!!!Bausparen

Saving and Loan Associations deal with home loan and saving 
transactions (Bausparen), a combination of saving and financing with 
the purpose of creating wealth and living accommodation. In Austria, 
more than 1,030,000 dwelling units had been financed by the home 
savings banks or building societies (Bausparkassen) by 1999. Bausparen 
is based on a closed cycle of saving and financing in which the 
savers, by means of their deposits, create the financial basis for the 
extension of building loans. Bausparen is of great benefit to the 
national economy, and the Austrian state therefore gives incentives to 
depositors. The following home savings banks operate in Austria: 
Raiffeisen Bausparkasse, Bausparkasse, Bausparkasse Wuestenrot AG, 
ABV-Allgemeine Bausparkasse, Hypo Bausparkasse AG.


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