savings account

noun

1. a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments.

savings account

noun

1. an account at a bank that accumulates interest

Word History and Origins

Origin of savings account¹

First recorded in 1910–15

Example Sentences

According to the Federal Reserve’s most recent Survey of Consumer Finances in 2022, the median savings account balance for U.S. households was $8,000.

From Salon

What to do instead: Save what you can into a high-yield savings account, so your funds are both accessible and earning interest.

From Salon

Some conservatives have pushed to privatize the program and create personal savings accounts in their place.

From Los Angeles Times

I also have $60,000 in a health savings account that is invested in a mutual fund.

From Los Angeles Times

Let’s say you want to benefit two relatives equally, and are leaving a savings account to one and a brokerage account to the other.

From Los Angeles Times

Related Words

• nest egg