Definition of savings bank

Mutual savings bank definition of mutual savings bank at. Savings bank an institution that primarily accepts consumer savings deposits and to make home mortgage loans. Savings accounts offered by most banks, credit unions, and other financial institutions are fdic insured and typically pay interest on your deposits. Savings banks frequently originated as part of philanthropic efforts to encourage saving among people of modest means. These accounts let customers set aside a portion of their liquid assets while earning a monetary return. Information and translations of federal savings bank in the most comprehensive dictionary definitions resource on the web. Axos bank, a federally chartered savings bank, offers a broad range of financial products. This includes checking, savings, money market accounts, cds, mortgages, and personal loans. Online banking access to your money, anywhere, at anytime. Savings bank definition for englishlanguage learners. Savings bank definition is a bank organized to hold funds of individual depositors in interestbearing accounts and to make longterm investments as in home mortgage loans. Savings and loan associations tend to be smaller than other banks and are. Savings bank definition of savings bank by merriamwebster. The major savings bank has a savings account which offers 7% fixed.

They originated in europe during the 18th century with the aim of providing access to savings products to all levels in the population. Savings bank definition and meaning define savings bank. A financial intermediary that accepts savings deposits and invests these funds in loans primarily for commercial and residential real estate, plus investments in government and high quality corporate bonds and blue chip stock. Savings, according to keynesian economics, consists of the amount left over when the cost of a persons consumer expenditure is subtracted from the amount of disposable income he earns in a given. You can always change your preferences or unsubscribe and your contact information is covered by. Savings bank definition for englishlanguage learners from. The bank said that it has successfully completed the joint arrangement of a usd250m, fiveyear bond issuance, due 2019, for national savings bank. Savings account definition is an account as in a bank on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or. A mutual savings bank is a bank, a type of thrift institution, chartered by a central or regional government that does not have shareholders, i. A savings account is a deposit account held at a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange for example, by writing a cheque. Postal savings bank definition is a savings bank conducted by a government through the local post offices. Savings bank article about savings bank by the free dictionary. Definition of savings bank written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels.

A banking association which accepts customer deposits and funds mortgages. While their chief purpose is to encourage thrift by paying interest dividends on savings, savings banks can also issue credit cards. Savings bank definition of savings bank by the free. Federal savings and loan association a federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings bank definition of savings bank by the free dictionary. The rate youll earn on your savings account also varies and can change at any time. Jan 30, 2020 a savings account is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest. The policy is owned by the government of sri lanka. Deposits and withdrawals are made by phone, mail or at a bank branch or atm.

Mutual savings banks mobile app allows you to access your funds when and where you want. A savings account pays interest on cash not needed for daily expenses. Savings account definition of savings account by merriam. Federal savings bank definition of federal savings bank by. A checking account pays lower interest rates than other bank accounts. Savings accounts typically earn interest and unlike investment. Savings bank, financial institution that gathers savings, paying interest or dividends to savers. In addition to the benefits of saving up for future purchases, delaying an impulse purchase also helps you decide whether it is something you really need, or a waste of money you will regret shortly after buying. Definition of savingsbank noun in oxford advanced american dictionary. The financial services commission fsc, south koreas financial regulator, has said that it has suspended the operations of four more savings banks busan2 savings bank, jungang busan savings bank, jeonju savings bank and bohae mutual savings bank for six months due to their insufficient liquidity. In banking, savings refers to savings accounts, which are shortterm, interestbearing deposits with a bank or other financial institution. I would like to receive nasdaq communications related to products, industry news and events. National savings bank definition and meaning collins. A savings account is a basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest.

Here at mutual savings bank, we strive to provide our customers with the convenience and products of a large bank, while maintaining the atmosphere of the community bank. A savings account is a bank account where you can store money you dont need right away but still keep it easily accessible. Dec 11, 2019 savings, according to keynesian economics, consists of the amount left over when the cost of a persons consumer expenditure is subtracted from the amount of disposable income he earns in a given. In economics, savings is the amount that is left after spending. A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits. National savings bank financial definition of national. People who put their money into it own the financial institution. It channels the savings of individuals who wish to consume. Savings bank legal definition of savings bank legal dictionary. It channels the savings of individuals who wish to consume less than their incomes to borrowers who wish to spend more. A bank is a financial institution licensed to receive deposits and make loans. Mutual savings banks internet banking provides a convenient and reliable way to access your accounts and transact business on your terms, at your convenience. Savings bank financial definition of savings bank financial dictionary. In 20, there were only 936 savings and loans, according to the fdic.

Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes. In the early 1980s savings and loans were deregulated, allowing them to make loans. Savings refer to money you put aside for future use rather than spending it immediately. Savings bank meaning in the cambridge english dictionary. A savings account can be used to save money for specific expenses or for longerterm undefined goals, all while earning interest on the money in the account. Savings bank dictionary definition savings bank defined. Savings bank definition, a bank that receives savings accounts only and pays interest to its depositors. Definition of federal savings bank in the dictionary. Savings bank law and legal definition uslegal, inc. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. Savings bank article about savings bank by the free. Often associated with social good these early banks were often designed to. A financial institution whose primary function is to hold deposit in savings accounts.

Savings bank definition in the cambridge english dictionary. Savings bank definition and meaning collins english dictionary. This function is served by the savings deposit departments of commercial banks. An institution that primarily accepts consumer savings deposits and to make home mortgage loans. Postal savings bank definition of postal savings bank by. Definition of savings bank in the legal dictionary by free online english dictionary and encyclopedia. A savings bank can be chartered at the state or the federal level. A savings account pays interest on cash not needed for daily expenses but available for an emergency. A savings account is an account provided by a bank for individuals to save money and earn interest on the cash held in the account.

A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits they originated in europe during the 18th century with the aim of providing access to savings products to all levels in the population. Stock savings bank definition in the cambridge english. Savings bank definition and meaning collins english. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.