POPULAR LIVRET SAVINGS ACCOUNT

An LEP (Livret d’Epargne Populaire) may be opened by any natural person who is a tax resident of France whose reference tax income for the year preceding the taxation year (in 2021, provision of the 2020 tax notice containing the reference tax income for 2019), does not exceed the following limit:

Income to take into consideration for 2021:

The LEP’s rate of return is currently 1% (rate in effect at 01/02/2020) net of taxes and social security contributions (regulated rate).

The ceiling on the Livret d’Epargne Populaire passbook savings account is €7,700, not including interest earned.

There is no contractual term applied to the LEP.

Initial deposit
At opening, you must deposit at least €30 in your LEP passbook savings account.

Subsequent deposits
Subsequent deposits are manual or automatic, with no minimum per transaction.

You are free to make withdrawals from your Livret d’Epargne Populaire passbook savings account with no minimum per transaction.

The amounts paid bear interest from the first day of the fortnight following the payment or transfer (the 16th day of the same month or the 1st day of the following month). The amounts withdrawn cease to bear interest from the first day of the fortnight during which the withdrawal occurs (either 1st or 16th day).

So, to avoid losing a single day of interest, you are advised to make your payments before the 16th or 1st day of the month and your withdrawals after the 15th or 30th day.

For the main tax rules applicable to this product, please visit our Savings Tax area.

You can close your Livret d’Epargne Populaire at any time. Furthermore, the closure of the passbook savings account is immediate:
- In the event of death of the account holder
- In the event of violation of the law (especially the opening of a second Popular Livret Savings Account)
- At 31 March of the following year in the event of an annual failure to present the tax proof, loss of the status of beneficiary entitled to the LEP or a zero balance on the passbook savings account for more than one calendar year.

When opening a Livret d’Epargne Populaire, you must submit your notice of taxation or non-taxation for the previous year (Y-1 Tax notice on Y-2 income).

(1) Rate in force at 01/02/2020.