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

Among the topics was the idea of education savings accounts (ESAs), a voucher-like program that would divert public funds to private schools. —Quintin Shepherd, Austin American-Statesman, 22 Nov. 2024

The funds come out of our HSA savings account just like our regular bank account. —Andy Hill, Forbes, 4 Nov. 2024

Maximize your savings: Best high-yield savings accounts How does the government affect inflation? —Paul Davidson, USA TODAY, 4 Nov. 2024

Stashing $100 in a savings account every month instead of investing it over 40 years in the S&P 500 equates to leaving as much as $500,000 on the table, assuming an annual 10% rate of return. —Tribune News Service, The Mercury News, 2 Nov. 2024

Word History

First Known Use

1850, in the meaning defined above

Kids Definition

savings account

noun

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