Savings Banks

Savings banks are financial institutions that primarily focus on accepting deposits from individuals and providing savings accounts. They aim to encourage saving habits and often serve local communities. These banks typically offer basic banking services like deposit accounts, savings plans, and small loans, especially to people with modest incomes. Their goal is to promote financial stability and inclusion, while also generating funds that can be lent to support local development. Unlike commercial banks, savings banks usually prioritize community service and might operate under specific regulations to ensure they serve the public interest.