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Home Savings Loan from Home Savings Plan (PEL)
Verified 01 January 2025 - Directorate for Legal and Administrative Information (Prime Minister)
Additional cases ?
A home savings loan can finance the purchase, construction or construction of your principal residence. To get it, you must have a home savings plan (HSP) open for at least 4 years. The characteristics of the loan (the amount lent to you, its interest rate, the amount of any premium paid to you) depend on the opening date of your PEL. We'll explain.
What applies to you ?
Open since 2018
Loan saves housing can be used to do any of the following:
- Purchase of the main residence (new or old)
- Construction of the main residence (land purchase and construction work)
- Expansion, repair or improvement of the main residence (elevation, energy saving, facade renovation of a condominium building...)
- Acquisition of shares in residential civil real estate investment businesses (CREPS)
- Financing of premises for commercial or professional use which also includes the principal residence
Warning
The bank may require immediate repayment of the loan if you use it to finance a transaction that is not a prescribed transaction.
The real estate concerned must be located in metropolitan France, in the overseas departments (Guadeloupe, Martinique, French Guiana, Reunion), in Saint-Pierre-et-Miquelon, in New Caledonia, in French Polynesia or in Mayotte.
You must meet the following conditions:
Have a PEL completed
To obtain a home savings loan, you must have a housing savings plan (PEL) at the end of its contractual term, i.e. an ELP which has reached the end of its contractual term.
The contractual term of the ELP is 4 years, so the ELP expires at the end of the 4 yearse year.
But this contractual term can be modified by mutual agreement between the bank and you, in periods of one year.
Warning
It is not possible to obtain a loan beyond a period of 5 years from the end of the contractually agreed plan.
Have loan rights
The amount of your home savings loan is calculated from your loan entitlements.
The loan entitlements corresponds to the total amount of interest earned on an ELP as of its last anniversary.
To give loan entitlements, the ELP must have come to an end.
You can get a home savings loan, the amount of which is calculated from:
- Either loan entitlements of your completed PEL,
- Either loan entitlements of a completed PEL belonging to one of your relatives, who assigns its rights to a loan,
- Or of the total of loan entitlements of your ELP (completed) and those of the ELP (completed) of a member of your family who gives you his loan entitlements.
Warning
To use the loan entitlements of one of your relatives, your PEL and that of your relative must have come to an end.
They are:
- Your spouse
- Your children or your spouse's children
- Your grandchildren or your spouse's grandchildren
- Your parents or your spouse's parents
- Your grandparents or your spouse's grandparents
- Your siblings and their spouses or your husband/wife's siblings
- Your nephews and nieces or your spouse's nephews and nieces
- Your uncles and aunts or your husband's uncles and aunts
Apply for a loan
If you hold a completed PEL, and you have loan entitlements generated by your PEL, you can apply for the home savings loan. In principle, you have to ask for the loan at the bank where you have your PEL. But you can choose to ask another bank.
If you hold an ELP that has expired, and you have loan entitlements generated by your PEL or received from a relative, you can apply for the home savings loan. When the 2 PELs are not domiciled in the same bank, you must apply for a home savings loan with the bank where the PEL is domiciled with the amount of loan entitlements the highest.
In any case, before granting you the loan, the bank may require the elements usually required for granting real estate loans:
- Proof of sufficient resources to repay the loan
- Warranty (bank guarantee or agreement mortgage or special legal mortgage of the money lender)
- Borrower Insurance.
But the bank can't require you to domiciled your income in its establishment.
The interest rate on the loan depends on the date on which the PEL was opened.
Date of opening of the ELP | Interest rate on the loan |
|---|---|
Since 1er january 2025 | 2.95% |
In 2024 | 3.45% |
In 2023 | 3.2% |
Between 2018 and 2022 | 2.20% |
The term of the loan must be included between 2 and 15 years.
The amount of a home savings loan must be included between €5,000 minimum and €92,000 maximum.
FYI
If you have a PEL and a CEL open in the same bank, you can get a loan from that bank from your PEL and a ready from your CEL. But the total amount of the 2 loans cannot exceed €92,000.
The amount of your home savings loan is calculated based on the following determinants:
Determinants | Values to consider |
|---|---|
Home Savings Loan Amount |
|
Home Savings Loan Duration |
|
Loan entitlements | Total interest accrued on the ELP |
Home Savings Loan Rate | It varies according to the date of opening of the ELP |
The math is done in 2 steps :
1. Calculation of the total amount of interest on the loan to be repaid
The bank calculates the total amount of interest you will have to pay to repay the home savings loan.
This amount is obtained by multiplying your loan entitlements by a coefficient fixed at 2.5 (or 1.5 if you buy shares of IPSC).
Example :
For loan rights of €500 and a borrowing rate of 3.2%.
The total interest payable for the home savings loan is €500 x 2.5 = €1,250
FYI
You can ask the bank for a statement that shows your loan entitlements.
2. Calculation of the loan amount
The bank calculates the loan amounts whose repayment, simulated on the basis of the statutory home savings rate, corresponds to your total interest payable.
This operation makes it possible to identify several amounts that vary according to the repayment period of the home savings loan.
The shorter the repayment term, the higher the loan amount. The longer the repayment term, the lower the loan amount.
Banks usually have automatic calculators that allow to generate a table with loan amounts and the corresponding repayment periods.
You choose the amount and the corresponding loan term that best suits you in agreement with the bank.
PEL opened since 1er January 2018 does not qualify for the State premium.
For prepay your loan, in whole or in part, you must report it to your bank.
But the bank may charge you penalties as set out in the contract.
Open between March 2011 and December 2017
Loan saves housing can be used to do any of the following:
- Purchase of the main residence (new or old)
- Construction of the main residence (land purchase and construction work)
- Expansion, repair or improvement of the main residence (elevation, energy saving, facade renovation of a condominium building...)
- Acquisition of shares in residential civil real estate investment businesses (CREPS)
- Financing of premises for commercial or professional use which also includes the principal residence
Warning
The bank may require immediate repayment of the loan if you use it to finance a transaction that is not a prescribed transaction.
The real estate concerned must be located in metropolitan France, in the overseas departments (Guadeloupe, Martinique, French Guiana, Reunion), in Saint-Pierre-et-Miquelon, in New Caledonia, in French Polynesia or in Mayotte.
You must meet the following conditions:
Have a PEL completed
To obtain a home savings loan, you must have a housing savings plan (PEL) at the end of its contractual term, i.e. an ELP which has reached the end of its contractual term.
The contractual term of the ELP is 4 years, so the ELP expires at the end of the 4 yearse year.
But this contractual term can be modified by mutual agreement between the bank and you, in periods of one year.
Warning
It is not possible to obtain a loan beyond a period of 5 years from the end of the contractually agreed plan.
Have loan rights
The amount of your home savings loan is calculated from your loan entitlements.
The loan entitlements corresponds to the total amount of interest earned on an ELP as of its last anniversary.
To give loan entitlements, the ELP must have come to an end.
You can get a home savings loan, the amount of which is calculated from:
- Either loan entitlements of your completed PEL,
- Either loan entitlements of a completed PEL belonging to one of your relatives, who assigns its rights to a loan,
- Or of the total of loan entitlements of your ELP (completed) and those of the ELP (completed) of a member of your family who gives you his loan entitlements.
Warning
To use the loan entitlements of one of your relatives, your PEL and that of your relative must have come to an end.
They are:
- Your spouse
- Your children or your spouse's children
- Your grandchildren or your spouse's grandchildren
- Your parents or your spouse's parents
- Your grandparents or your spouse's grandparents
- Your siblings and their spouses or your husband/wife's siblings
- Your nephews and nieces or your spouse's nephews and nieces
- Your uncles and aunts or your husband's uncles and aunts
Apply for a loan
If you hold a completed PEL, and you have loan entitlements generated by your PEL, you can apply for the home savings loan. In principle, you have to ask for the loan at the bank where you have your PEL. But you can choose to ask another bank.
If you hold an ELP that has expired, and you have loan entitlements generated by your PEL or received from a relative, you can apply for the home savings loan. When the 2 PELs are not domiciled in the same bank, you must apply for a home savings loan with the bank where the PEL is domiciled with the amount of loan entitlements the highest.
In any case, before granting you the loan, the bank may require the elements usually required for granting real estate loans:
- Proof of sufficient resources to repay the loan
- Warranty (bank guarantee or agreement mortgage or special legal mortgage of the money lender)
- Borrower Insurance.
But the bank can't require you to domiciled your income in its establishment.
The interest rate on the loan depends on the date on which the PEL was opened.
Date of opening of the ELP | Interest rate on the loan |
|---|---|
Between August 2016 and December 2017 | 2.20% |
Between February 2016 and July 2016 | 2.70% |
Between February 2015 and January 2016 | 3.20% |
Between March 2011 and January 2015 | 4.20% |
The term of the loan must be included between 2 and 15 years.
The amount of a home savings loan must be included between €5,000 minimum and €92,000 maximum.
FYI
If you have a PEL and a CEL open in the same bank, you can get a loan from that bank from your PEL and a ready from your CEL. But the total amount of the 2 loans cannot exceed €92,000.
The amount of your home savings loan is calculated based on the following determinants:
Determinants | Values to consider |
|---|---|
Home Savings Loan Amount |
|
Home Savings Loan Duration |
|
Loan entitlements | Total interest accrued on the PEL (net of the State premium, if added to interest) |
Home Savings Loan Rate | It varies according to the date of opening of the ELP |
The math is done in 2 steps :
1. Calculation of the total amount of interest on the loan to be repaid
The bank calculates the total amount of interest you will have to pay to repay the home savings loan.
This amount is obtained by multiplying your loan entitlements by a coefficient fixed at 2.5 (or 1.5 if you buy shares of IPSC).
Example :
For loan rights of €500 and a borrowing rate of 3.2%.
The total interest payable for the home savings loan is €500 x 2.5 = €1,250
FYI
You can ask the bank for a statement that shows your loan entitlements.
2. Calculation of the loan amount
The bank calculates the loan amounts whose repayment, simulated on the basis of the statutory home savings rate, corresponds to your total interest payable.
This operation makes it possible to identify several amounts that vary according to the repayment period of the home savings loan.
The shorter the repayment term, the higher the loan amount. The longer the repayment term, the lower the loan amount.
Banks usually have automatic calculators that allow to generate a table with loan amounts and the corresponding repayment periods.
You choose the amount and the corresponding loan term that best suits you in agreement with the bank.
The State premium is a bonus granted upon withdrawal of funds from the PEL that has expired.
The State premium shall be calculated on the basis of the amount of interest earned on the PEL.
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PEL opened between August 2016 and December 2017
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 100% vested interests, but not exceeding €1,000.
For each dependent who normally lives with the borrower, the premium is increased. The increase is 10% the amount of accrued interest taken into account for the loan amount, with a ceiling of €100 per dependent. The ceiling shall be raised to €153 where the property project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
PEL opened between February and July 2016
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium corresponds to 2/3 of the interest earned, without exceeding €1,000.
For each dependent who normally lives with the borrower, the premium is increased. The increase is 10% the amount of accrued interest taken into account for the loan amount, with a ceiling of €100 per dependent. The ceiling shall be raised to €153 where the property project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
PEL opened between February 2015 and January 2016
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 50% vested interests, but not exceeding €1,000.
The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
ELP opened between March 2011 and January 2015
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 40% vested interests, but not exceeding €1,000.
The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
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PEL opened between August 2016 and December 2017
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 100% vested interests, but not exceeding €1,000.
For each dependent who normally lives with the borrower, the premium is increased. The increase is 10% the amount of accrued interest taken into account for the loan amount, with a ceiling of €100 per dependent. The ceiling shall be raised to €153 where the property project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
PEL opened between February and July 2016
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium corresponds to 2/3 of the interest earned, without exceeding €1,000.
For each dependent who normally lives with the borrower, the premium is increased. The increase is 10% the amount of accrued interest taken into account for the loan amount, with a ceiling of €100 per dependent. The ceiling shall be raised to €153 where the property project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
PEL opened between February 2015 and January 2016
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 50% vested interests, but not exceeding €1,000.
The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
ELP opened between March 2011 and January 2015
The State premium is paid only if you are entitled to a loan of at least €5,000.
The amount of the premium is 40% vested interests, but not exceeding €1,000.
The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
For prepay your loan, in whole or in part, you must report it to your bank.
But the bank may charge you penalties as set out in the contract.
Opened between 2003 and February 2011
The home savings loan can be used to do one of the following:
- Purchase of the main residence (new or old)
- Construction of the main residence (land purchase and construction work)
- Expansion, repair or improvement of the main residence (elevation, energy saving, facade renovation of a condominium building...)
- Acquisition or subscription of shares of SCPI (civil residential real estate investment Businesses)
- Construction or acquisition of a secondary residence (in the new)
- Renovation or extension of a secondary residence
- Acquisition of a residence for leisure or tourism
FYI
the real estate concerned must be located in metropolitan France, in the overseas departments (Guadeloupe, Martinique, French Guiana, Reunion), in Saint-Pierre-et-Miquelon, in New Caledonia, in French Polynesia or in Mayotte.
Warning
The bank may require immediate repayment of the loan if you use it to finance a transaction that is not a prescribed transaction.
The following 2 conditions must be met:
Have a PEL completed
You must have a housing savings plan (PEL) at the end of its contractual term, i.e. an ELP which has reached the end of its contractual term.
The contractual term of the ELP is 4 years, so the plan expires at the end of the 4 yearse year.
But this contractual term can be modified by mutual agreement between the bank and you, in periods of one year:
- If the contractual term of the ELP is reduced by one year, the plan will expire at the end of 3e year.
- If the contractual term of the plan is extended by one year, the plan will expire at the end of 5e year. The one-year extension may be made several times in a row, up to a total of 10 years. Thus, in the case of successive extensions, the PEL can therefore come to an end at the end of 5, 6, 7, 8, 9 or 10 years.
Have loan rights
The amount of the loan that will be granted to you is calculated on the basis of the total amount of interest you have earned on the PEL on the date of the last anniversary of the plan.
These interests constitute your loan entitlements.
If one of your relatives has an ELP, he can to assign his rights to a loan. This can allow you to get a loan if you don't have a loan entitlements or to get a loan for more than you are entitled to.
To be able to use loan entitlements of a loved one, your PEL and your loved one's must have been completed.
They are:
- Your spouse
- Your children or your spouse's children
- Your grandchildren or your spouse's grandchildren
- Your parents or your spouse's parents
- Your grandparents or your spouse's grandparents
- Your siblings and their spouses or your husband/wife's siblings
- Your nephews and nieces or your spouse's nephews and nieces
- Your uncles and aunts or your husband's uncles and aunts
Apply for a loan
If you hold a completed PEL, and you have loan entitlements (generated by your plan or received from your relatives), you can apply for the home savings loan. In principle, you have to ask for the loan at the bank where you have your PEL. But you can choose to ask another bank.
If the two PELs are not domiciled in the same bank, the loan must be granted by the bank in which the PEL with the highest amount of interest acquired is domiciled.
In any case, before granting you the loan, the bank may require the elements usually required for granting real estate loans:
- Proof of sufficient resources to repay the loan
- Warranty (bank guarantee or agreement mortgage or special legal mortgage of the money lender)
- Borrower Insurance.
But the bank can't require you to domiciled your income in its establishment.
The interest rate on the loan is 4.20%.
The term of the loan must be included between 2 and 15 years.
The amount of a home savings loan must be included between €5,000 minimum and €92,000 maximum.
FYI
If you have a PEL and a CEL open in the same bank, you can get a loan from that bank from your PEL and a ready from your CEL. But the total amount of the 2 loans cannot exceed €92,000.
The amount of your home savings loan is calculated based on the following determinants:
Determinants | Values to consider |
|---|---|
Home Savings Loan Amount |
|
Home Savings Loan Duration |
|
Loan entitlements | Total interest accrued on the PEL (net of the State premium, if added to interest) |
Home Savings Loan Rate | It varies according to the date of opening of the ELP |
The math is done in 2 steps :
1. Calculation of the total amount of interest on the loan to be repaid
The bank calculates the total amount of interest you will have to pay to repay the home savings loan.
This amount is obtained by multiplying your loan entitlements by a coefficient fixed at 2.5 (or 1.5 if you buy shares of IPSC).
Example :
For loan rights of €500 and a borrowing rate of 3.2%.
The total interest payable for the home savings loan is €500 x 2.5 = €1,250
FYI
You can ask the bank for a statement that shows your loan entitlements.
2. Calculation of the loan amount
The bank calculates the loan amounts whose repayment, simulated on the basis of the statutory home savings rate, corresponds to your total interest payable.
This operation makes it possible to identify several amounts that vary according to the repayment period of the home savings loan.
The shorter the repayment term, the higher the loan amount. The longer the repayment term, the lower the loan amount.
Banks usually have automatic calculators that allow to generate a table with loan amounts and the corresponding repayment periods.
You choose the amount and the corresponding loan term that best suits you in agreement with the bank.
A state premium is paid to you when you use your PEL to obtain a home savings loan.
The amount of the premium shall be calculated on the basis of the interest earned on the PEL.
It is equal to 40% the interest obtained, but not exceeding €1,525.
FYI
The State premium is exempt from income tax, but it is taxable on social security contributions.
It is possible prepay the loanin whole or in part.
If you want to make an early refund, you must report it to your bank.
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