The Housing Savings Plan (PEL) has long been the darling of French people looking for a first property purchase.
But did you know that PELs opened before 2018 conceal unsuspected treasures?
These old savings plans, sometimes forgotten at the bottom of a drawer, could well be your goose that lays the golden eggs.
Let's discover together why these PELs from another era still make financial experts dream in 2025.
The magic of interest rates frozen in time
One of the major advantages of old PELs lies in their interest rate. Unlike the new plans, PELs opened before 2018 benefit from a rate fixed at opening and guaranteed over the entire duration of the contract. This particularity makes them particularly attractive in the current economic context.
Let's compare for a moment:
- PEL opened in 2016: rate of 1.5% guaranteed
- PEL opened in 2025: rate of 1% (subject to variation)
This difference may seem small, but in the long term, it can represent hundreds or even thousands of euros in additional interest. Enough to make informed savers think!
Taxation with little onions
Taxation is often the nightmare of savers. However, holders of old PELs can sleep soundly. In fact, PELs opened before March 1, 2011 benefit from preferential treatment:
Income tax exemption for the interests of the first 12 years. A significant advantage which allows you to maximize the return on your savings.
Certainly, since January 1, 2018, social security contributions of 17.2% apply each year. But compared to the taxation of the new PELs, it’s still holy bread.
The State bonus: the icing on the cake
Ah, the famous state bonus! This reward, so coveted by savers, is still accessible for PELs opened before 2018. Here is how it works:
- Its amount depends on the interest acquired
- It varies depending on the opening date of the PEL
- It is exempt from income tax (but subject to social security contributions)
To obtain this bonus, you must meet certain conditions, in particular using your PEL to finance a real estate project. This is a significant bonus which can reach up to 1,525 euros for the luckiest.
Flexibility and duration: time is on your side
Old PELs offer appreciable flexibility in terms of duration and withdrawal conditions:
- Minimum duration of 4 years
- Possibility of extension up to 10 years
- Withdrawal possible without penalties after 4 years
This flexibility allows savers to adapt to life's ups and downs without compromising their savings plan. A valuable asset in a constantly changing world.
-The home savings loan: a boost for your real estate project
One of the most attractive advantages of old PELs is undoubtedly the home savings loan. This advantageous rate loan can be used for:
- Buying real estate
- Building a house
- Work on the main residence
With a maximum amount set at €92,000 and particularly attractive rates for PELs opened before 2018, this loan can make all the difference in the realization of your real estate project.
Transmission and inheritance: a PEL can be shared
Your PEL is not stuck for life in your original bank. You have the possibility to:
- Transfer your PEL to another bank
- Give it to a member of your family
In the event of the death of the holder, an heir can even take over the PEL, under certain conditions. A way to perpetuate the advantages of these old PELs across generations.
Faced with competition: does the old PEL hold up?
In 2025, the savings landscape has evolved significantly. How do old PELs stack up against current alternatives?
| Savings product | Benefits | Disadvantages |
|---|---|---|
| PEL old | Guaranteed rate, advantageous taxation, state bonus | Limited liquidity |
| Booklet A | Immediate availability, tax exemption | Low rate |
| LDDS | Similar to Booklet A, ecological orientation | Limited ceiling |
| LEP | Attractive rate, tax exemption | Income conditions |
| Life insurance | Diversification, advantageous taxation after 8 years | Variable returns, management fees |
Despite competition, old PELs retain unique assets, particularly for medium and long-term real estate projects.
The well-kept secrets of the PELs of yesteryear
Beyond the obvious advantages, PELs opened before 2018 hide some little-known gems:
- Ratchet effect : the interest acquired is definitively acquired, even in the event of a drop in rates
- Cumul possible : you can hold an old PEL and open a new PEL
- Transferable loan rights : you can transfer your loan rights to a loved one
These particularities make old PELs real treasures for savvy savers.
Strategies to optimize your old PEL
If you are the lucky holder of a PEL opened before 2018, here are some tips to get the most out of it:
- Hold it until it expires to take full advantage of the interest
- Use it as input for a real estate project
- Combine it with other savings products to diversify your assets
- Consider passing it on to your children to perpetuate its benefits
By adopting the right strategy, your old PEL can become a real lever for your future projects.
The uncertain future of PELs: one more reason to cherish the old ones
In 2025, the future of PELs is more uncertain than ever. Rumors of reforms are increasing, leaving doubt about the future of this savings product. In this context, PELs opened before 2018 appear to be real sanctuaries, preserving advantages that future savers may never experience.
Faced with these uncertainties, holders of old PELs have every interest in keeping them carefully. These savings products, witnesses of a bygone era, could well become the last bastions of generous regulated savings. A heritage to be passed on, perhaps, to future generations.
Ultimately, PELs opened before 2018 turn out to be much more than just a savings product. They are the product of an era when the state actively encouraged homeownership. Today, these old PELs are survivors in a constantly changing financial landscape. For their lucky owners, they represent a unique opportunity to benefit from advantages that the current market struggles to match. A treasure to be preserved, cherished and used judiciously to realize your real estate projects and ensure your financial future.
