The Plan Epargne Logement (PEL) was launched in November 1988, in order to encourage people, especially youths, to save for the purpose of acquiring a house in the future. The fund contributed, coupled with a loan from the MHC, constitutes a capital to finance the housing projects of clients.
The PEL has proved to be very popular with prospective homeowners. It carries an interest rate higher than normal savings accounts. Over 100,000 PEL account holders trust MHC and more than 50,000 families have already experienced the joy of homeownership with MHC’s PEL product.