Definition of savings account in English:

savings account

noun

  • A bank account that earns interest.

    • ‘Hundreds of thousands of people have failed to claim their free shares or cash, so it's worth checking to see if you have any dormant savings accounts or life policies.’
    • ‘Individual investors have also been depositing more cash in savings accounts.’
    • ‘This is a savings account that has two main advantages over traditional savings accounts.’
    • ‘There are a number of excellent internet savings accounts paying over 5% AER.’
    • ‘When my mother took me to the bank to open my first checking and savings accounts with my own money, I learned the value of a dollar and the importance of saving.’
    • ‘There's more to Islamic finance than alternatives to simple savings accounts and home loans.’
    • ‘According to the Bank of England, UK households have almost £500 billion squirreled away in savings accounts.’
    • ‘These savings accounts lock up money for a few weeks to several years and pay interest rates based on maturity dates and market demand.’
    • ‘Like other pension plans, the money paid into a stakeholder pension will be invested in items such as stocks and shares, bonds and cash savings accounts.’
    • ‘One estimate is that UK savers could make an extra £5 billion a year by switching to the best savings accounts!’
    • ‘Millions of us have our nest eggs in taxed savings accounts that pay well below the going rate of interest.’
    • ‘One thing I always do when comparing savings accounts is to look at the Annual Equivalent Rate.’
    • ‘Children's savings accounts have a maximum age limit for the account holder, which can be high as 21 for some accounts.’
    • ‘Teach him about savings accounts, checking accounts, investments, and how much better life can be when you have these things.’
    • ‘I've subsequently put this money into tax-free savings accounts and earned some interest.’
    • ‘Although the Bank of England has raised its base rate five times since November 2003, most savings accounts still aren't producing the goods.’
    • ‘However, there are still several savings accounts around paying more than the base rate and these are the ones to keep an eye on.’
    • ‘Banks will be forced to pay decent rates of interest on all savings accounts, with a minimum-rate guarantee.’
    • ‘Even cash deposited in high-interest savings accounts for too long will soon have its value eroded by inflation.’
    • ‘Because of rising inflation in the past year, they have been losing money on their savings accounts in the official banks.’
    bank account
    View synonyms

Pronunciation:

savings account

/ˈsāviNGz əˌkount/