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 The bank transferred $3.8 million from its debt service reserve fund, essentially a savings account, to help pay for it. Sarah Ritter, Kansas City Star, 22 Mar. 2024 High-yield online savings accounts The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. Jeanne Sahadi, CNN, 20 Mar. 2024 Protect your assets: Best high-yield savings accounts of 2023 Cocoa prices have been steadily increasing as the supply has been gradually diminishing. Kathleen Wong, USA TODAY, 19 Mar. 2024 High-yield savings accounts currently offer interest rates of up to 5%. Megan Cerullo, CBS News, 8 Mar. 2024 As a credit union, one way to attract millennial members—and to keep existing members from moving their money out of your ecosystem—is to offer a high-yield savings account with competitive rates. Crissi Cole, Forbes, 28 Feb. 2024 However, the benefits of a savings account are numerous and range from access to credit, consumption of durable goods, and even a higher likelihood of enrolling in college. Tom Davidson, Fortune, 27 Feb. 2024 Good morning and welcome to the A.M. Alert! $250 FOR CALIFORNIANS WITH DISABILITIES? Californians with disabilities would receive a new savings account with $250 in it, under a bill introduced by Sen. Josh Newman, D-Fullerton, and sponsored by California State Treasurer Fiona Ma. Andrew Sheeler, Sacramento Bee, 26 Feb. 2024 The credit union told him that $4,500 had been withdrawn from his savings account, according to the Troy police report. Susan Tompor, Detroit Free Press, 8 Feb. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'savings account.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1850, in the meaning defined above

Time Traveler
The first known use of savings account was in 1850

Dictionary Entries Near savings account

Cite this Entry

“Savings account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20account. Accessed 29 Mar. 2024.

Kids Definition

savings account

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

More from Merriam-Webster on savings account

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