savings certificate

noun

1. a certificate of deposit for a specific sum of money in a savings account, especially a deposit for a fixed term at a specified interest rate.

Word History and Origins

Origin of savings certificate¹

First recorded in 1915–20

Example Sentences

To provide a stronger incentive to save, some credit unions are now offering prize-linked savings certificate accounts that offer monthly drawings for cash prizes.

From US News

On maturity, existing savings certificate customers can continue to rollover their investment into the same issue.

From The Guardian

They can also reinvest into any of the savings certificate terms and issues – either the three- or five-year issue of index-linked savings certificates or the two- or five-year issue of fixed-interest savings certificates – regardless of which savings certificate they hold.

From The Guardian

Those funds could currently be earning about 18% in a money-market account, 14.9% in a six-month savings certificate or 13% in a tax-exempt municipal bond fund.

From Time Magazine Archive

Johnson disclosed Treasury plans to sell a new savings certificate to individuals.

From Time Magazine Archive