If you borrowed $100 but kept it in a bank account, then you&#x27;d be losing to the negative interest rate on that sum too (and friction of having to make regular payments).<p>The only way to benefit is to borrow and invest that money, which is exactly what the fed wants (with the expectation that productive investments will boost economic growth).<p>I think the real issue is that if you&#x27;re paying -5% for a loan. It&#x27;s rational to invest that into something that returns -1% (and profit by 4%). This means people are incentivized to invest in unproductive resources... Which might be a bad thing in the long run.