Subsection 1: Popular savings passbook account

The popular savings passbook account is designed to help people on the lowest incomes to invest their savings under conditions that maintain their purchasing power.

A Conseil d’Etat decree defines the operating procedures for this passbook account and in particular the conditions under which companies, establishments or organisations that receive deposits are authorised, for its implementation, to open popular savings passbook accounts for beneficiaries.

This passbook account is reserved for taxpayers whose tax residence is in France and whose income does not exceed the amounts mentioned in I of article 1417 of the General Tax Code multiplied by a coefficient equal to 1.8, the amount obtained being rounded up to the nearest euro. Beneficiaries whose income exceeds the amounts mentioned in the first paragraph of this article for two consecutive years lose the benefit…

Only one passbook account may be opened per taxpayer and one for the taxpayer’s spouse or partner in a civil solidarity pact.

The prohibitions of article L. 112-2 do not apply to the remuneration of popular savings deposits when they meet the stability conditions, which are set at six calendar months.

Transactions relating to people’s savings passbook accounts are subject to documentary and on-site inspections by the Inspectorate General of Finance.