savings account

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

noun

1. an account at a bank that accumulates interest

Word History and Origins

Origin of savings account¹

First recorded in 1910–15

Example Sentences

He likened the global situation to a family overspending and drawing down their savings accounts.

From Los Angeles Times

Since last year it has been offering to match pound-for-pound the first £75 paid into one of its child savings accounts.

From BBC

Premiums Bonds are a lottery-style, government-backed savings account where people can put money in and take it out when they want.

From BBC

The former said lowering the cash Isa limit would encourage investment with billions of pounds languishing in savings accounts doing little for individuals and the economy.

From BBC

However, instead of simply being held in an savings account, the money is invested in shares in companies, unit trusts, investment funds or bonds.

From BBC

Related Words

• nest egg