savings bank
Orig. saving bank, also savings' bank.
[f. savings pl. (see saving vbl. n. 2) + bank n.3]
An institution for encouraging thrift, by receiving small deposits at interest.
In the United Kingdom the principal institution of this kind is now the National Savings Bank, a government-owned organization whose services are available at post office counters, formerly known as the post office Savings Bank. Trustee Savings Banks were originally designed for the small investor and were managed by unpaid trustees (under the control of the National Debt Commissioners) but have now become a public limited company offering the full range of banking services and retaining only the abbreviated title TSB.
| 1817 Act 57 Geo. III, c. 105 Sched. A, The sum above stated is the exclusive Property of the Saving Bank specified in this our Order. 1819 Ann. Biography III. 215 In him [sc. G. Rose] the..system of saving banks found an active friend and patron. 1844 Regul. & Ord. Army 150 The Regimental Savings' Bank. 1886 C. E. Pascoe London of To-day xxvi. (ed. 3) 242 Investments in Consols have been placed within the reach of the poor through the medium of the Savings Bank. Ibid. xliii. (ed. 3) 382 Communications from the Savings Bank Department. |