SAVINGS

There are many different types of savings accounts available in France. Most of them have very specific regulations that determine such things as the level of interest that you receive, or the amount of time you are required to leave your money with the bank before you are able to withdraw it. Some types of savings accounts are only available to people who fulfil special criteria and may depend on your tax residency status.

The range of savings accounts offered by many banks includes:

• Livret jeune: A young person's account, reserved for those aged 12 – 25.
• Livret A: The most popular savings account in France.
• Livret B or Compte sur Livret: The interest rate on this type of account is not regulated by the state.
• Livret de Développement Durable: The amount of deposit is generally limited to a maximum of €6,000.
• Livret d'epargne populaire (LEP): A special account for those on lower incomes.

There are also special accounts for saving to buy a home or property:

• Compte Epargne Logement (CEL)
• Plan Epargne Logement (PEL)

These accounts require that you keep your money with the bank for a certain period of time before you are allowed to access it.

Those information are valid in 2008.