Savings accounts and booklets: what are the differences?
Verified 01 August 2025 - Directorate of Legal and Administrative Information (Prime Minister)
Name | Audience concerned | Minimum | Ceiling | Availability | Interests | Taxation |
|---|---|---|---|---|---|---|
All public | €10 | Individual: €22,950 Association: €76,500 | Funds available | 1.7% | Exemption from income tax and social security contributions | |
Adult person | €15 | €12,000 | Funds available | 1.7% | Exemption from income tax and social security contributions | |
Low-income earner | €30 | €10,000 | Funds available | 2.7% | Exemption from income tax and social security contributions | |
12-25 years | €10 | €1,600 |
| 1.7% minimum | Exemption from income tax and social security contributions | |
All public | €300 at the opening +€75 during life | €15,300 | Funds beyond €300 available | 1.25% + reduced rate loan and state premium | Income tax (since 2018) and to social security contributions | |
All public | €225 at the opening and €540 per year up to 10 years | €61,200 | Funds available, but if withdrawn in the first two years, interest is reduced to the CEL rate. | Variable according to the opening date of the ELP + reduced rate loan and state premium | Income tax (PEL open from 2018) and to social security contributions | |
Popular Retirement Savings Plan (Perp) product now replaced by the RIP | 18-75 years | Fixed by the financial institution | No payment limit, but tax deductibility limit for contributions |
| Life annuity or life annuity + capital | - Life annuity taxed as retirement - Capital taxed at the flat rate of 7.5% or the scale |
All public | Fixed by the financial institution | No ceiling | Funds not available before the term, otherwise no interest | Fixed by the bank (fixed, progressive or variable rate) | Taxation at income tax and to social security contributions | |
All public | Free payments | No ceiling | Funds available | Fixed by the bank: between 0.2% and 1.5% for ordinary passbooks and up to 4% for superpassbooks (limited period) | Taxation at income tax and to social security contributions |
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Interest rates for the period from August 1, 2025 to January 31, 2026
Open ELP interest rate from January 1, 2025