Legal Definitions - savings bank

A savings bank is a type of bank that primarily accepts deposits from customers and pays interest on those deposits. It differs from a commercial bank in that it does not offer a wide range of financial services such as loans and credit cards.

• Savings-bank trust: A type of trust account held by a savings bank on behalf of a customer.
• Savings bond: A type of government bond that pays interest and is sold to individual investors.
• Savings clause: A clause in a legal document that preserves certain rights or options.
• Savings note: A type of promissory note issued by a savings bank.
• Saving-to-suitors clause: A clause in maritime law that allows a plaintiff to file a lawsuit in a non-admiralty court.

These examples illustrate the different ways in which the term "savings bank" is used in various contexts. They show that savings banks offer different types of financial products and services, and that the term can also be used in legal contexts such as trusts and maritime law.