**** 𝐍𝐞𝐠𝐚𝐭𝐢𝐯𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞 𝐟𝐨𝐫 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬 ****
From 1st of January 2021, most banks in Denmark already started to implement negative interest rate for private customers and some banks in process. Find below overview of the Danish banks negative interest rates.𝐖𝐡𝐚𝐭 𝐢𝐬 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞𝐬? In the past, you got interest if you put your money in the bank because the deposit rates were positive. In recent years, the market has changed so that there is a situation of negative interest rates. This means that it is now the reverse world, where it can cost money to have money in the bank – because you pay negative interest instead of getting interest. Reason behind the banks introduced negative interest rates on private customers deposits is that it costs them money to have money standing in bonds or Danmarks National bank. Therefore, the banks choose to forward the bills to some of the customers with a lot of money in the account. In concrete terms, this means that you do not have to pay to have money left over, as long as your deposit does not exceed the amount limits. And you only have to pay negative interest on the amount that exceeds the amount limits. 𝐋𝐞𝐭𝐬 𝐠𝐞𝐭 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤𝐬 𝐝𝐞𝐩𝐨𝐬𝐢𝐭 𝐥𝐢𝐦𝐢𝐭 𝐚𝐧𝐝 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞:
- Danske bank: From 1st January 2021, a negative interest rate of 0.60 percent for all amounts over 250,000 kroner (if you have Nemkonto), DKK 50,000 in total on own accounts (if you do not have NemKonto). If you have mortgage loans, only the amount in excess of the mortgage loan is included in the total negative interest balance. You therefore keep your interest benefits on deposits that are below the priority loan.
- Nordea: From 1st January 2021, a negative interest rate of 0.60 percent for all amounts over DKK 250,000. From 1 January 2021, pension savings will also be covered by negative interest rates. You can have up to DKK 100,000 in cash per. pension account without paying negative interest. Excluded are pension accounts associated with portfolio care products as well as pension accounts with securities pools. Here you do not pay negative interest.
- Jyske Bank: From 31 March, deposits over DKK 100,000 will be affected by an interest rate of minus 0.60 per cent.
- Sydbank: From 6th January 2021, for amounts over DKK 100,000, an interest of minus 0.60 percent must be paid.
- Spar Nord: From 2nd January 2021, for amounts over DKK 100,000, a negative interest rate of 0.60 percent must be paid.
- Ringkjøbing Landbobank: For amounts over DKK 100,000, a negative interest rate of 0.60 percent must be paid. If you do not have your NemKonto in the bank, an annual negative interest rate of currently -0.75% pa applies for your entire deposit in the bank, regardless of account type.
- Arbejdernes Landsbank: From 1st January 2021, for amounts over DKK 250,000, a negative interest rate of 0.60 percent must be paid.
- Sparekassen Sjælland / Fyn: For amounts over DKK 100,000, a negative interest rate of 0.60 percent must be paid.
- Sparekassen Kronjylland: For amounts over DKK 250,000, a negative interest rate of 0.60 percent must be paid.
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