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Home Savings Loan from a Home Savings Account (LEC)

Verified 01 January 2023 - Directorate for Legal and Administrative Information (Prime Minister)

Having a Home Savings Account (LEC) can help you get a home savings loan. This loan is to be used to finance the purchase or construction of a dwelling, or works in a dwelling. The characteristics of the loan (interest rate, whether or not a premium is paid), depend on the date of opening of the CEL.

FYI  

it is also possible to get a home savings loan from a home savings plan (LIP).

The situation varies depending on the date of opening of the CEL.

CEL open from 1 March 2011

Home Savings Loan can be used to perform any of the following:

  • Purchase of the main residence (in the new or in the old)
  • Construction of the main residence (land purchase and construction)
  • Work to extend, repair or improve the main residence (elevation, energy saving, facade overhaul of a condominium building...)
  • Acquisition of units in residential real estate investment businesses (CITS)
CEL opened before 1 March 2011

The Home Savings Loan can be used to carry out one of the following:

  • Purchase of the main residence (in the new or in the old)
  • Construction of the main residence (land purchase and construction)
  • Work to extend, repair or improve the main residence (elevation, energy saving, facade overhaul of a condominium building...)
  • Acquisition or subscription of units of SCPI (civil real estate investment Businesses) for residential purposes
  • Construction or acquisition of a secondary residence (in the new)
  • Renovation or extension of a secondary residence
  • Acquisition of a leisure or tourist residence

Have a CEL

To get home savings loanyour Home Savings Account (LEC) shall:

  • be open for at least 18 months
  • and must have produced a minimum amount of interest, the amount of which depends on your project to finance.
Tableau - Minimum amount of interest eligible for the home savings loan

Project to finance

Minimum interest amount

Energy-saving work

€22.50

Repair or improvement work

€37

Construction or purchase of housing

€75

Which bank?

In principle, you have to apply for the loan at the bank where you have your CEL. However, you can choose to ask another bank.

Before you grant the loan, the bank, as for other loans ::

The amount of the loan depends on its duration and the interest earned during the savings phase.

Its maximum amount is €23,000.

Please note

if you accumulate a loan linked to an LEC with the one obtained through a PEL, the maximum amount of the total loan may not exceed €92,000.

FYI  

if you have a CEL and PEL open in the same bank, you can get a loan from your CEL and a loan from your LIP. But you won't be able to get more €92,000 in total.

The loan term is 2 to 15 years.

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CEL opened since 2018

The interest rate of the loan depends on the period during which you have saved on your CEL.

Your CEL does not qualify for the state premium.

CEL open before 2018

The interest rate of the loan depends on the period during which you have saved on your CEL.

You can benefit from a state bonus at the end of the savings period.

The premium is equal to 50% interest earned and taken into account in calculating the loan. Its maximum amount is €1,144.

This premium is exempt from income tax, but is subject to social levies.

A loan obtained with an LEC may also be prepaid.

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