The Minister of the Economy, Bruno Le Maire, announced it: the rate of the PEL will double, going up to 2% on January 1, 2023. Specificity of the housing savings plan: this return only applies to PEL opened in 2023. Want to take advantage of the deal? Here’s what you can win.
The first increase in the rate of the housing savings plan in 22 years old. Bruno Le Maire insists in the press release issued on December 8 on the event that constitutes this doubling of the rate of the PEL.
Before rushing to open a housing savings plan, or closing your current 1% PEL to open a new one, you must not forget that this plan is synonymous with strong constraints: blocked savings, regular payments, earnings subject to income tax, etc. To counterbalance these constraints, the PEL has an advantage: a guaranteed return of 2% for the life of the plan, regardless of changes in interest rates.
What would a PEL, open at the start of 2023 and on which you have put the bare minimum, that is to say the 225 euros regulation at the opening? Just over 770 euros.
| Date | Operation | Pay |
|---|---|---|
| Early January 2023 | Opening | + 225 |
| Each month | Automatic payment | + 45 |
| December 31, 2023 | Gross annual interest | + 9.48 |
| December 31, 2023 | Flat tax (30%) | – 2.84 |
| January 1, 2024 | 771.64 |
Calculation of interest per fortnight. More info: interest calculation.
In detail, you open your housing savings plan at the earliest in 2023, with the legal minimum. Your banker then asks you when to schedule regular payments. Say, on the 28th of every month, just the minimum of 45 euros (1). Progressive and monthly savings, which you obviously cannot withdraw.
End of 2023, your annual interest is not calculated with the equation 2% of 765 euros, total amount of payments over the year. If the calculation were so simple, you would receive more than 15 euros gross. But interest is calculated on a daily or fortnightly basis. In other words, the payments at the end of the year will only have worked over a short period of time and therefore bring you much less than the initial bet which it generated interest for the whole year. For example, the payment of 45 euros scheduled for December 28, 2023 will earn you no interest for the year 2023. This is the reason why you earn less than 10 euros in gross interest…
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And again, remember that these gross interests are subject to the flat tax 30%, i.e. 17.2% social security contributions + 12.8% income tax. Either 6.64 euros in net interest for the year 2023, after flat tax. Since 1.21 euro feed the income tax (2) and €1.63 is deducted for social security contributions.
Verdict? Over a year, saving regularly on a Livret A, its false twin the LDDS or (better) an LEP will obviously be much more profitable. No need to make a calculation: the Livret A now brings in 2% net, totally tax-free. And probably 3% or more as of February.
Livret A, PEL, LEP: here are the rate increases that await you in 2023
The PEL, an investment to bet on the hard way
But beware! Limiting the PEL to these meager 6.64 euros net of annual interest would be dishonest. Because we must not forget the constraint of the duration of detention. You must keep your PEL for at least 2 years to keep your interest, otherwise it is recalculated at the rate of the home savings account.
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The PEL remains a project savings product, medium or long term, which requires you to make regular savings efforts. After 2 yearsdj, a minimum bet takes on another relief.
| Date | Operation | Pay |
|---|---|---|
| January 1, 2024 | 771.64 | |
| Each month | Automatic payment | + 45 |
| December 31, 2024 | Gross annual interest | + 20.41 |
| December 31, 2024 | flat tax | – 6.12 |
| January 1, 2025 | 1325.93 |
Simplified calculation. More info: interest calculation.
The PEL then becomes a bet on the future: a rate of 2% gross could be ridiculously low in the short term in the face of galloping inflation… and again become a boon in a few years if the rates go down again. By remaining at this rate, paying the legal minimum for 10 yearsuntil January 2033your PEL will wait 6048.94 euros. You will then have accumulated 5625 euros in payments. And 423.94 euros in total interestincluding almost 80 euros in net interest for the 10th year of the plan’s existence alone.
Housing savings plan: who was interested in opening the new 2% PEL?
(1) Or 270 euros per semester.
(2) Except tax exemption.
NB. To simplify, the editorial staff has calculated the annual interest per fortnight, taking into account the first half of January, which is unlikely for an opening at the very beginning of January. Many banks calculate the interests of the PEL on a day-to-day basis: the simplified result here remains approximate.