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Home » Banking » Types of Banks»Savinigs Banks

Savinigs Banks


The basic purpose of these banks is to inculcate the habit of savings in the people. The savings bank deposits are not repayable upon only the written orders of the depositor but the depositor or his agent has to appear personally at the saving bank to make withdrawal, and for this purpose he must present a pass book, a certificate of deposit or some similar documents to prove his right to receive payment. Post Office Savings Banks and Savings Account at national Saving Organization are well known operational Savings Banks.

From the beginning, savings banks have fostered access to finance for all strata of the population. That explains their current focus on retail banking: products and services in the field of payments, credits, savings and insurance for private customers and small and medium-sized enterprises.

World Savings Bank Institute:

WSBI is the global voice of savings and retail banking. WSBI represents the interests of savings and retail banks at an international level and fosters membersí cooperation.

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Keywords:

savings account, savings banks, savings, insurance, credits, retail banking

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