Young booklet
Verified 04 January 2023 - Directorate for Legal and Administrative Information (Prime Minister)
You are under 26 and you want to increase your savings? You can open a young booklet. It is a safe investment with an interest rate set by the government, taking inflation into account. Your money remains available and you can withdraw if needed. If you are a parent of a young person over 12 years of age, you can also open a booklet for them. We present you with the information you need to know.
To open a young booklet, you must meet the following 3 conditions:
- Not already have a young booklet
- Have your principal residence in France
- Be between 12 and 25 years old
FYI
you can combine a young booklet with a current account and with other savings books (e.g. booklet A).
To ensure that you can benefit from a young booklet, the bank asks you for the following documents:
- Declaration of honor certifying that you reside in France and that you do not already have a booklet for young people
- Any official document or document establishing your date of birth
- If you are a minor, the name and address of your legal representative
It is forbidden to hold several booklets at the same time.
Indeed, the number of young booklets is limited to 1 per person.
The bank that receives a request to open a booklet for young people must inform the customer of the ban on holding two booklets for young people and ask him whether he already holds this type of booklet in another institution or not.
If the future holder of the booklet is a minor, the letter is sent to his legal representatives.
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The client states that he does not hold a youth booklet in another establishment
If the customer declares that he does not have a youth booklet in another institution, the bank must inform him of the need to ask the tax administration about this.
In this case, the customer must inform the bank whether or not he accepts that the tax authorities communicate to the bank all the information relating to the young booklets that he may hold in other establishments.
However, the customer cannot object to the administration passing on to the bank information about the existence of other booklets open to him as a young person.
The bank cannot open the booklet until it has the response of the tax authorities, which must intervene within a maximum of 2 working days.
The situation varies depending on whether or not the customer has agreed to have the tax authority transmit the information to the bank.
Customer agrees that the tax authority will provide the information to the bank
The situation varies depending on the response of the tax administration.
The customer does not have a youth booklet in another establishment
If the tax authorities confirm that the customer does not have a young booklet in another institution, the bank must open the booklet to him.
The client has at least one young booklet in another establishment
If the tax authority informs the bank that the customer has at least one booklet at another institution, the bank must transmit the information to the customer, offering to choose one of the following 3 solutions:
- Close existing youth booklets himself
- Allow the bank to complete the formalities for closing the existing youth booklets and transfer the funds to the new youth booklet
- Renounce the request to open the new booklet for young people
The customer refuses to have the tax authority provide the information to the bank
The situation varies depending on the response of the tax administration.
The customer does not have a youth booklet in another establishment
If the tax authorities confirm that the customer does not have a young booklet in another institution, the bank must open the booklet to him.
The client has at least one young booklet in another establishment
If the tax authority informs the bank that the customer already has at least one youth booklet at another institution, the bank must refuse to open the LDSS and inform the customer of the reason for the refusal.
The client states that he already holds a youth booklet in another establishment
If the customer states that he already has at least one young booklet at another institution, the bank must refuse to open the young booklet to him.
The bank will provide you with a written document explaining how the booklet works.
Depending on the bank, you receive either a booklet (on which your deposits and withdrawals are recorded) or periodic statements of account showing the transactions carried out.
Your bank can give you a withdrawal card. In general, it can only be used in ATMs (ATMs) on its network.
No fees or commissions shall be charged for the opening, management or closing of the account.
Most institutions require a minimum down payment €10.
Minimum amount of a transaction (payment or withdrawal)
Most institutions require that each transaction be a minimum of €10.
Account balance cannot be negative. In practice, most institutions require a permanent balance of at least €10.
Withdrawals subject to conditions
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Before age 16
You need permission from your legal representative to make withdrawals on your young booklet.
Between 16 and 18 years old
You can withdraw money unless your legal representative objects.
From 18 years
You can make withdrawals alone.
You can contribute to your young booklet by check, cash at the counter or by transfer from a demand account.
As of July 1, 2023, you can make a transfer to your youth booklet from a bank account opened in a different bank than the one where the youth booklet is located.
The ceiling of the booklet is €1,600. This limit can be exceeded when the bank adds interest to the amounts you have deposited.
Rate
The annual interest rate is freely set by the banks. It may not be less than 3%.
Calculation of interest
Interest is calculated on 1er and the 16th of each month.
The date of the value taken into account for the calculation of interest varies according to the date of the transaction (deposit or withdrawal):
Operation | Until the 15th of the current month | From the 16th of the current month |
|---|---|---|
Deposit | 16 of the same month | 1er day of the following month |
Withdrawal | Last day of previous month | 16 of the month |
The sums deposited bear interest if they are invested in whole fortnight.
On December 31 of each year, the interest accrued on the year is added to the capital.
Interest shall be exempt from income tax and social security contributions.
Closed at age 25
You must request the closure of your youth booklet by December 31 of the year of your 25the birthday.
If you do not apply, your bank must close the account itself.
After closing, the bank must transfer the amounts credited in your youth booklet to the account you have designated. If you have not given the bank an account, it must transfer the money to a suspense account.
Closure for failure to comply with opening conditions
If you no longer comply with the conditions set at the opening of your booklet, it will be closed.
After closing, the bank must transfer the amounts credited in your youth booklet to the account you have designated. If you have not given the bank an account, it must transfer the money to a suspense account.
Who can help me?
Find who can answer your questions in your region
Definition and operation of the young booklet
Opening and closing of the youth booklet
Operations carried out on the booklet young and remuneration
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Supervisory and Resolution Authority (ACPR)