Now easier to open, the popular savings account allows you to benefit from a rate of return of 1% per year.

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IStock / City Presse

Less known than the livret A, the popular savings account is a financial product for people with modest incomes.

While only 8.7 million LEP were open at the end of 2017, the French Banking Federation recalls that more than 40% of French people can have access to it, at the rate of one passbook per person, within the limit of two per tax household. .

An advantageous product

The popular savings account can be considered as a complement to the livret A. It has a lower ceiling, limited to 7,700 euros, but has a higher remuneration, set at 1% on August 1, 2020, against only 0.5 % for its competitor.

Easy to use, this product allows you to deposit and withdraw money at any time and can be opened with a first payment of 30 euros.

Like the livret A, the LEP is tax exempt.

This regulated portfolio is only accessible on condition of income.

In 2021, a single person without children (1 part of the family quotient) must therefore display a reference tax income of less than 20,017 euros on his 2020 tax notice. The ceiling rises to 30,705 euros for a married or civil partnership without children, against 36,049 euros if he has a dependent child.

No more proof

LEP was hitherto weighed down by tedious administrative management.

At the time of opening, it was necessary to produce its tax notice to certify compliance with the means test.

Even more, you had to provide new proof each year to prove to your bank that you still had a reference tax income below the required limit.

Failure to act on time, you risked the closure of your account.

But the law on the acceleration and simplification of public action (ASAP) of December 7, 2020 has changed the situation.

Since January 1, 2021, it is the banking establishment itself which must undertake these verifications with the tax administration when opening a LEP and once a year for those who already have one. holders.

In addition, if you hold a LEP and your resources have exceeded the required ceiling during a year, you can keep this booklet if your income falls below the threshold the following year.

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