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Saving Bank

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Saving Bank
An Institution that primarily accepts consumer savings deposits and to make home mortgage loans.
    
Accounts that pay Interest, typically at below-market Interest rates, that do not have a specific maturity, and that usually can be withdrawn upon demand is known as savings Deposit. A loan secured by the Collateral of some specified Real Estate property that the borrower is obliged to pay back with predetermined set of payments is a mortgage loan.
    
Depository Institution historically engaged primarily in accepting consumer savings deposits and in originating and investing in securities and residential mortgage loans; NOW may Offer checking-types and make a wider Range of loans.
Posted by  Privatebanking.com
 
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