AMWatch

Saxo Bank introduces negative rates for wealthy clients

Wealthy retail clients at the Danish-based financial group will have to get used to negative rates after April 1.

Photo: PR/ Saxo Bank

On April 1, negative rates will be introduced at Saxo Bank for private customers with more than EUR 134,000 (DKK 1 million) in their accounts.

The negative rate will be -0.75 percent for amounts in Danish kroner, the bank reports to FinansWatch. Customers with accounts in euros and swiss francs will also experience negative rates - here, the minimum amount is EUR 150,000, where the negative rate will be -0.50 percent, and customers with more than CHF 150,000 will be charged a negative rate of -0.75 percent.

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