Since August 2022, the housing savings account saw his rate of pay go up. Is that enough to say that it offers more advantages than the ELP? We answer you in this article.
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The evolution of home savings
The housing savings scheme has undergone several improvements since its creation. In 2018, in particular, a reform has made them evolve. The PEL and CEL opened from this date have indeed been subject to some changes.
If before the reform, they were tax exempt, since 2018 the PEL and CEL have become taxable. So what about PEL and CEL opened before 2018? These have also evolved. PELs, in particular, have become taxable.
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Their remuneration as well as that of the CEL have also changed. PELs open since August 2016 saw their rates drop to 1%. As for the CEL, his remuneration fell and then increased. In particular, it fell once in February 2020.
At that time, his compensation was 0.25%. Then, in February 2022, it went to 1.25%. The last increase in the rate dates from August 2022. Since that date, the remuneration of the CEL is 1.25%.
You will surely have understood it, the remuneration of the CEL is now superior to that of the ELP. If we take this parameter alone into account, we can only strongly advise you to choose the first.
Anyway, whether it is the PEL or the CEL, they both have advantages that should not be overlooked. Assets that we will make you discover in the following paragraphs.
The advantages of the ELP
The ELP has several advantages. By opting for the plan, you will be able to place money risk-free and free of charge. Indeed, the sums that you will invest will not only be guaranteed by the government. They will also be exempt from fees on payments and management fees.
The ELP also offers a fixed and guaranteed remuneration throughout its existence. You will know, at the very moment when you open your account, how much this remuneration amounts to.
Note that you can also open an account for your minor child. Only, you will have to, as the law says, make a minimum deposit of 225 euros at the time of creation. Thereafter, you will have to fund this account up to a minimum of 540 euros per year.
The benefits of the ELP don’t stop there. With the plan, you can also take out a home loan. This loan can be used to finance thepurchase or construction of a residence. It can also be used to improve and maintain the home.
In addition, the rate of this loan, for PEL opened since 2016, is 2.20%. Its amount depends on the interest acquired during the first decade and the repayment period that has been chosen. Obviously, for release a substantial loanyou have to save a lot first.
In addition to that, you will have to choose a short repayment term. Also note that the remuneration of open PELs from January 1, 2023 will no longer be the same as it is now. Its rate will indeed drop to 2%.
The benefits of CEL
Like the PEL, the CEL allows you to invest money no risk and no cost. You will be able, thanks to him, to acquire rights to loan. These loan rights offer a big advantage. They also perform better than the PEL.
In addition, you can also open a housing savings account for your minor child. Only, you will have to deposit at least 300 euros at the opening. You will then have to feed it regularly until you release the mortgage.
For information, the home loan from the housing savings account only opens after 18 months. Once this period has elapsed, you can use the loan to buy a residence or carry out work.
As with the PEL, the amount of the CEL depends on the interest earned and the repayment period. The shorter this duration, the greater the amount you will unlock. note that the maximum loan amount is 23,000 euros.
Finally, the CEL, unlike the PEL, does not include no annual payment obligations. It can be fed freely according to your saving capacity.
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