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

Rates can also change with high-yield savings accounts — even after you deposit your money — based on the Federal Reserve’s benchmark rate.

From MarketWatch

Health savings accounts offer tax-free contributions, growth, and withdrawals for medical expenses, with 2026 maximums of $4,400 for individuals and $8,750 for families.

From Barron's

The asset manager said it “has long championed early-childhood savings accounts and supported the policies that make them possible.”

From MarketWatch

“By providing children with savings accounts that compound over time, we are providing them with early insights into financial literacy and a path towards financial independence.”

From The Wall Street Journal

PayPal also plans to offer interest-bearing savings accounts to customers through its proposed bank.

From The Wall Street Journal

Related Words

• nest egg