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
SAVINGS BANK Defined for English Language Learners
Definition of savings bank for English Language Learners
: 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.
Learn More about savings bank
Britannica.com: Encyclopedia article about savings bank
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