savings account


Definition of savings account

: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form

Examples of savings account in a Sentence

She opened a savings account.
Recent Examples on the Web Among the key provisions in the agreement is an increase in funding for public schools of $171.6 million, or 6%, from last year’s funding levels, and a diversion of more than $800 million into a state savings account. From Usa Today Network And Wire Reports, USA TODAY, 26 May 2021 Under Evers' bill, $850 million would go toward a wide array of projects and other needs while $150 million would go into a state savings account. Scott Bauer, Star Tribune, 19 May 2021 The pay was steady and solid — enough to pay her bills and still have money left over to sock away for a savings account for her child. Paul Wiseman And Alexandra Olson,, 18 May 2021 Demonstrating the difference between a savings account vs an investment account will build a foundation to understanding, at a young age, the benefits of saving. Chris Carosa, Forbes, 17 May 2021 But the Senate is calling for a far smaller withdrawal from the state’s own emergency savings account than the House, which had allowed for the state to take up to $1.875 billion from what’s known as the stabilization or rainy day fund., 11 May 2021 The man later found out that the original check had bounced, cleaning out his savings account of $300, as well as creating a negative balance. John Benson, cleveland, 19 May 2021 Without income from the market, Hadley, 47, drained his savings account and took out a second mortgage on his Miami Gardens house. Phillip Valys,, 13 May 2021 Moseley had to drain her savings account to clear her name. Jon Schuppe, NBC News, 8 May 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'savings account.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

See More

First Known Use of savings account

1850, in the meaning defined above

Keep scrolling for more

Learn More about savings account

Time Traveler for savings account

Time Traveler

The first known use of savings account was in 1850

See more words from the same year

Statistics for savings account

Last Updated

3 Jun 2021

Cite this Entry

“Savings account.” Dictionary, Merriam-Webster, Accessed 13 Jun. 2021.

Style: MLA
MLACheck Mark Icon ChicagoCheck Mark Icon APACheck Mark Icon Merriam-WebsterCheck Mark Icon

Keep scrolling for more

More Definitions for savings account

savings account


English Language Learners Definition of savings account

: a bank account in which people keep money that they want to save

More from Merriam-Webster on savings account

Thesaurus: All synonyms and antonyms for savings account


Test Your Vocabulary

Name that Thing: Dog Breeds

Spell It

Can you spell these 10 commonly misspelled words?

 AlphaBear 2

Spell words. Make bears.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!