Definition, Meaning & Synonyms

s-and-l

noun

ˈes ənd ˈel

Definition

S-and-L is an abbreviation for savings and loan, referring to a type of financial institution that primarily focuses on accepting savings deposits and making mortgage and other loans.

Examples

The local s-and-l offered attractive interest rates for new savings accounts.
After applying for a mortgage at the s-and-l, I was pleased with the low fees.
Many people turn to their neighborhood s-and-l for home loans due to personalized service.