Skip to content
Subscriber Only

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.

A cyclist passes a Jyske Bank A/S bank branch in Copenhagen.

Photographer: Luke MacGregor/Bloomberg
Updated on

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.