savings account

noun

: 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

That's because high-yield savings accounts offer competitive yields that tend to be close to or comparable to CDs, with some banks offering APYs of 4% or more currently. —Tim Maxwell, CBS News, 28 Nov. 2025

Senate Bill 2 empowers parents and prioritizes students success with providing comprehensive educational savings accounts (ESAs) to allow Texas families the freedom to choose the educational environment that best suits their children. —Jasmine Laws, MSNBC Newsweek, 27 Nov. 2025

Part of the rent paid to the nonprofit is deposited into a savings account and returned after two years, in hopes that the residents will be independent enough to move out and find their own housing. —Hema Sivanandam, Mercury News, 27 Nov. 2025

The draft of the White House plan would allow those in lower-tier plans, such as the bronze-level or catastrophic plans, to put money into health savings accounts. —Seung Min Kim, Fortune, 25 Nov. 2025

Word History

First Known Use

1850, in the meaning defined above

Rhymes for savings account

• amount
• discount
• dismount
• recount
• remount
• seamount
• surmount
• count
• fount
• mount
• rediscount
• subaccount

Kids Definition

savings account

noun

: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made