What are the differences between a PEL and a CEL?

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

The Home Savings Plan (HSP) and the Home Savings Account (HSA) are savings products.

They can allow you to get a favorable loan (and sometimes a state premium) to finance the purchase of a property or to carry out work.

But there are differences between these two devices. We present them to you.

Tableau - Comparison between a PEL and a CEL as a savings product
	PEL	CEL
Initial payment	€225	€300
Ceiling	€61,200	€15,300
Interest rates	1% Attention: the ELP rate has increased to 2% for plans open from 1^er January 2023.	2%
Periodicity of payments	Regular payments of €45 per month or €135 by Quarter or €270 by semester	Free payments of at least €75
Possibility of partial withdrawal of funds	No: a withdrawal leads to the closure of the ELP, which can however be transformed into an ELC	Yes, provided that the balance of the account is at least €300 after withdrawal.
Taxation	Interest taxable on income tax and social security contributions	Interest taxable on income tax and social security contributions

Tableau - Comparison between a PEL and a CEL as a savings product
	PEL	CEL
Initial payment	€225	€300
Ceiling	€61,200	€15,300
Remuneration	1%	2%
Periodicity of payments	Regular payments of €45 per month or €135 by Quarter or €270 by semester	Free payments of at least €75
Possibility of partial withdrawal of funds	No: a withdrawal leads to the closure of the ELP, which can however be transformed into an ELC	Yes, provided that the balance of the account is at least €300 after withdrawal.
Taxation	PEL under 12 years : interest exempt from income tax but subject to social security contributions PEL over 12 years : interest taxable on income tax and social security contributions	Interest exempt from income tax, but subject to social security contributions

Tableau - Comparison between an ELP and an LEC as borrowed product
	PEL	CEL
Time to borrow	4 years	18 months (provided you have accumulated a certain interest value)
Maximum loan	€92,000	€23,000
Length of loan	2 to 15 years	2 to 15 years
Interest rate	1%	2%
What to finance with this loan?	Purchase or construction of their primary (or secondary if new) residence Certain improvements, extensions or repairs

Tableau - Comparison between an ELP and an LEC as borrowed product
	PEL	CEL
Time to borrow	4 years	18 months (provided you have accumulated a certain interest value)
Maximum loan	€92,000	€23,000
Length of loan	2 to 15 years	2 to 15 years
Interest rate	1%	2%
Maximum State premium	€1,000	€1,144
What to finance with this loan?	Purchase or construction of their primary (or secondary if new) residence Certain improvements, extensions or repairs

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