Negative interest on pension accounts
From 1 March 2022, you must pay negative interest on pension accounts with us with cash deposits exceeding DKK 100,000. So you will pay negative interest if you hold more than DKK 100,000 in cash in a pension account. The threshold applies for each pension account and does not depend on whether you have your NemKonto with us.
This is how we calculate interest on pension accounts
For cash deposits exceeding DKK 100,000, the interest rate will be -0.69% p.a., while for deposits of less than DKK 100,000, the interest rate will continue to be 0.01% p.a. The interest rates are variable.
For pension accounts, negative interest amounts are charged separately to each account, and the money does not count towards the threshold for the charging of negative interest on your other accounts.
Which pension accounts are subject to negative interest rates?
From 1 March 2022, you must pay negative interest on all pension accounts with us with cash deposits exceeding DKK 100,000 – also cash deposits in the form of returns on assets in custody accounts. Pension funds invested in assets held in custody accounts and pension accounts linked to Puljeinvest, Danske Porteføljepleje Pension or Merchant Formuepleje are not subeject to negative interest rate.
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. Certain types of accounts are exempted from negative interest rates. This applies to a number of accounts for children, such as Pondus accounts, child savings accounts and Min Konto accounts, as well as special accounts used for home purchases or sales, and accounts holding compensation amounts that are protected from creditor claims.
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
Have you received a compensation amount that is protected from creditor claims?
If you have received compensation for disability or loss of provider and the compensation has been kept in a separate account, you do not pay negative interest on that amount. This applies retrospectively from 1 January 2021.