Definition of "Bank"

Debbie Manning real estate agent

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Debbie Manningelite badge icon

Southside Realty

Financial institution that services savings and checking accounts, provides loans, and deals with negotiable instruments. Stringent federal and local regulations exist over banking activities. The three major types of banks are commercial, savings, and savings and loan associations. Various kinds of real estate loans are available from banks at attractive interest rates. However, the borrower should shop around since rates vary among banks.

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