savings bank

noun

1. a bank that receives savings accounts only and pays interest to its depositors.

savings bank

noun

1. a bank that accepts the savings of depositors and pays interest on them
2. a container, usually having a slot in the top, for saving coins

Word History and Origins

Origin of savings bank¹

First recorded in 1810–20

Example Sentences

These include accounts at a major global commercial bank, a credit union, an online high yield F.D.I.C.-insured savings bank and a low-fee money-market fund with a large, reputable asset management company.

From New York Times

TSB recently faced a public outcry over plans to shut a museum at the site of the world's first savings bank.

From BBC

BHR is about 80 percent controlled by Chinese government entities, including the country’s postal savings bank, a pension fund, and the Bank of China.

From Washington Times

In 1816, the first savings bank in the United States, the Philadelphia Savings Fund Society, opened for business.

From Washington Times

In response, Black reparationists set up mutual aid societies, Black churches, community schools and grassroots savings banks for their people.

From The Guardian