Negative interest rates for
personal customers

We will introduce new thresholds for the charging of negative interest on cash deposits with effect from
1 July 2021.

The threshold for payment of negative interest depends on whether you have your NemKonto with Danske Bank:

  • If you have your NemKonto with us, negative interest will be charged on total cash deposits exceeding DKK 100,000. This means that you will pay negative interest if the cash deposits in your accounts exceed a total of DKK 100,000.
  • If you do not have your NemKonto with us, the total cash deposits will be subject to negative interest.

The negative interest rate is currently -0.6% per annum and is variable. The full interest amount will be charged to one account instead of to each individual account.

Do you hold accounts jointly with others?

If you hold accounts jointly with others, cash deposits in these jointly-held accounts will be distributed equally between you and the other account holders, and your share of the funds is then included in your total cash deposits with us. Consequently, there is only one total threshold for the charging of negative interest – and that applies to your total cash deposits across all of your accounts.

If, for example, you hold an account jointly with your partner, in which an amount of DKK 100,000 is deposited, half that amount will count towards your threshold, and half will count towards your partner’s threshold.

Which accounts are subject to negative interest rates?

Generally, accounts in which you as a customer can deposit funds are subject to negative interest rates. This applies to accounts such as salary accounts, savings accounts and budget accounts. Certain types of accounts are exempted from negative interest rates, however, such as child savings accounts, pension accounts, investment accounts and special accounts used in property transactions.

View a list of the accounts that are subject to negative interest rates and accounts that are exempted:

See examples of how we calculate negative interest

Do you have a bank
home loan?

Regarding home loan accounts, only the part of the account balance that exceeds the loan amount counts towards the threshold for payment of negative interest. The deposit rate that applies to the home loan account is not changed. This applies to

  • Danske Prioritet or Danske Prioritet Plus loan accounts
  • Danske Boliglån Plus loan accounts
  • Danske Andelsboliglån Plus loan accounts

Do you have funds secure from
attachment by creditors?

If you have funds secure from attachment by creditors deposited with us, you do not have to pay negative interest on those funds.

The change applies retrospectively from 1 January 2021.

Read more

Do you need advice about your options?

If you have to pay negative interest, it may be a good idea for you to discuss your options with us. What the best option is for you depends entirely on your individual situation and needs. You may want to invest some of the money, increase your pension savings, pay off debt or renovate your home or holiday home.

We will be happy to advise you about your options. Send us a message through Danske Mobile Banking or Danske eBanking, book a meeting or call us on +45 70 123 456.

Book a meeting


Which amount thresholds apply until 1 July 2021?

Up until the new thresholds take effect on 1 July 2021, the following thresholds apply for the charging of negative interest:

  • DKK 250,000 in total in your own accounts – if you have your NemKonto account with us
  • DKK 50,000 in total in your own accounts – if you do not have your NemKonto account with us
  • DKK 50,000 in accounts you hold jointly with others

Questions & Answers