savings account

American  

noun

1. a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments.

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savings account British  

noun

1. an account at a bank that accumulates interest

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Etymology

Origin of savings account

First recorded in 1910–15

Example Sentences

“I actually have a savings account,” said Wever, who is married now with a child.

From The Wall Street Journal

High-yield savings accounts are more liquid than certificates of deposit, meaning you can take your money out more easily.

From MarketWatch

Polls have found that 17% of Americans have no emergency savings and 38% of people ages 65 and older do not have a retirement savings account.

From MarketWatch

For now, it’s just sitting in my savings account.

From MarketWatch

Other research from Vanguard has shown how much emergency savings accounts save participants from all sorts of retirement-savings pitfalls in addition to hardship withdrawals, like loans and account liquidations at job changes.

From MarketWatch

Related Words

• nest egg