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Savings banks are those entities whose mission is to safeguard the money of people interested in their money remaining safely. These savings accounts have different policies according to the banking entities, but the essential thing is that the account holder can enter and withdraw the money whenever he wants from his account.
These accounts are very useful for those people who handle large amounts of money and whose purpose is to save (as the name suggests). In life, not all expenses are predictable and voluntary, moreover, the vast majority arise from unforeseen events such as broken appliances, weddings in which a gift must be given, births of relatives... there are many cases in which , due to social pressure, necessity or pleasure, we generate expenses that are not contemplated in our day to day and that we count on monthly.
So that we do not find ourselves in delicate money situations, many people choose to open a savings account in which to put the money left over each month and reserve it for future unexpected expenses (rather than spending it on a whim).
Of course, there are other expenses that, no matter how much we save, we need the help of a bank to grant us a loan that we will repay little by little. The most typical case in which these loans are usually requested is in houses. The large amount of money needed to buy a house is not usually met with 5 years of work (and more if we take into account the expenses incurred in those 5 years).
Another case in which these loans are usually applied is in the purchase of a car, although in this case the percentage of people who request it is lower because the cost is more affordable.
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