Banks in Germany Tell Customers to Take Deposits Elsewhere
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More customers are having to pay negative rates as savings have surged amid the pandemic
published : 3 Mar 2021 at 04:00
1 Commerzbank, one of Germany s biggest lenders, has told customers since last year to pay a 0.5% annual rate to keep large sums of money with it. (Photo: Bloomberg)
Interest rates have been negative in Europe for years. But it took the flood of savings unleashed in the pandemic for banks finally to charge depositors in earnest.
Germany s biggest lenders, Deutsche Bank AG and Commerzbank AG, have told new customers since last year to pay a 0.5% annual rate to keep large sums of money with them.