AMWatch

Danish banks move deposit rates further into negative territory - could spur investments

Over the past few days, Denmark's three largest banks have increased negative deposit rates even further. Earlier this week, Nordea told AMWatch that the negative rates were a driver for retail clients to invest their money instead.

Photo: Frank May/AP/Ritzau Scanpix

This week, interest on savings deposits at Nordea, Jyske Bank and Danske Bank were pushed further into the negative. All three banks now offer increased negative deposit rates of -0.7 percent, compared to a previous -0.6 percent.

The negative rate increase comes after the Danish central bank, Nationalbanken, adjusted its own deposit rates from -0.5 percent to -0.6 percent.

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