rate long-term investment
  • You if you already have an ELP and want to understand withdrawal or loan

To be prepared in advance

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  • Identification and proof of residence
  • Minimum initial payment: 225 € (banks often ask for more)
  • Regular payment plan: minimum 540 €/year or 45 €/month

Step-by-step procedure

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  1. 1Understand the conditions: one plan per person, no simultaneous ELP and CEL in the same bank. Duration of 4 years (up to 10), early closing before 4 years = partial loss of benefits.
  2. 2Open the ELP in any French bank — on site or online. Sign the account agreement; the rate is set at the opening (2 % gross for LECs since the 1st January 2024; for earlier LECs, historical rate).
  3. 3Payments: minimum 540 €/year or 45 €/month (regular transfers), ceiling 61 200 €. Free payments possible, but interest only on the sum ≤ ceiling.
  4. 4Interest capitalized at December 31. Gross rate 2 % taxed at close: for an LEP of less than 12 years — PPU 30 % (12,8 % tax + 17,2 % social contributions) at close time; beyond 12 years, each year.
  5. 5Housing savings loan: after 3 years, the ELP is entitled to a preferential credit (rate 的 2,87 % gross before 2024; for new ELP, higher rate). The amount depends on cumulative interest. Simulator on your bank.
  6. 6State premium: for LEPs opened before 2018 — State premium (up to €1,525, conditional on a loan within 10 years). For the new ELPs — no bonus.
  7. 7Closing of the ELP: at any time but before 4 years — loss of the preferential rate advantage and partial reduction of interest. After 10 years, the plan is automatically closed (continuation possible on Livret A).
  8. 8ELP and tax residence: the same rates and duties for residents and non-residents. In the event of a bank change — the ELP is not transferable, it must be closed and a new one opened (loss of history).

Common mistakes

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  • Open an LEP and a LEC in the same bank — forbidden; the bank will ask to choose.
  • Closing the ELP before 4 years — loss of benefits and reduced rate.
  • Do not pay the minimum of € 540/year — the bank may lower the rate or notify.
  • Exceeding the ceiling of €61,200 — the excess amounts do not generate interest.
  • Consolidate PEL and Livret A: the PEL sets the rate for the entire duration (plus), but the funds are blocked 4 years (less).

Official sources

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Show sources in this section

Useful links

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LDDS: Sustainable BookletDossier tenantFinance Section

Important remark

Rates and conditions set by the Monetary and Financial Code (R221-44 et s.) and likely to change. Indicative information; check with your bank.

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