SAVINGS BANK

The most important lender of finance for housing. The banks have an important effect on the economy because saving accounts affect the flow of money. However, in recent years they have lost ground to the building societies and private lenders for housing finance. A typical savings bank loan is as follows:

• term : 15 25 years
• deposit: >= 20% of purchase price
• other criteria includes customer's banking record, and net income.

See real estate finance.