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

Workers would be allowed to contribute more, tax-free, to health savings accounts. —Howard Gleckman, Forbes.com, 27 May 2025

For instance Colorado's First Step program awards every newborn $100 in a 529 college savings account, plus a match of $500 a year for the first five years of savings, totaling up to $2,500 in gift contributions. —Anne Marie D. Lee, CBS News, 22 May 2025

Start small: a 24-hour hold on emotional purchases, a weekly check-in on your spending, and setting up auto-transfers to a savings account can make a world of difference. —Jasmine Browley, Essence, 19 May 2025

Those concerns are what slowed down the school choice movement in Texas, which only recently passed its own bill to adopt education savings accounts (ESAs) after years of opposition from rural Republicans. —Lexi Lonas Cochran, The Hill, 16 May 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