Savings-account meaning
An account that draws interest at a bank.
noun
An account in a bank on which interest is paid.
noun
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.
(finance) A bank account designed for a client's savings, which compared to a current account typically entails withdrawal restrictions but yields a better interest.
noun
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