Deciding to put money aside at an early age is a wise choice to ensure a solid financial future. The Livret Jeune, designed specifically for people aged 12 to 25, is an ideal way to start saving. Find out more about the Livret Jeune.

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1. Who can open a Livret Jeune?

Anyone between the ages of 12 and 25 can open a Livret Jeune, enabling them to build up their first savings. Only one passbook is accepted per person.

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2. What is the youth passbook ceiling?

The youth passbook cannot exceed €1,600; however, the interest earned can exceed this.

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3. How does the Livret Jeune work?

Opening a Livret Jeune involves no risk for the holder. All you need to do to open a Livret Jeune is deposit at least €10. Thereafter, you are free to deposit amounts as you wish and at your own pace, while respecting the minimum deposit of €10. Once the ceiling has been reached, it is no longer possible to make payments into the savings account. However, the interest rate continues to rise, allowing you to exceed the maximum amount authorized. As far as withdrawals are concerned, you have the option of withdrawing all or part of your savings instantly (depending on your bank s policy).

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4. How is it remunerated?

The interest rate is 3%. We recommend that you take the fortnightly rule into account when calculating interest: deposit money on the 30th or 15th of the month, and make withdrawals on the 1st or 16th of the month. The interest accumulated over the year is then added to the capital on December 31. So, by following this method, it s possible to exceed the Livret Jeune ceiling.

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5. Do I have to declare anything?

As the holder of a Livret Jeune, you have nothing to declare to the tax authorities. Amounts paid in or withdrawn and interest income are exempt from income tax and social security contributions.

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