Post by niseag on Oct 30, 2014 23:11:29 GMT 4
Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.
