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

As a general rule, one income households should have three to six months of essential expenses in a savings account, with two-income families needing double that amount. —Kristin McKenna, Forbes, 28 Feb. 2025

Regulators accused Capital One of failing to pay more than $2 billion in interest to holders of its high-interest savings accounts – a claim that the company denied. —Matt Egan, CNN, 27 Feb. 2025

Expressed as a percentage, interest rates are set by banks and other financial institutions on everything from loans and credit cards to savings accounts earning a return. —Stephanie Colestock, Sacramento Bee, 26 Feb. 2025

The Natural Products Association has already been pressing Congress to allow people to use flexible savings accounts and health savings accounts on supplements, CEO Daniel Fabricant said. —Tina Reed, Axios, 24 Feb. 2025

Word History

First Known Use

1850, in the meaning defined above

Rhymes for savings account

• amount
• discount
• dismount
• recount
• remount
• seamount
• surmount
• count
• fount
• mount
• rediscount
• subaccount

Kids Definition

savings account

noun

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