Young booklet

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

The livret jeunesse is a savings product reserved for young people aged 12 to 25 years living in France. All banks can offer it.

To open a young booklet, you must meet the following 3 conditions:

  • Not already holding a young booklet
  • Reside in France as usual
  • Be between 12 and 25 years old

FYI  

you can combine a young booklet with a current account and with other savings books (e.g. booklet A).

To ensure that you can benefit from a young booklet, the bank asks you for the following documents: 

  • Declaration of honor certifying that you reside in France and that you do not already have a booklet for young people
  • Any official document or document establishing your date of birth
  • If you are a minor, the name and address of your legal representative

The bank will provide you with a written document explaining how the booklet works.

Depending on the bank, you receive either a booklet (on which your deposits and withdrawals are recorded) or periodic statements of account showing the transactions carried out.

Your bank can give you a withdrawal card. In general, it can only be used in ATMs (ATMs) on its network.

No fees or commissions shall be charged for the opening, management or closing of the account.

Most institutions require a minimum down payment €10.

Minimum amount of a transaction (payment or withdrawal)

Most institutions require that each transaction be a minimum of €10.

Account balance cannot be negative. In practice, most institutions require a permanent balance of at least €10.

Withdrawals subject to conditions

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Before age 16

You need permission from your legal representative to make withdrawals on your young booklet.

Between 16 and 18 years old

You can withdraw money unless your legal representative objects.

From 18 years

You can make withdrawals alone.

You can contribute to your young booklet by check, cash at the counter or by transfer from a demand account.

As of July 1, 2023, you can make a transfer to your youth booklet from a bank account opened in a different bank than the one where the youth booklet is located.

The ceiling of the booklet is €1,600. This limit can be exceeded when the bank adds interest to the amounts you have deposited.

Rate

The annual interest rate is freely set by the banks. It may not be less than 3%.

Calculation of interest

Interest is calculated on 1er and the 16th of each month.

The date of the value taken into account for the calculation of interest varies according to the date of the transaction (deposit or withdrawal):

Tableau - Date of the value taken into account for the calculation of interest according to the date of the transaction

Operation

Until the 15th of the current month

From the 16th of the current month

Deposit

16 of the same month

1er day of the following month

Withdrawal

Last day of previous month

16 of the month

The sums deposited bear interest if they are invested in whole fortnight.

On December 31 of each year, the interest accrued on the year is added to the capital.

Interest shall be exempt from income tax and social security contributions.

Closed at age 25

You must request the closure of your youth booklet by December 31 of the year of your 25the birthday.

If you do not apply, your bank must close the account itself.

After closing, the bank must transfer the amounts credited in your youth booklet to the account you have designated. If you have not given the bank an account, it must transfer the money to a suspense account.

Closure for failure to comply with opening conditions

If you no longer comply with the conditions set at the opening of your booklet, it will be closed.

After closing, the bank must transfer the amounts credited in your youth booklet to the account you have designated. If you have not given the bank an account, it must transfer the money to a suspense account.

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