Everything on the Livret jeune

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Young, a reserved savings booklet for 12-25 year-olds

For young people from 12 to 25 years, fasting booklet is totally tax-free. It allows to save up to EUR 1 600 at an attractive rate. The funds are available at any time.

Attractive earnings and very favourable tax
  • Remuneration of 2.00 %(1) net per year.
  • Fully exempt interest income tax and social security levies.
  • Possible payments up to EUR 1 600 of deposit.
Flexible savings
  • The funds are available at any time, without charge or penalty and can be removed by transfer at the ATM or by map.
  • Possible, ad hoc or permanent payments with click regular.
  • For those less than 18 years, the map Generation by Société Générale allows withdrawals in ATMs of Société Générale.
(1) annual nominal rate net of income tax and social security contributions, into force on 01/08/2015.

Holder

  • Any person physics resident in France and aged 12 to 25 years.
  • A single booklet young per person, at Société Générale, or in another institution.
  • No joint account opening.

Open an account boursorama

Duration

From 12 years old and until December 31 of the year of the 25th anniversary of the holder.
Payments and withdrawals
  • Ceiling of payments: 1 600 EUR, excluding interest capitalized.
  • Minimum balance: EUR 10.
  • Minimum periodic payment: EUR 15.
  • Withdrawal and timely payment: minimum EUR 10.

Remuneration

  • 2.00% net per annum (1).
  • Calculation of interest biweekly.
  • Interest capitalized on 31 December and credited early January.

The rate of pay may vary according to the banking institutions, since the banks are free to define compensation served provided it is at least equal to that of the livret A. 1 January 2014 the remuneration was between 2.25 and 3.25 %1 for a libretto in 1.25%.

Availability

Total and immediate, without charge or penalty (2).

Taxation

Exempt interest income tax and social security contributions.

Payments and withdrawals

 

Payments

  • Payment to the opening: minimum EUR 10.
  • Free payment: minimum EUR 10.
  • Ceiling of payment: 1 600 EUR excluding interest capitalized. This ceiling may be exceeded only by the single annual capitalisation of interest entry.
  • Minimum periodic payment 15 in most banks

withdrawals

If you have less than 16 years old, you need the permission of your representative legal to make withdrawals on your young libretto.

If you are aged 16-18, you can make withdrawals unless your your legal representative opposes.

Statements of account

  • A monthly statement is sent to you if the booklet young has worked in the past month.
  • A record is systematically sent to you in January, with annual interest capitalized.
(1) annual nominal rate net of income tax and social security contributions, into force on 01/08/2015.
The interest is calculated per fortnight and credited to fasting booklet each year beginning January and forthright themselves interests.
(2) savings available at any time subject to maintain a minimum balance of EUR 10 to prevent its closure.
Rates and conditions in force at 01/08/2015.

FAQ

Who can open a Livret jeune?

To open a young booklet, you must complete the following 3 conditions:

  • Do not already hold a young booklet
  • Reside in France on a regular basis
  • Be aged 12-25 years

Namely:

You can earn a young booklet with other savings books (e.g. the livret A).

To ensure that you can benefit from a young booklet, the Bank asks including the following documents:

  • Declaration on honour certifying that you live in France and you do not already have a young booklet
  • Any document or official act establishing your date of birth
  • If you are minor, name and address of your representative legal

The Bank gives you a written document that explains how works the livret jeune.

If I'm underage how it works?

If you have less than 16 years old, you need the permission of your representative legal to make withdrawals on your young libretto.

If you are aged 16-18, you can make withdrawals unless your your legal representative opposes.

How does biweekly earnings?

 

The Fund must remain continuously on fasting booklet for a specified period to generate interest: from the 1st to the 15th of the month included, or from 16 to the last day of the month included.
These interests are credited only once on fasting booklet in January of the following year.
They have added to the already placed capital and can then make it exceed the ceiling on payments of EUR 1 600 for fasting booklet.

To collect the maximum amount of interest: make your payments at the end of fifteen and realize your withdrawals at the beginning of fortnight.
If you deposit your money the 1st two weeks of the month, reported you interest from the 16th of the month. If you drop it in the 2nd half, the interest shall be calculated from the 1st of the following month.
Example: you pay a sum of money on 10 February, the interest shall be calculated from February 16.
If you make a withdrawal during the 1st half of the month, this sum stops earn interest from the 1st of that month. If you make your withdrawal in the 2nd half, your money produces more interest from the 16th of the month.
Example: you withdraw your money on 5 February, the interest shall be calculated until 31 January.

What is a "payment limit"?

 

Certain regulated investments are capped. This means that the total amount of the payments is therefore limited. Thus, you cannot pay more than 1 600 EUR on a youth booklet.

When your booklet has reached its ceiling, deposited checks or on scheduled payments are automatically rejected and re-credited to your personal account.
The interests of the year come on the other hand add to the existing capital and can then make it exceed the ceiling on payments
Example: You have 1 580 EUR on a youth booklet. Your payment programmed of EUR 50 is there will not be credited since the ceiling is EUR 1 600. You can then ask the sum of €20 to be paid on your young booklet, and that your future payments are assigned to another account. Your agency Advisor will be able to present you all the possibilities of savings that are available to you.

Can we have a RIB on a young libretto for there turn 1 salary?

Young booklets do not allow to get RIB in most banks (although there is an account number and that it is possible to make an external transfer or account to account), excess would pose problems because if you have for example € 500 salary and your account already € 1200 get.. .nothing.

And levies?

It is almost impossible to make the transfer or to establish a list of pre-authorized libretto.

What is RIB RICE RIP?

Spoken record of Bank identity (RIB) for a given by a bank record of postal identity (RIP) for a given by the Postal Bank, and record of identity of savings (RICE) to an account held by a fund savings.

History

Established in 1996 to expand the banking offering dedicated to teenagers and young adults, the livret jeune is quickly becoming a form of popular current savings.

Statutory instruments on the livret jeune

The Code monétaire et Financier, articles L221-24 and following (legislative part) and articles R221-76 et seq. (regulatory part).

 

from other sources

https://www.service-public.fr/particuliers/vosdroits/F2904

 

 

Julien Floer

Written by

Auteur du site http://richesse-et-finance.com , financier et une envie de réussir!

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