Definition, Meaning & Synonyms
s-and-l
Noun
/ˈes ənd ˈel/
Definition
S-and-L refers to savings and loan, a type of financial institution that specializes in accepting savings deposits and making mortgage and other types of loans.
Examples
- The local S-and-L provides various mortgage options for first-time homebuyers.
- Many S-and-Ls offer competitive interest rates on savings accounts.
- She decided to open a new account at her neighborhood S-and-L for ease of access.
Meaning
Savings and loans are designed primarily to promote saving and providing people with funds to purchase homes.
Synonyms
- Savings institution
- Thrift
- Saving bank
