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Recent Examples on the Web The credit union told him that $4,500 had been withdrawn from his savings account, according to the Troy police report. Susan Tompor, Detroit Free Press, 8 Feb. 2024 The rest of his winnings will be split between his savings account and his church. Paloma Chavez, Miami Herald, 7 Feb. 2024 Willis also testified that on Nov. 30, 2021, there was a $3,000 transfer from Ethan Crumbley’s savings account at Flagstar. Gina Kaufman, Detroit Free Press, 23 Feb. 2024 Overall, top issues in state legislative races this cycle include the border, Attorney General Ken Paxton’s impeachment and vouchers, as Gov. Greg Abbott continues his push for education savings accounts. Eleanor Dearman, Fort Worth Star-Telegram, 15 Feb. 2024 But in some cases, making expensive purchases like buying a home despite high mortgage rates could make sense for millennials because savings account yield rates have been relatively lower. Sydney Lake, Fortune, 14 Feb. 2024 On Pause—For At Least A Week—For DOJ Response 3) Education savings accounts Related to the parent power trend is the growth of education savings accounts (ESAs)—with 13 states now having such policies. Michael B. Horn, Forbes, 13 Feb. 2024 The concepts my husband’s father talked us through were a blur: high-yield savings account, 401(k) matching, Roth IRAs. TIME, 13 Feb. 2024 Keeping those savings in a high-yield savings account can allow the money to grow over time while staying safe. Kimberly Palmer Of Nerdwallet, Quartz, 12 Feb. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'savings account.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1850, in the meaning defined above

Time Traveler
The first known use of savings account was in 1850

Dictionary Entries Near savings account

Cite this Entry

“Savings account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20account. Accessed 19 Mar. 2024.

Kids Definition

savings account

noun
: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made

More from Merriam-Webster on savings account

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!