BPI offers various types of flexible savings accounts when linked to a property investment can be particularly advantageous and tax-efficient.
The different types of saving accounts available are :
- A Euro savings account;
- A multicurrency stock account;
- A time deposit account.
The Euro savings account is invested in a portfolio of secure funds which has been carefully chosen among the best contracts and managed reputable partners and offers the possibility of diversifying your assets according to different profiles of risk, profitability and means. This type of savings account is linked to the French life insurance which offers tax advantages (wealth tax and inheritance tax).
The multicurrency stock account account (securities, mutual funds, monetary markets, bonds, shares…) is particularly designed to offer low risk optimal solutions for certain non-residents experiencing an unfavourable rate of exchange. This provides efficient currency investments while allowing the client to take hold of opportunities regardless of exchange rate fluctuations. A 100% loan to value is obtainable with a multicurrency saving account equivalent to 25% of the loan value. The mortgage is secured both by a lien on the property and a lien on the account. The borrower has the option to convert the invested currency into Euros at any time.
The time deposit account should a borrower need to invest funds on a short-term basis with the option to renew the required term. The option to do so is available with this type of account for a minimum of 1 month.
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Please note that these accounts are restricted to European citizens.
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