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.

---

savings account British  

noun

1. an account at a bank that accumulates interest

---

Etymology

Origin of savings account

First recorded in 1910–15

Example Sentences

The post said the school district was placing money into savings accounts and contracting out work to traveling psychologists or non-district special education support staff.

From Los Angeles Times

So your bank, for instance, may not issue you a 1099-INT form for interest earned on your savings account if it’s $8.50, but you’re still technically supposed to claim that money on your tax return.

From MarketWatch

A health savings account could serve this purpose, for those who are eligible.

From Barron's

Like many savvy retirement savers, you take full advantage of health savings accounts.

From MarketWatch

That lowers the chances that refund money will flow to upper-income households and then sit unspent in a savings account or a brokerage account, he explained.

From MarketWatch

Related Words

• nest egg