September 20, 2019 / 7:15 AM / a month ago

Denmark's Jyske Bank introduces even lower negative interest rates on deposits

COPENHAGEN, Sept 20 (Reuters) - Jyske Bank said on Friday that individuals with more than $111,100 on their bank accounts will be charged for their deposits as it seeks to split the bill from the European and Danish central bank’s recent rate cuts with its clients.

Jyske Bank, Denmark’s second-largest lender, said it would introduce a negative interest rate of 0.75% for both corporate deposits and also private clients depositing more than 750,000 Danish crowns ($111,100) from Dec 1.

This is a significant change compared to its announcement a month ago where it said clients depositing more than 7.5 million crowns would be charged negative interest rates of 0.6%. ($1 = 6.7507 Danish crowns) (Reporting by Stine Jacobsen Editing by Andrew Heavens)

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