S&L or Savings and Loan is a common term that refers to institutions that cater to depositors who wish to save their money and earn interest. There are various synonyms that can be used to replace the term S&L. One of the most common terms used as a synonym for S&L is "Thrift Institution". This term reflects the primary focus of such institutions, which is to help customers save their money and earn interest. Other synonyms may include savings bank, building society, and credit union. These institutions offer similar services, and although there may be subtle differences in the way they operate, they all provide opportunities for individuals to save and earn interest.