What does savings account mean?
Definitions for savings account
sav·ings ac·count
This dictionary definitions page includes all the possible meanings, example usage and translations of the word savings account.
Princeton's WordNet
savings accountnoun
a bank account that accumulates interest
Wiktionary
savings accountnoun
A bank account designed for a client's savings, which compared to a current account typically entails withdrawal restrictions but yields a better interest
Wikidata
Savings account
Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange. These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and in some jurisdictions, does not incur a reserve requirement, freeing up cash from the bank's vault to be lent out with interest. The other major types of deposit account are transactional account, money market account, and time deposit.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of savings account in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of savings account in Pythagorean Numerology is: 6
Examples of savings account in a Sentence
We saved the difference in a small savings account, and then used it to contribute to a road trip to Yosemite later in the year.
Set up a savings account earmarked for your vacation and make regular, automatic contributions, you want to make sure funds are held in an FDIC-insured institution, and compare interest rates to what you’d get at a bank — though interest rates at banks are so low right now it’s almost shameful.
I’ve talked to at least a half a dozen families this week alone that have already met their (health savings account) maximum, in the first six weeks of the year.
In other words, I-Bonds are not a replacement for your savings account.
Because CD rates have fallen so much, it isn't a good time to lock in right now, there are now several online banks that cut their 5-year CD rates so low, they're lower than their savings account rates.
Translations for savings account
From our Multilingual Translation Dictionary
- حساب التوفيرArabic
- spořící účetCzech
- SparkontoGerman
- λογαριασμός ταμιευτηρίουGreek
- säästötiliFinnish
- compte d'épargneFrench
- conto di risparmio, libretto di risparmioItalian
- 貯蓄口座Japanese
- spaarrekeningDutch
- caderneta de poupançaPortuguese
- cont de economiiRomanian
- сберегательный счётRussian
- sparkontoSwedish
- சேமிப்பு கணக்குTamil
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"savings account." Definitions.net. STANDS4 LLC, 2024. Web. 1 May 2024. <https://www.definitions.net/definition/savings+account>.
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