savings account

noun

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 The Packers' corporate reserve fund — its savings account — fell from more than $500 million to about $440 million because of the drop in the stock market over the past several months. Richard Ryman, USA TODAY, 22 July 2022 That doesn't mean going all in: Workers of all ages should have at least three to six months' worth of living expenses socked away in a savings account in case of emergency. Alicia Adamczyk, Fortune, 26 May 2022 Lastly, the new tax-free first home savings account can make the possibility of the average Canadian affording a home more feasible. Reza Ghazi, Forbes, 15 June 2022 Twenty percent had to borrow money from family, and 11 percent were forced to take money from a retirement savings account. Washington Post, 12 Oct. 2021 The education savings account attracted Allison Dyer, from Nashua, whose daughter attended public school for two years before enrolling this school year at a Roman Catholic school where she isn’t required to wear a mask. Chelsea Sheasley, The Christian Science Monitor, 7 Oct. 2021 Americans have options to consider beyond the standard bank savings account to get their cash to grow. Kate Davidson, WSJ, 16 Oct. 2020 One easy way to reach this initial goal is to save automatically by diverting some of your direct deposited paycheck into a dedicated emergency savings account. Michelle Singletary, Washington Post, 15 July 2022 The victim told police that someone transferred $5,000 from his Citizens Bank savings account to a Chime online banking account on June 25. Bob Sandrick, cleveland, 15 July 2022 See More

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.

First Known Use of savings account

1850, in the meaning defined above

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Time Traveler for savings account

Time Traveler

The first known use of savings account was in 1850

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Dictionary Entries Near savings account

savingness

savings account

savings and loan association

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Statistics for savings account

Last Updated

14 Aug 2022

Cite this Entry

“Savings account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20account. Accessed 15 Aug. 2022.

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