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

CD and high-yield savings account rates fluctuate, and currently hover at 4.2%, still keeping a step ahead of inflation that is running at roughly 3% a year.

From MarketWatch

But don’t trust yourself to make that transfer to savings accounts on your own each month — automation is your friend.

From MarketWatch

If you have a high-deductible health plan, you likely have access to a health savings account.

From MarketWatch

Also, if you’re eligible for a health savings account, contribute to that, as well.

From MarketWatch

We also keep $150,000 in a high-yield savings account for emergencies and upcoming home renovations, and our only debt is a small mortgage.

From MarketWatch

Related Words

• nest egg