Livret d’Epargne Populaire or LEP savings account

-A +A

Regulated savings product available only to individuals whose tax residence is in France and whose income tax does not exceed an amount which is revised each year. The funds deposited into an LEP are available at any time. The term of an LEP is unlimited so long as the tax ceiling requirement is met. However, it may be closed at any time by the account holder. Only one LEP account may be opened per taxpayer plus one for his/her spouse. Children included in the tax household may not hold this type of account. The interest paid on an LEP account is tax-exempt. The maximum amount of deposits is €7,700.

 

Source: Banque de France