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

Some 34 states now offer vouchers, scholarships or savings accounts, 19 of which have universal choice programs.

From The Wall Street Journal

As Bank of France governor, he oversaw interest rates on state-regulated financial products like the hugely popular Livret A savings accounts and accounts for low-income households, as well as efforts to limit excessive personal debt.

From Barron's

Applications opened Wednesday for the state’s new K-12 education savings account program, and more than 42,000 signed up that day.

From The Wall Street Journal

The now 19-year-old, who works part time while pursuing a degree in computer engineering technology, says Jackson’s course led him to open a high-interest savings account and obtain a credit card.

From The Wall Street Journal

The Bank rate cut in December and conditions thereafter have led to cuts in the interest paid by savings account providers to their customers.

From BBC

Related Words

• nest egg