Denmark’s Jyske Bank debuts negative interest rate mortgage
Denmark’s third-largest bank, Jyske Bank, launched the first negative interest rate mortgage in the world, The Guardian reports.
The bank
will offer borrowers a 10-year deal at -0.5% — meaning borrowers will still make monthly payments, but the amount outstanding will be reduced each month by more than the borrower has paid.
Business Insider
Why is this Danish Bank Offering Mortgages with a Negative 0.5% Interest Rate?
Posted on 08/15/2019
Jyske Bank A/S
is the third largest Danish bank in terms of market share.
Revealed on August 5, 2019, the Danish bank is offering Europe’s first negative interest rate mortgage.
What does this mean?
The bank is lending loans to homeowners where the charge is -0.5% per year for a 10-year loan.
SWFI
Jyske Bank Private Banking