The-definition.com

Definition

Savings banks

Depositor-owned, bank like institutions chartered by individual states and almost identical to savings and loans in operation. They began in New England in the early 19th century for the purpose of paying interest on deposits.

Share it:  Cite

More from this Section

  • Uncovered Interest Arbitrage (UIA)
    A deviation from covered interest arbitrage is uncovered interest arbitrage (UIA), where ...
  • Prime rate of interest
    Prime rate of interest is a lower rate of interest than that charged to most borrowers. ...
  • Money
    Broadly speaking, money is anything that can be used as a means of payment (for example, ...
  • Alpha
    Alpha is a measure of risk-adjusted performance. An alpha is usually generated by regressing ...
  • Major medical insurance
    Major medical insurance is a health insurance designed to pay a large proportion of the ...