savings bank

savings bank
A term of dual meaning. A banking institution in the hands of disinterested persons, the profits of which inure wholly to the benefit of the depositors in dividends or in a reserve surplus for their greater security. A bank in which the depositor becomes a creditor of the bank for the amount of the deposit and receives such interest on the deposit as the trustees or directors of the bank may agree to pay, and in which the profits belong to the corporation and its stockholders. In a sense known throughout the country, a bank which accepts and pays interest on deposits of savings, subject to whatever conditions may be prescribed as to the time such savings remain on deposit. 10 Am J2d Banks § 4.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • savings bank — n. 1. a bank in which savings may be deposited; esp., a banking establishment whose business is to receive and invest depositors savings, on which it pays interest ☆ 2. a small container with a slot for receiving coins to be saved …   English World dictionary

  • savings bank — see bank Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • savings bank — savings ,bank noun count a bank that people have a SAVINGS ACCOUNT with …   Usage of the words and phrases in modern English

  • savings bank — n a bank where people can save small amounts of money and receive ↑interest on it …   Dictionary of contemporary English

  • savings bank — ► NOUN ▪ a non profit making financial institution receiving small deposits at interest …   English terms dictionary

  • Savings bank — A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective… …   Wikipedia

  • savings bank — a bank that receives savings accounts only and pays interest to its depositors. [1810 20] * * * Financial institution that gathers savings and pays interest or dividends to savers. It channels the savings of individuals who wish to consume less… …   Universalium

  • savings bank — An institution that primarily accepts consumer savings deposits and to make home mortgage loans. Bloomberg Financial Dictionary * * * savings bank savings bank ➔ bank1 * * * savings bank UK US noun [C] BANKING, FINANCE ► a bank whose main purpose …   Financial and business terms

  • savings bank — UK / US noun [countable] Word forms savings bank : singular savings bank plural savings banks a bank that people have a savings account with …   English dictionary

  • savings bank — noun 1. a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks • Hypernyms: ↑thrift institution • Hyponyms: ↑mutual savings bank, ↑MSB, ↑federal savings… …   Useful english dictionary

  • Savings bank — Saving Sav ing, n. 1. Something kept from being expended or lost; that which is saved or laid up; as, the savings of years of economy. [1913 Webster] 2. Exception; reservation. [1913 Webster] Contend not with those that are too strong for us, but …   The Collaborative International Dictionary of English

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