The essentials

The best financial conditions to become a property owner

Thanks to the épargne logement account and to the State of Geneva, you can constitute an initial savings balance at a very attractive rate. In this way you will obtain the best financial conditions for mortgage.

The role of the State of Geneva

The State of Geneva opens a bonus account with the State Treasury in the name of each épargne logement account holder. Each year, over a maximum period of 10 years, the account is credited with a sum which is equal to the interest on the capital saved, but with a maximum of:

• the credit of a sum equal to that of the interest on the capital saved
• but with a maximum of 
  • CHF 600/year if the holder is a minor
  • CHF 1,200/year if the holder has reached the age of majority

Withdrawal conditions

No notice is required for the purchase of a main residence, in accordance with the conditions laid down by law. Withdrawals for any other reason require 6 months' notice. So that the State bonuses can be paid, withdrawal can only be made 3 years after the opening of the account, this being the earliest when the interest credited to the account totals CHF 1,000.

Further information

Conditions

• Only one account per person
• The account holder must live in the canton of Geneva
• Each member of the same family may open an account, as long as each applicant actually lives in the family home (art. 13, article B, Act dated 26.09.1969) 
• The holder implicitly authorises the BCGE to provide the State of Geneva with the necessary information so that it can validate the principle and the proportion of his/her entitlement to the benefits under the act

Applicable law

Epargne-logement accounts enjoy State aid in accordance with the Act governing épargne-logement accounts dated 26.09.1969, amended on 24.01.2008 and the implementing regulation dated 05.08.1970, amended on 10.03.1997.