savings account

  

Definition

Bank or other depository institution account (1) from which withdrawals can be made, (2) interest accrues on the account balance, (3) does not have any maturity date, and (4) usually does not require a minimum balance.

Use savings account in a sentence

  • After I won $4000 at the poker tables, I left the casino and went to the bank, so I could deposit the money into my savings account.

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  • When I get my pay check, I always put a portion of the money in my savings account so that I have money in case of an emergency.

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  • When you get your first paycheck it seems like a lot of money and it can be tempting to go out and spend it all on fun things, but it is wise to put a certain percentage of your earnings into a savings account

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