Housing Savings Account – The Assumption of Credit at Preferential Rates

December 16, 2009 by
Filed under: Finance 

The housing savings account is a financial product sure to place the money in the short term. Each person or minor can open one, with a minimum of 300 euros. It can subsequently be fed with payments of at least 75 euros. The ceiling of housing savings account is limited to 15,300 euros and only interest payments on the account can exceed this limit.

Besides bankruptcy of the bank where you opened a savings account housing, it is not possible to lose money with this type of contract.

Withdrawals from a minimum of 15 euros can be made at any time on a savings account housing, provided to allow an amount of EUR 300 times.

The money placed in a savings account housing is poorly paid. The rate is equal to two thirds of the Livret A rate rounded to the quarter point, or 1.75% in 2007. This rate is revised twice a year, on 1 February and 1 August each year. Interest ELC respect the rule of the fortnight and are awarded after December 31 of each year. These interests are added to the capital of CEL and generate additional interest. To withdraw money, wait for 1 or 16 to benefit the interests of the fortnight. In another sense, for an investment of money on your CEL, it is best done before these two dates to get maximum yield.

Remember that a bonus is awarded state if you ask an ELP (loan home savings) account with your home savings. This premium state is equal to half of bank interest limited to 1144 euros per loan. In this case, the total compensation of your savings account housing reached 2.62%.

Finally, interest and premium of State related to a housing savings account are exempt from income tax. Only the interest of the year are subject to removal

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