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savings account

savings account

50 2.3
A bank service that holds money for future use and pays interest
  • noun
  • /ˈseɪvɪŋz əˈkaʊnt/
translation icon : cuenta de ahorros
  • I would like to open a savings account to earn interest on my money.
  • establish a savings account
  • savings account at banks
  • deposit and savings accounts

Have less money in high yield savings accounts, more money in stocks.

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Examples

  • After some careful planning, she decided to transfer her extra funds into a savings account.

  • He deposited his paycheck into his savings account every month to save for a new car.

  • And I have I have a good savings account and I have some stock.

  • What do our savings accounts look like?

  • I wanna open up a savings account for you, okay?

  • Yeah, you know, I was thinking about starting a savings account.

  • Anyway, I put all that money in a savings account.

  • I have a savings account.

  • Every week, Paul put a little money into a bank savings account.

    Fiction book (1993)
  • We went to the bank to open a savings account, but the bank refused him.

    Fiction book (2002)

Synonyms

account
vssavings account
2.1

A record of money received and paid by a person or business

refers to a bank product for earning interest rather than just a record
bank account
vssavings account
168 1.5

A service from a bank to keep and use your money

is designed primarily to store money to earn interest rather than daily use
deposit account
vssavings account
2 3.9

A bank account where you leave money for a fixed time and often cannot take it out without notice

permits regular deposits and easier withdrawals for routine use
passbook savings account
vssavings account
  • Archaic
4.2

A savings account where the bank writes deposits and withdrawals in a paper book the customer keeps

does not rely on a physical booklet for recording transactions

How Accessible

checking account
  • US
35 2.8
savings account
50 2.3
money market
  • Specialized
15 4.0
certificate of deposit
  • Specialized
3 4.1

Surface Forms

Morphology

savings + account

The meaning is directly and transparently compositional: 'savings' (funds set aside) + 'account' (a bank record) yields an account used for saving money. This noun–noun compounding is a common, cross-linguistic pattern and would be readily understood by a B1 learner who knows both constituents.

Etymology

The compound savings account shows a bank account that holds your savings, like a safe box where you put money away and let it grow. So it means a bank account to 'save money' for the future and earn interest.