France PEL Savings Rate: Monthly Rate on New Home-Savings Plans Since 2012

The PEL, or plan d’épargne logement, is a regulated French home-savings account whose interest rate is fixed for the life of the contract at the moment it is opened, and reset by decree for new contracts. This dataset tracks the monthly average rate on newly opened plans, as published by the Banque de France in its MIR1 statistics, from January 2012 to the present across 172 observations. Its defining feature is immobility: the rate sat at 1.01% for 65 consecutive months, from August 2017 to December 2022, before three annual repricings took it to 2.00%.

Dataset: France PEL Savings Rate (2012–2026) · Updated 2026-07-01

Source: Banque de France, Webstat MIR1 · rate on new home-savings plans

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV, Excel and JSON files contain the following columns.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full France PEL savings rate dataset is available in CSV and Excel formats.

Direct CSV Access – Eco3min Structured Dataset

https://eco3min.fr/dataset/fr/fr-pel-rate.csv

This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool. The upstream series is published by the Banque de France through its Webstat portal, in the MIR1 dataset of retail interest rates.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/fr/fr-pel-rate.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.tail())
print(df["pel_rate"].describe())

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/fr/fr-pel-rate.csv"
df <- read_csv(url)

tail(df)
summary(df$pel_rate)

Both examples load the dataset directly from the URL, with no download or API key required.

Methodology

The Banque de France collects retail interest rates from a sample of French credit institutions in its MIR1 statistics, the national contribution to the harmonised euro-area survey of monetary financial institution interest rates. The PEL line reports the average annual rate applied to plans newly opened during the reference month, weighted by volume, which is why the published figure sits a few basis points away from the round administrative rate and drifts slightly from month to month inside a single administrative step.

The Eco3min pipeline pulls the series through DBnomics, which mirrors Banque de France Webstat, and writes the CSV, Excel and JSON files. The full history is regenerated on each run rather than appended, so any upstream revision propagates automatically.

Data Quality & Provider Notes

This is a rate on new contracts, not on the stock. Every PEL opened keeps its rate for the life of the plan, so at any date the population of live PEL contracts carries a wide range of rates, most of them set years earlier. This series describes only what a plan opened this month earns. The average rate across all outstanding plans is a different and much slower-moving quantity.

The figures are averages, not the decree rate. Because the value is volume-weighted across institutions, readings such as 1.94%, 2.22% or 2.24% sit near but not exactly on the administrative rate in force. Small month-to-month movements inside a plateau reflect the mix of institutions reporting, not a change in policy.

Latency and revisions. MIR1 publishes with roughly a two-month lag, which is why the most recent observation trails the current month. The Banque de France revises the series when reporting institutions restate their submissions; because the pipeline rebuilds the whole file, revisions replace history rather than accumulating beside it.

Licence. The Banque de France publishes Webstat data under the Licence Ouverte 2.0 (Etalab), which permits reuse including commercial reuse, subject to attribution of the source.

Historical Regimes

2012–2015 – The 2.53% plateau. The series opens at its all-time high of 2.53% and holds there for 37 consecutive months, from January 2012 to January 2015. This is the tail of the pre-ZIRP regime, when a regulated savings rate above 2.5% was unremarkable.

2015–2017 – The descent. Three successive downward steps take the rate from 2.53% to just above 1%: through 2.03% for most of 2015, 1.58% in the spring of 2016, then 1.05% by the autumn. The move tracks the euro-area shift to negative policy rates.

2017–2022 – The 65-month freeze. The rate reaches its all-time low of 1.00% in June and July 2017, then settles at 1.01% and stays there for 65 consecutive months, from August 2017 to December 2022. No other stretch in the file comes close. For savers this was a fixed 1.01% locked for the life of any plan opened across five and a half years.

2023–2024 – Repricing upward. The January 2023 review lifts the rate to 1.94%, nearly doubling it in a single step, and January 2024 takes it to 2.22%. The 2024 readings, peaking at 2.24% in the autumn, are the highest since early 2015.

2025–2026 – Down, then up again. January 2025 brings the first downward January step of the series, to 1.75%, where the rate holds through the year. January 2026 reverses it to 2.00%, the level at the last observation, which sits at the 62nd percentile of the full history.

Related Macroeconomic Datasets

A regulated savings rate reads against the borrowing side of the same market and against the policy rate that eventually moves it.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Banque de France – Webstat, MIR1 retail interest rate statistics, rate on new home-savings plans, series M.FR.A.L22FRPL.H.R.A.2250U6.EUR.N
• Licence Ouverte 2.0 (Etalab), reuse permitted with attribution to the source
• Eco3min Research – structured dataset compilation

Dataset Reference

Eco3min Research. (2026). France PEL Savings Rate, Monthly Data (2012–2026).<br> https://eco3min.fr/en/france-pel-savings-rate-dataset/