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
ChatGPT
savings account
A savings account is a type of deposit account held at a financial institution that provides a secure and interest-bearing place for individuals to store their money. It is typically used for money that isn't intended for daily expenditure but for future use. The account often has restrictions on the number of transactions allowed without incurring fees and usually offers a higher interest rate compared to a checking account. These accounts are generally insured by the government up to a certain amount.
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
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.
In other words, I Bonds are not a replacement for your savings account.
If you have access to generational wealth, if you’re white and your parents have a savings account that is very much so connected to slavery and land theft, pay people, pay people directly. Give them the money so they can have the financial security in order to rest and to heal and to connect with their communities. ... Pay that money to us now.
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.
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.
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
Get even more translations for savings account »
Translation
Find a translation for the savings account definition in other languages:
Select another language:
- - Select -
- 简体中文 (Chinese - Simplified)
- 繁體中文 (Chinese - Traditional)
- Español (Spanish)
- Esperanto (Esperanto)
- 日本語 (Japanese)
- Português (Portuguese)
- Deutsch (German)
- العربية (Arabic)
- Français (French)
- Русский (Russian)
- ಕನ್ನಡ (Kannada)
- 한국어 (Korean)
- עברית (Hebrew)
- Gaeilge (Irish)
- Українська (Ukrainian)
- اردو (Urdu)
- Magyar (Hungarian)
- मानक हिन्दी (Hindi)
- Indonesia (Indonesian)
- Italiano (Italian)
- தமிழ் (Tamil)
- Türkçe (Turkish)
- తెలుగు (Telugu)
- ภาษาไทย (Thai)
- Tiếng Việt (Vietnamese)
- Čeština (Czech)
- Polski (Polish)
- Bahasa Indonesia (Indonesian)
- Românește (Romanian)
- Nederlands (Dutch)
- Ελληνικά (Greek)
- Latinum (Latin)
- Svenska (Swedish)
- Dansk (Danish)
- Suomi (Finnish)
- فارسی (Persian)
- ייִדיש (Yiddish)
- հայերեն (Armenian)
- Norsk (Norwegian)
- English (English)
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Citation
Use the citation below to add this definition to your bibliography:
Style:MLAChicagoAPA
"savings account." Definitions.net. STANDS4 LLC, 2024. Web. 19 Mar. 2024. <https://www.definitions.net/definition/savings+account>.
Discuss these savings account definitions with the community:
Report Comment
We're doing our best to make sure our content is useful, accurate and safe.
If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Attachment
You need to be logged in to favorite.
Log In