What is the defference between a commercial bank and a savings bank?

Asked by Nanyme, California Tue Sep 18, 2007

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#1, , San Francisco Bay Area
Tue Sep 18, 2007
No real difference as far as banks go savings wise.

A commercial bank has a normally has commercial mortgage division and offers loans to clients for commercial loans and agricultural property loans.

Sometimes they have the best rates but the underwriting requirements are a lot stricter. Many of them work through the SBA.

Anyone that has been through this process learned that this is not the easiest way from point A to point B.

They often require cross-collateralization on their purchase loans.

There are other alternatives at a little higher rates but less hassle.
1 vote
Mark Campbell, Mortgage Broker Or Lender, Fort Myers, FL
Mon Jan 9, 2012
Commercial banks have a national Charter -Saving Banks are or can be State Charters. Commerical Banks focus on larger commerical type loans and can mortgage nation wide.
0 votes
Kerwiin, Home Owner, Canada Del Oro Estates, Oro Valley, AZ
Mon Jan 9, 2012
i dont know the defference between commercial ad a savings bank :)
0 votes
Pam Winterba…, Agent, Danville, VA
Tue Sep 18, 2007
I pretty much second Ed's answer. To the consumer there is not much of a difference.
0 votes
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