savings-bank
Definition
- Noun:
- A financial institution: "savings-bank" refers to a type of bank that primarily accepts deposits from customers and pays interest on those deposits, often with a focus on encouraging personal savings rather than commercial lending.
Usage Examples
- (A bank that specializes in savings accounts with interest.)
- (A depository institution for individual savers.)
Advanced Usage
"to deposit money in a savings-bank": to place funds into an account at a savings-bank.
- He deposited his monthly earnings into the savings-bank to earn interest. (He put money into the bank to grow over time.)
"savings-bank account": a specific type of account offered by a savings-bank.
- The savings-bank account offers a 3% annual interest rate. (A deposit account with interest benefits.)
Variants and Related Words
Savings (n): money that is saved, especially through a bank or other financial institution.
- Her savings grew steadily over the years. (Accumulated funds set aside for future use.)
Bank (n): a financial establishment that handles money, including deposits and loans.
- The bank offers both checking and savings accounts. (A general term for a financial institution.)
Synonyms
- Thrift institution: a financial organization that encourages saving.
- Mutual savings bank: a type of savings-bank owned by its depositors.
Related Idioms
- "A penny saved is a penny earned": a proverb emphasizing the value of saving money, often associated with savings-banks.
- He followed the motto "a penny saved is a penny earned" and put his spare change into the savings-bank. (Saving small amounts is as valuable as earning them.)