BPI Direct Savings Bank

Jun 18th, 2015
Studypool Tutor
Alabama State University
Price: $25 USD

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A savings and loans institution or S&L is a “financial institution that specializes in accepting savings deposits and making mortgage and other loans”. It is also known as “thrift”, a word which basically means “to save” – which provides one of the two main purpose of creating association of this kind: to help people save money, and to provide monetary assistance, by means of extending loans. Though S&Ls are very rampant in the United States, there are only few banks or institutions which are focused in this purpose in the Philippines. There not many notable institutions engaging in this activity, including the Bataan Savings and Loan Bank, Cordillera Savings and Loan, Farmers Savings and Loan Bank and such, mostly of which can be found in rural areas. But there are also prominent firms which engage in this kind of activity such as the Bank of the Philippine Islands (BPI).

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