savings account

noun

: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form

Examples of savings account in a Sentence

She opened a savings account.

Recent Examples on the Web

If the Fed raises interest rates, then those for high-yield savings accounts, certificates of deposit, money market funds and other types of cash accounts generally rise, too. —Greg Iacurci, CNBC, 27 Dec. 2024

Maximize your savings: Best high-yield savings accounts The average duration of unemployment in November was 23.7 weeks, the longest since April 2022, and has climbed steadily in recent months from fewer than 20 weeks in April. —Dan Burns, USA TODAY, 26 Dec. 2024

Keep your emergency fund in a secure and accessible location, like a high-yield savings account, to earn some interest while maintaining easy access. —True Tamplin, Forbes, 26 Dec. 2024

Here Are 4 Ways To Deal With A Toxic Family Member By Alice Gibbs Senior Life and Trends Reporter 1 A young woman has been backed online for refusing to let her mom have access to her savings account. —Andy Biggs, Newsweek, 24 Dec. 2024

Word History

First Known Use

1850, in the meaning defined above

Kids Definition

savings account

noun

: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made