Question

A for-profit institution that works with the general public to open and manage
savings accounts is known as a(n).
A. commercial bank
B. savings bank
C. credit union
D. investment bank

Answer 1

Answer:

B. savings bank

Explanation:

Savings bank is defined as a bank which helps customers or people to invest or deposit in interest giving accounts that will give a long term investment.

Savings bank were started in Europe in the 19th century. Saving banks gives interest on the deposit amount that is why its is a for-profit institution for general public. The interest saving banks give by investing in government and corporate debt.

Hence, the correct answer is "B. savings bank".