Home Savings Loan from Home Savings Plan (PEL)

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

If you have had a home savings plan (HSP) for 4 years, you can take out a home savings loan. This loan is to be used to finance the purchase or construction of housing or real estate works. The characteristics of the loan (eligible expenditure, interest rate, payment or non-payment of a premium) depend on the date of opening of the ELP.

What applies to you ?

FYI

it is also possible to obtain a home savings loan from a home savings account (CEL).

Loan saves housing can be used to do any of the following:

Purchase of the main residence (new or old)
Construction of the main residence (land purchase and construction work)
Expansion, repair or improvement of the main residence (elevation, energy saving, facade renovation of a condominium building...)
Acquisition of shares in residential civil real estate investment businesses (CREPS)

Have a PEL

To be eligible for a loan, you must have a housing savings plan (PEL).

It is possible to apply for a loan at the end of the 3^e ELP year.

An ELP is eligible for only one loan.

FYI

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

Where to apply for the loan?

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

Before granting you the loan, the bank, as for the other loans for house purchase, may have the following requirements:

They can claim a warranty from you (bank guarantee or agreement mortgage or legal social mortgage of the money lender). The type of collateral claimed varies from bank to bank.
It may require you to take a borrower insurance (the characteristics of the borrower insurance required vary from bank to bank.)

But they can't force you to reside your income in their facility.

The maximum loan amount is €92,000.

The amount of the loan granted to you depends in particular on the amount of interest earned on the PEL. We're talking about loan entitlements.

FYI

loan entitlements usually appear on the statement of account.

If someone in your family has an ELP, they can decide to take you to assign his rights to a loan. You will then be able to get a larger loan, but limited to €92,000.

Reminder

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

The term of the loan can be from 2 to 15 years.

The interest rate on the loan depends on the date on which the PEL was opened.

Tableau - Interest rate on the loan according to the date of opening of the ELP
Date of opening of the ELP	Interest rate on the loan
Between March 2011 and January 2015	4.20%
Between February 2015 and January 2016	3.20%
Between February 2016 and July 2016	2.70%
Since August 2016	2.20%

PEL opened since 2018

PEL opened since 1^er January 2018 does not qualify for the State premium.

PEL opened between August 2016 and December 2017

The State premium is paid only if the ELP interest entitles you to a €5,000 minimum.

The amount of the premium corresponds to 100 % of the interest earned, but does not exceed €1,000.

The premium is increased according to family expenses.

The increase is 10% of the amount of interest earned, with a ceiling of €100 per dependent. The ceiling shall be raised to €153 where the property project financed is an energy performance project.

PEL opened between February and July 2016

The State premium is paid only if the ELP interest entitles you to a €5,000 minimum.

The amount of the premium corresponds to 2/3 of the interest earned, without exceeding €1,000.

The premium is increased according to family expenses.

PEL opened between February 2015 and January 2016

The State premium is paid only if the ELP interest entitles you to a €5,000 minimum.

The amount of the premium is 50% vested interests, but not exceeding €1,000.

The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.

ELP opened between March 2011 and January 2015

The State premium is paid only if the ELP interest entitles you to a €5,000 minimum.

The amount of the premium is 40% vested interests, but not exceeding €1,000.

The ceiling of the premium shall be increased to €1,525 whether the housing project financed is an energy performance project.

It is possible prepay the loanin whole or in part.

The home savings loan can be used to do one of the following:

Purchase of the main residence (new or old)
Construction of the main residence (land purchase and construction work)
Expansion, repair or improvement of the main residence (elevation, energy saving, facade renovation of a condominium building...)
Acquisition or subscription of shares of SCPI (civil residential real estate investment Businesses)
Construction or acquisition of a secondary residence (in the new)
Renovation or extension of a secondary residence
Acquisition of a residence for leisure or tourism

Have a PEL

To be eligible for a loan, you must have a housing savings plan (PEL).

It is possible to apply for a loan at the end of the 3^e ELP year.

An ELP is eligible for only one loan.

FYI

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

Where to apply for the loan?

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

Before granting you the loan, the bank, as for the other loans for house purchase,

may require a warranty (bank guarantee or mortgage of the property or money lender privilege). The type of collateral claimed varies from bank to bank.
may require you to take a borrower insurance (the characteristics of the borrower insurance required vary from bank to bank),
cannot require you to reside your income in his establishment.

The maximum loan amount is €92,000.

The amount of the loan you receive depends on your loan entitlements, i.e. the amount of interest earned on the ELP.

If someone in your family has an ELP, they can decide to take you to assign his rights to a loan. You will then be able to get a larger loan, but limited to €92,000.

Reminder

if you have a PEL and a CEL open in the same bank, you can get 2 home savings loans (1 PEL loan and 1 CEL loan), but you will not be able to get more than €92,000 in total.

The term of the loan can be from 2 to 15 years.

The interest rate on the loan is 4.20%.

A state premium is paid to you when you use your PEL to obtain a home savings loan.

The amount of the premium shall be calculated on the basis of the interest earned on the PEL. It is equal to 40% the interest obtained, but not exceeding €1525.

It is possible prepay the loanin whole or in part.