savings account

Definition

A deposit account at a bank or savings and loan which pays interest, but cannot be withdrawn by check writing.

Use savings account in a sentence

You should make sure to always keep something in a separate savings account that you will not touch for business needs.

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I recently took my eldest daughter to open her first savings account to deposit the monies she had earned babysitting in the neighborhood.

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My grandmother refused to invest her money in the stock market and instead kept it all in a savings account at her bank where she could keep an eye on it and it would earn a little interest.

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