Danish Bank Will Start Charging Wealthy Clients for Their Deposits
- Jyske Bank plan follows similar steps at UBS, Credit Suisse
- CEO reckons sub-zero rates could be here for eight years
A cyclist passes a Jyske Bank A/S bank branch in Copenhagen.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
The first bank in the world to offer 10-year mortgages with negative interest is now planning to charge wealthy customers to save amid predictions sub-zero rates could be here for as long as eight years.
Jyske Bank A/S, which this month made history by offering 10-year loans with a rate of minus 0.5%, plans to levy negative rates on deposits held by its richest clients starting in December.