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TeachMeFinance.com - explain savings bank savings bank -- a financial intermediary that accepts savings deposits and invests these funds in loans primarily for commercial and residential real estate, plus investments in government and high quality corporate bonds and blue chip stock. Savings banks may be state-or federally chartered and insured by the SAIF or the FDIC. In 1982, Congress removed all differences between federally chartered savings banks and federally chartered savings and loan associations as to the kinds of loans and investments they can make. historic definition... Savings bank -- A bank of deposit the depositors in which have a mutual interest in the profits of the institution ; in other words, an institution for receiving and investing savings, which pays interest on deposits at stated intervals, the interest depending as to rate on the bank's profit from investing the deposits. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.