Home Savings: 2% Return for New PEL Accounts in 2026

A Compensation Rebound Rooted in Interest Rate Reality

The PEL interest rate is set at 2% for contracts signed from January 1, 2026. This increase aligns with market conditions, particularly swap rates that have been determining returns since the 2011 reform. This adjustment follows several years of stagnation, during which new PELs offered returns of 1.75% in 2025 and 1% between 2016 and 2022.
In February 2026, the government also made adjustments to other regulated products, lowering the Livret A rate to 1.50% while the LEP is at 2.50%. These changes reflect the directives of the Bank of France and calculations based on tobacco-free inflation. However, the PEL remains distinct in its structure: its rate is fixed upon subscription and remains unchanged throughout the contract's duration, offering predictability that other savings accounts do not guarantee. This stability is a significant advantage for savers with long-term goals in the real estate market, even though the interest earned is subject to taxation.

Home savings loan rights: A contextualized asset

Beyond the compensation for savings, the PEL remains linked to mortgage borrowing rights with an interest rate that is set at the time of opening. For contracts signed in 2026, this loan rate is set at 3.20%. This aspect shapes the product's value for households with real estate projects: in a market where credit conditions fluctuate regularly, having a pre-fixed loan rate (without the obligation to use it when the time comes) serves as a strategic arbitrage element. However, this advantage closely depends on the economic climate and market rates at the time the household plans to utilize the credit. If overall rates fall, the pre-fixed rate becomes less attractive. Conversely, if conditions tighten, it represents a significant advantage.

The widespread closure of old PEL accounts reshapes the landscape

The timeline for the closure of PEL accounts opened before March 1, 2011, is starting to take shape as of March 2026. These accounts, with a maximum duration of 15 years, will reach their maturity and gradually disappear from the portfolios of savers. Of the 9 million existing PEL accounts, around 3 million will be closed by 2030, releasing a balance of 93 billion euros out of a total of 202.9 billion.
This wave of closures carries symbolic weight: it marks the end of an era where some holders maintained old PELs earning around 4.5%, remnants of a time with high interest rates now far in the past. The 2011 reform aimed to prevent the accumulation of highly profitable products stagnating in portfolios without an associated real estate project. Now, these old accounts are leaving household assets, requiring holders to reallocate their capital. For new savers considering opening a PEL in 2026, this restructuring means the product is gradually returning to its original purpose: a savings vehicle tied to a real estate project rather than a safe haven investment.