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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
Lock in a high-yield savings rate Since rates on online savings accounts, money market accounts and certificates of deposit are all poised to go down, experts say this is the time to lock in some of the highest returns in decades.
—
Jessica Dickler, CNBC, 18 Aug. 2024
Cash App offers benefits for direct deposit, including a savings account with a 4.5% annual percentage yield.
—
Luisa Beltran, Fortune, 16 Aug. 2024
Options include putting it into a savings account or paying down credit cards or other loans.
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Tribune News Service, The Mercury News, 12 Aug. 2024
Cutting the federal funds rate could result in lower yields for savers, who have benefited from high-interest savings accounts and certificates of deposit during the last year given that the Fed's benchmark rate has held steady at a 23-year high since July 2023.
—
Aimee Picchi, CBS News, 9 Aug. 2024
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These examples are programmatically compiled from various online sources to illustrate current usage of the word 'savings account.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
First Known Use
1850, in the meaning defined above
Dictionary Entries Near savings account
Cite this Entry
“Savings account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20account. Accessed 22 Aug. 2024.
Kids Definition
savings account
noun
: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made
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