Savings bank


 

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Savings bank

An institution that primarily accepts consumer savings deposits and to make home mortgage loans.



Savings bank

Similar Matches

Savings Association Insurance Fund (SAIF)

Savings Association Insurance Fund (SAIF)

A government organization that ../../finance-glossary/d the Federal Savings and Loan Insurance Corporation as the provider of deposit insurance for thrift institutions.


Bonds Enabling Annual Retirement Savings (BEARS)

Bonds Enabling Annual Retirement Savings (BEARS)

Holders of BEARS receive the face value of bonds underlying call option, which are exercised by CUBS (an acronym for Calls Underwritten by Swanbrook). If the calls are exercised by CUBS, BEARS holders receive the total of the exercise price.


Savings account

Savings account

An account with a bank or financial institution which pays interest on balances held, usually once or twice per year, the amount of interest usually depending on to the amount of money in the account and the 'base rate' of the Bank of England. There is often a notice period required for withdrawals and in most cases the longer the notice period, the higher the interest rate.


Tax Exempt Special Savings Account

Tax Exempt Special Savings Account

A five year tax free savings scheme for people aged 18 and over, introduced by the government in January 1991 and operated by banks and building societies, but terminated in 1999.The maximum amount which could be paid into such schemes over the five year life of the TESSA was £9,000 according to the following schedule:1st year, £3,0002nd year, £1,8003rd year, £1,8004th year, £1,8005th year £600TESSAs were discontinued on 5th April 1999 although those taken out before then are allowed to run their full five year term. If you own a TESSA, you can do three things with it when it matures:You can withdraw the interest and capital free of tax, and either spend it or invest it elsewhere.You can move the capital into a 'Matured TESSA Account'. The interest earned in the account after the maturity date will be taxable.You can move the capital (but not the income) into an ISA account where it can continue to grow tax free. It can either be paid into a special Tessa-only ISA account (a TOISA) or it can be paid into a cash only mini ISA. The move has to be made within 6 months of the maturity of the TESSA.


Post Office Savings

Post Office Savings

See 'National Savings'.


Further Suggestions

Federal Savings and Loan Association
Mutual Savings Bank
Mutual savings bank
Savings element
individual savings account
Savings bond
Savings deposits
National Savings Bank
Savings and loan association
Individual Savings Account
Savings rate
mutual savings bank
Financing Cost Savings
lifelong individual savings account
National Savings
Registered Retirement Savings Plan (RRSP)
National Savings Stock Register
savings and loan association
Savings And Loan Association
savings element


 
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