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Home Savings Loan from a Home Savings Plan (LIP)
Verified 01 January 2023 - Directorate for Legal and Administrative Information (Prime Minister)
If you have held a Home Savings Plan (LIP) for 4 years, you can benefit from a Home Savings Loan. This loan is intended to finance the purchase or construction of a dwelling or real estate. The characteristics of the loan (eligible expenditure, interest rate, payment or not of a premium) depend on the date of opening of the LIP.
What applies to you ?
FYI
it is also possible to get a home savings loan from a home savings account (LEC).
Open since 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)
Have an ELP
To qualify for a loan, you have to have a home savings plan (LIP).
It is possible to apply for a loan at the end of the 3e year of the ELP.
An ELP is eligible for only one loan.
FYI
if you have an ELP and CEL open in the same bank, you can get a loan from your LIP and a loan from your CEL. But you won't be able to get more €92,000 in total.
Where to apply for the loan?
Normally, you have to apply for the loan at the bank where you have your LIP. However, you can choose to ask another bank.
Before you grant the loan, the bank, as for other loans, may have the following requirements:
- It can ask you for a guarantee (bank guarantee or mortgage agreement or lender of money's social legal mortgage). The type of guarantee sought varies from one bank to another.
- It may require you to take a borrower insurance (The characteristics of the borrower insurance required vary from bank to bank).
But it can't force you to live your earnings in its establishment.
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 LIP. We talk about loan rights.
FYI
loan rights usually appear on the statement of account.
If a member of your family has an ELP, they can decide on you assign rights. You will then be able to obtain a loan of a higher amount, but capped at €92,000.
Reminder
if you have an ELP and CEL open in the same bank, you can get a loan from your LIP and a loan from your CEL. But you won't be able to get more €92,000 in total.
The term of the loan can be from 2 to 15 years.
The interest rate of the loan depends on the date on which the LIP was opened.
Opening date of the ELP | Loan interest rate |
|---|---|
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% |
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Open since 2018
The PEL opened from 1to January 2018 does not qualify for the state premium.
ELP open between August 2016 and December 2017
The state premium is paid only if the interest of the LIP entitles you to a real estate loan. €5 000 minimum.
The amount of the premium shall be equal to 100 % of the interest earned, but shall not exceed €1,000.
The premium is increased according to family expenses.
The increase is 10% the amount of interest earned, with a maximum of €100 per dependant. The ceiling is increased to €153 when the funded real estate project is an energy performance project.
PEL open between February and July 2016
The state premium is paid only if the interest of the LIP entitles you to a real estate loan. €5 000 minimum.
The amount of the premium shall be 2/3 of the interest earned, not exceeding €1,000.
The premium is increased according to family expenses.
The increase is 10% the amount of interest earned, with a maximum of €100 per dependant. The ceiling is increased to €153 when the funded real estate project is an energy performance project.
PEL open between February 2015 and January 2016
The state premium is paid only if the interest of the LIP entitles you to a real estate loan. €5 000 minimum.
The amount of the premium corresponds to 50% vested interests, not exceeding €1,000.
The ceiling on the premium shall be increased to €1,525 if the funded real estate project is an energy performance project.
ELP open between March 2011 and January 2015
The state premium is paid only if the interest of the LIP entitles you to a real estate loan. €5 000 minimum.
The amount of the premium corresponds to 40% vested interests, not exceeding €1,000.
The ceiling on the premium shall be increased to €1,525 if the funded real estate project is an energy performance project.
It is possible to repay the loan early, wholly or partially.
Open between 2003 and February 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 an ELP
To qualify for a loan, you have to have a home savings plan (LIP).
It is possible to apply for a loan at the end of the 3e year of the ELP.
An ELP is eligible for only one loan.
FYI
if you have an ELP and CEL open in the same bank, you can get a loan from your LIP and a loan from your CEL. But you won't be able to get more €92,000 in total.
Where to apply for the loan?
Normally, you have to apply for the loan at the bank where you have your LIP. However, you can choose to ask another bank.
Before you grant the loan, the bank, as for other loans,
- can ask for a guarantee (bank guarantee or mortgage on property or money lender privilege). The type of guarantee sought varies from one bank to another.
- may require you to take borrower insurance (the characteristics of the borrower insurance required vary from one bank to another),
- cannot force you to relocate your income to its establishment.
The maximum loan amount is €92,000.
The amount of the loan granted to you depends on your rights ready, i.e. the amount of interest earned on the ELP.
If a member of your family has an ELP, they can decide on you assign rights. You will then be able to obtain a loan of a higher amount, but capped at €92,000.
Reminder
If you have a PEL and a CEL open in the same bank, you can get 2 home savings (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 loan interest rate is 4,20%.
A state premium is paid to you when you use your LIP to obtain a home savings loan.
The amount of the premium is calculated from the interest earned on the LIP. It is equal to 40% of the interests obtained, but not exceeding €1,525.
It is possible to repay the loan early, wholly or partially.
Who can help me?
Find who can answer your questions in your region
- Construction and Housing Code: Articles L315-1 to L315-6Housing Savings
- Construction and Housing Code: sections R315-7 to R315-15Allocation of loans
- Construction and Housing Code: sections R315-34 to R315-38Allocation of loans
- Construction and Housing Code: sections R315-39 to R315-40-1Withdrawal of funds and savings premiums
- Decree of 25 February 2011 on the LIP Home Savings Premium and its increase
- Order of 1 April 1992 laying down the conditions for home savings transactions specific to the ELP and ELC scheme
- Order of 29 July 2003 on the interest rate on LIP deposits and the amount of the premium for the scheme of housing savings plans
- Housing Savings Plan (LIP)Service-Public.fr
- Home Savings Loan from a Home Savings Account (LEC)Service-Public.fr
- LEC and LEC LoanFinance for All
- ELP and State PremiumFinance for All
