savings certificate

noun

1. a certificate of deposit for a specific sum of money in a savings account, especially a deposit for a fixed term at a specified interest rate.

Word History and Origins

Origin of savings certificate¹

First recorded in 1915–20

Example Sentences

To provide a stronger incentive to save, some credit unions are now offering prize-linked savings certificate accounts that offer monthly drawings for cash prizes.

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On maturity, existing savings certificate customers can continue to rollover their investment into the same issue.

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They can also reinvest into any of the savings certificate terms and issues – either the three- or five-year issue of index-linked savings certificates or the two- or five-year issue of fixed-interest savings certificates – regardless of which savings certificate they hold.

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Those funds could currently be earning about 18% in a money-market account, 14.9% in a six-month savings certificate or 13% in a tax-exempt municipal bond fund.

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Johnson disclosed Treasury plans to sell a new savings certificate to individuals.

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