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savings account Definition

savings account

noun

an account in a bank on which interest is paid

savings account Finance Definition

An account at a bank or other savings institution in which individuals can keep money that is readily accessible, but on which a relatively small interest rate is paid. Savings accounts are insured by the U.S. government up to $100,000 per account through the Federal Deposit Insurance Corp. (FDIC). Banks, credit unions, and savings and loan institutions offer savings accounts. The interest earned on the accounts is taxable.

Browse dictionary entries near savings account

  1. savings
  2. saving clause
  3. saving
  4. savin
  5. saveloy
  6. saved
  7. save-all
  8. save
  9. savate
  10. savarin
  1. savings and loan association
  2. savings bank
  3. savings bond
  4. savings deposit
  5. savings rate
  6. savior
  7. Savoie
  8. savoir-faire
  9. savoir-vivre
  10. Savonarola