Simple Definition of savings bank
: a business where people keep money that they are saving in order to earn interest on it and where they can borrow money to buy homes, cars, etc.
Full Definition of savings bank
: a bank organized to hold funds of individual depositors in interest-bearing accounts and to make long-term investments (as in home mortgage loans)
First Known Use of savings bank
Learn More about savings bank
Britannica.com: Encyclopedia article about savings bank
Seen and Heard
What made you want to look up savings bank? Please tell us where you read or heard it (including the quote, if possible).