Danske Bank lowers negative interest rate threshold, Danish businessman says 'that's enough'

On April 26, 2021, the Danish multinational banking and financial services Danske Bank released a press release announcing that the institution is changing individual customers and default interest rates for businesses in Denmark. The bank plans to lower the negative interest rate threshold on deposits from DKK 100,000 to DKK 250,000 (from 16,000 to 40,000 USD). Danish savers will be victims of negative interest rates this summer. Some large financial institutions in Europe are adopting negative interest rates. Bitcoin.com News recently reported on how ECB President Christine Lagarde handled the situation and advocated negative interest rates. Lagarde stated that this might offend saviors, but people should put the global economy above savers. In addition, the Bank of England (BoE) wants UK banks and construction communities in the region to have negative bank rate solutions by August 2021. Swiss banks, Danish financial services provider Danske Bank, introduced negative interest rates for certain large deposits. As a matter of fact, in 2012, Denmark became the first country to implement negative interest rates on a large scale. With the new terms, Dankse Bank deposits range from DKK 100,000 to DKK 250,000 (USD 16,000 to 40,000) in the negative interest category. The image above represents the rates for Dankse Bank's professional clients. For retail customers, the negative interest invoicing threshold is DKK 100,000 and is calculated on the basis of the total amount of deposits in all customer accounts. Each deposit share in jointly held accounts is included in the 100,000 DKK threshold. "The interest rate applied to the deposit will not change and therefore it will always be – 0.6% per year," he said. On July 1, 2021, private and professional clients will see their interest rate change

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