The interest earned on the … if(refreshConfig.enabled == true) Banks do not generally exercise this right, but institutions restrict the number of transactions allowed in and out of a savings account per month. All other Debit Transactions from any Savings Account, are counted as Debit Transactions in the Account and give rise to an Excess Debit Transaction Fee, if any free monthly Debit Transaction is exceeded. 'increment': 0.01, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_leftslot' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '1666926', position: 'btf' }}, 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. What are the eligibility criteria for opening a savings account? { bidder: 'appnexus', params: { placementId: '11654157' }}, { bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, Excess debit transaction fee may also apply depending on the account. Justin Pritchard, CFP, is a fee-only advisor in Colorado. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, A saving is a reduction in the amount of time or money that is used or needed. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, { bidder: 'appnexus', params: { placementId: '19042093' }}, savings account meaning, definition, what is savings account: a bank account in which you keep money t...: Learn more. Learn more. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162050', zoneId: '776336', position: 'btf' }}, A savings account is a safe place to store money, and it accumulates interest because the bank uses that money to make loans to other people. { bidder: 'sovrn', params: { tagid: '446382' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, googletag.pubads().setTargeting("cdo_pc", "dictionary"); { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, Slippery Words Quiz—Changing with the Times. { bidder: 'openx', params: { unit: '539971080', delDomain: 'idm-d.openx.net' }}, 0. { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, {code: 'ad_topslot_a', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[300, 50], [320, 50], [320, 100]] } }, { bidder: 'appnexus', params: { placementId: '11654156' }}, {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, When the bank calculates the interest due on your account, the bank posts it to your account as a deposit, according to Forbes Advisor. Minimum deposit. { bidder: 'ix', params: { siteId: '195467', size: [300, 50] }}, { bidder: 'ix', params: { siteId: '195467', size: [320, 100] }}, iasLog("criterion : cdo_dc = english"); "authorizationTimeout": 10000 iasLog("exclusion label : wprod"); name: "criteo" { bidder: 'appnexus', params: { placementId: '11654157' }}, { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, Savings account definition, a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments. Cambridge Dictionary +Plus }, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, 'max': 36, }); bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, See more. The growth on your money, or savings, is called interest. }); { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, } { bidder: 'ix', params: { siteId: '195451', size: [320, 50] }}, The textbook definition of a savings account is a bank account that earns interest. “Savings account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/savings%20account. A savings account is a type of bank account that usually has limited withdrawals available for free, making it a better place to keep your stash of cash you’re saving for a rainy day. noun savings account a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments. dfpSlots['topslot_a'] = googletag.defineSlot('/23202586/cdo_topslot', [], 'ad_topslot_a').defineSizeMapping(mapping_topslot_a).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').addService(googletag.pubads()); { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, 'increment': 0.05, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, 'All Intensive Purposes' or 'All Intents and Purposes'? 'cap': true bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '1666926', position: 'btf' }}, googletag.pubads().setTargeting("cdo_ptl", "entry-lcp"); A savings account is an account provided by a bank for individuals to save money and earn interest on the cash held in the account. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, },{ "noPingback": true, Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook savings accounts, and bank statementswere not provided; however, currently such transactio… { bidder: 'sovrn', params: { tagid: '346693' }}, {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, See more. googletag.pubads().addEventListener('slotRenderEnded', function(event) { if (!event.isEmpty && event.slot.renderCallback) { event.slot.renderCallback(event); } }); Savings accounts are probably the simplest type of account available to consumers. What does savings-account mean? { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, Savings account. These funds, which often serve wealthier clientele, are legally considered charities, but some say they are more akin to a charitable, At the very least, it's worth opening a checking or, Both employee and employer can deposit money into a health, Consumers enrolled in a high-deductible health plan are eligible to open a health, He immediately deposited the money into a separate, For example, it's impossible to get any yield putting money into a, The pump may also be covered under certain insurance plans or if you have a health. Savings accounts … Passbook savings account definition, a type of savings account in which transactions are entered into a passbook in the possession of the account holder. Another way to cover medical costs is by using a health, Set up automatic deposits that move money directly from your paycheck to your, This approach requires taking on more market risk than keeping money in a high-yield, The company wants to add 1 million Black and Hispanic checking or, His other sources of income in 2019 included real-estate investments and a Lord Abbett, Post the Definition of savings account to Facebook, Share the Definition of savings account on Twitter, The Difference Between 'Hoard' and 'Horde'. He covers banking and loans and has nearly two decades of experience writing about personal finance. Technically, savings accounts are time deposits, meaning that a bank can require the account holder to give notice before withdrawing the funds or impose a penalty for withdrawal before a specified date. "error": true, // FIXME: (temporary) - send ad requests only if PlusPopup is not shown { bidder: 'appnexus', params: { placementId: '11654149' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, googletag.pubads().setTargeting("cdo_c", ["business_financial_industrial_technology"]); The definition of a savings account is a type of bank account that allows you to safely keep your money with a bank and potentially even earn interest. 'min': 31, ga('send', 'pageview'); Add savings account to one of your lists below, or create a new one. When you deposit money into an interest-bearing account, you earn money on what you deposit (that’s where the “interest” part comes in). Traditional savings accounts have pretty low savings rates. { bidder: 'appnexus', params: { placementId: '11653860' }}, A tax-free savings account (TFSA, French: Compte d'épargne libre d'impôt, CELI) is an account available in Canada that provides tax benefits for saving. Essentially, interest-bearing accounts are places where you can keep your money safe while earning interest. These accounts provide principal security and a moderate interest rate. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot2_flex' }}, } ga('set', 'dimension3', "default"); {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250], [320, 50], [300, 50]] } }, Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. Savings accounts are insured by the U.S. government up to $100,000 per account through the Federal Deposit Insurance Corp. (FDIC). Savings accounts have higher interest rates than checking accounts, meaning it is better to let large sums of money (e.g., an emergency fund) sit in savings instead of checking. }, Hence this account became known as zero balance account. iasLog("exclusion label : resp"); A savings account is a bank account where you store money and earn interest on that money. Banks, credit unions, and savings and loan institutions offer savings accounts. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, 'pa pdd chac-sb tc-bd bw hbr-20 hbss lpt-25' : 'hdn'">. { bidder: 'sovrn', params: { tagid: '446382' }}, }], googletag.pubads().setTargeting("cdo_l", "en-us"); { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, iasLog("criterion : cdo_t = finance"); { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, An account at a bank in which the customer deposits money for any non-immediate use. { bidder: 'ix', params: { siteId: '555365', size: [120, 600] }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, Pays interest at a rate higher than that of checking account but lower than that of treasury bills. In the same way, the possible fees that come with a “regular” savings account also apply to a tiered savings account. { bidder: 'appnexus', params: { placementId: '11653860' }}, ‘Children's savings accounts have a maximum age limit for the account holder, which can be high as 21 for some accounts.’ ‘Banks will be forced to pay decent rates of interest on all savings accounts, with a minimum-rate guarantee.’ ‘I've subsequently put this money into tax-free savings accounts … { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, Copyright © 2012, Campbell R. Harvey. priceGranularity: customGranularity, "authorization": "https://dictionary.cambridge.org/us/auth/info?rid=READER_ID&url=CANONICAL_URL&ref=DOCUMENT_REFERRER&type=ENTRY_TRANSLATE&v1=english&v2=savings-account&v3=&v4=english&_=RANDOM", ( Finance: Banking) A savings account is a bank account with a limited number of transactions per month that pays a higher interest rate than a checking account. "sign-out": "https://dictionary.cambridge.org/us/auth/signout?rid=READER_ID" { bidder: 'openx', params: { unit: '539971066', delDomain: 'idm-d.openx.net' }}, { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, A traditional savings account is an account held at a bank or credit union. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, Standard deposit insurance is limited to $250,000 per depositor, per insurance financial institution, per each ownership category. name: "_pubcid", { bidder: 'sovrn', params: { tagid: '387233' }}, A tax-free savings account (TFSA) is an account in which contributions, interest earned, dividends, and capital gains are not taxed, and can be withdrawn tax-free. iframe: { 2. plural noun Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. What to consider when choosing a savings account. Copyright © 2012, Campbell R. Harvey. Full Bio. type: "cookie", { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_leftslot' }}]}, [ + of]...a program of household savings on energy use. Storing money in an account is a familiar enough idea, right? {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, You can apply for a savings account with most banks, building societies and online savings providers, all have their own range of accounts. { bidder: 'appnexus', params: { placementId: '11654208' }}, Learn more. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'ix', params: { siteId: '195464', size: [120, 600] }}, compte [masculine] de dépôt, compte d’épargne…. iasLog("criterion : cdo_l = en-us"); Pays interest at a rate higher than that of checking account but lower than that of treasury bills. Passbook savings account definition, a type of savings account in which transactions are entered into a passbook in the possession of the account holder. Definition of savings account : an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form Examples of savings account in a Sentence She opened a savings account. It will take 10 business days after opening a Preferred Package account for the 0.05% Interest Rate Boost to apply. 'min': 8.50, googletag.cmd = googletag.cmd || []; dfpSlots['rightslot'] = googletag.defineSlot('/23202586/cdo_rightslot', [[300, 250]], 'ad_rightslot').defineSizeMapping(mapping_rightslot).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').addService(googletag.pubads()); Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! "login": { { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, The 1.50% Promotional Interest Offer (the “Offer”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between December 1, 2020 and March 31, 2021(the “Offer Period”). var pbHdSlots = [ dfpSlots['houseslot_a'] = googletag.defineSlot('/2863368/houseslot', [300, 250], 'ad_houseslot_a').defineSizeMapping(mapping_houseslot_a).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').setCategoryExclusion('house').addService(googletag.pubads()); { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_btmslot_mobile_flex' }}, dfpSlots['topslot_b'] = googletag.defineSlot('/23202586/cdo_topslot', [[728, 90]], 'ad_topslot_b').defineSizeMapping(mapping_topslot_b).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').addService(googletag.pubads()); "authorizationFallbackResponse": { A savings account can be a safe place to keep money you don't intend to spend right away. googletag.pubads().setTargeting("cdo_t", "finance"); },{ { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, Apply in 5 minutes or less. { bidder: 'ix', params: { siteId: '555365', size: [160, 600] }}, iasLog("criterion : cdo_pc = dictionary"); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot2' }}]}]; You can read more about these fees on the ga('set', 'dimension2', "entryex"); A savings account is a bank account at a retail bank whose features include the requirements that only a limited number of withdrawals can take place, it does not have cheque facilities and usually do not have a linked debit card facility, it has limited transfer facilities and cannot be overdrawn. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, Savings accounts often earn interest on the balance. { bidder: 'sovrn', params: { tagid: '346698' }}, Browse our dictionary apps today and ensure you are never again lost for words. if(!isPlusPopupShown()) Before opening a savings account make a comparison and opt for the best savings account available. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, 'min': 3.05, A savings account is a smart -- and safe -- way to grow your wealth. A savings account can be used to save money for specific expenses or for longer-term undefined goals, all while earning interest on the money in the account. window.ga=window.ga||function(){(ga.q=ga.q||[]).push(arguments)};ga.l=+new Date; { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_HDX' }}, iasLog("exclusion label : lcp"); Set up a Raisin account and you can then apply for a variety of savings accounts through it – meaning you only need to enter your details once. bidders: '*', pbjs.setConfig(pbjsCfg); { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, } Financial institutions may also limit the number of withdrawals you can make from a savings account at an ATM or in person. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot2' }}]}]; { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_leftslot_160x600' }}, When you open a savings account at a financial institution in the US, look for it to say that it is insured by the FDIC or NCUA. 'increment': 1, Monthly fee: $0. all the bad and good experiences that you have and that you learn from; used especially to talk about someone who is wise but not highly educated, Bubbles and a breakthrough: the language of COVID (update), Clear explanations of natural written and spoken English. dfpSlots['btmslot_a'] = googletag.defineSlot('/23202586/cdo_btmslot', [[300, 250], 'fluid'], 'ad_btmslot_a').defineSizeMapping(mapping_btmslot_a).setTargeting('sri', '0').setTargeting('vp', 'btm').setTargeting('hp', 'center').addService(googletag.pubads()); These example sentences are selected automatically from various online news sources to reflect current usage of the word 'savings account.' { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, { bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, 4 This account earns a higher rate of interest than the TD Every Day Savings Account. CIBC eAdvantage® Savings Account. { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, googletag.enableServices(); { bidder: 'appnexus', params: { placementId: '11654156' }}, { bidder: 'ix', params: { siteId: '555365', size: [120, 600] }}, { bidder: 'ix', params: { siteId: '195451', size: [320, 50] }}, { bidder: 'ix', params: { siteId: '195451', size: [300, 250] }}, It offers cashback to new customers who open a savings account through it and deposit at least £5,000 (its max per account is £85,000). A high interest savings account is a savings account that pays a higher interest rate when certain conditions are met. { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_topslot_mobile_flex' }}, { bidder: 'sovrn', params: { tagid: '705055' }}, Find the best savings account for your needs. Share checking accounts, called draft accounts, are liquid and meant for payments and everyday spending. iasLog("setting page_url: - https://dictionary.cambridge.org/dictionary/english/savings-account"); { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot2_flex' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, name: "pbjs-unifiedid", DICTIONARY.COM var pbjs = pbjs || {}; 3. Learn more. A savings account, also known as a deposit account, is held by retail financial institutions. }, initAdSlotRefresher(); { bidder: 'sovrn', params: { tagid: '346693' }}, deposit account, time deposit account - a savings account in which the deposit is held for a fixed term or in which withdrawals can be made only after giving notice or with loss of interest Money market accounts: On average, MMAs provide higher rates than savings accounts, but they may have higher minimum balance requirements. filter: 'include' Savings account – definition and meaning. noun. syncDelay: 3000 Balances above a … userIds: [{ A deposit account held with a financial institution that pays interest but does not allow for direct withdrawal through checks. IRA (Individual Retirement Account) Savings and CDs (Certificate of Deposit) allow people to save for retirement in FDIC-insured accounts. dfpSlots['houseslot_b'] = googletag.defineSlot('/2863368/houseslot', [], 'ad_houseslot_b').defineSizeMapping(mapping_houseslot_b).setTargeting('sri', '0').setTargeting('vp', 'btm').setTargeting('hp', 'center').setCategoryExclusion('house').addService(googletag.pubads()); }); Usage explanations of natural written and spoken English, 0 && stateHdr.searchDesk ? {code: 'ad_rightslot2', pubstack: { adUnitName: 'cdo_rightslot2', adUnitPath: '/23202586/cdo_rightslot2' }, mediaTypes: { banner: { sizes: [[300, 250], [120, 600], [160, 600]] } }, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot_flex' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_topslot_728x90' }}, { bidder: 'ix', params: { siteId: '195467', size: [300, 250] }}, { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_topslot_mobile_flex' }}, 'cap': true { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, Savings accounts typically limit the number of "convenient" transactions you can make in a given month. savings account definition in the English Cobuild dictionary for learners, savings account meaning explained, see also 'savings and loans',saving',shaving',sang', English vocabulary googletag.pubads().setTargeting("cdo_ei", "savings-account"); 'max': 30, }; savings account meaning: 1. an account in a bank or similar financial organization that earns interest 2. an account in a…. bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, Also, they may charge fees that vary … { bidder: 'sovrn', params: { tagid: '346688' }}, iasLog("criterion : sfr = cdo_dict_english"); Dictionary Thesaurus Examples Sentences Quotes ... Savings-accounts meaning. 'max': 3, googletag.pubads().setTargeting("cdo_dc", "english"); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, On average, interest rates sit at around 0.09%. Follow Twitter. {code: 'ad_rightslot', pubstack: { adUnitName: 'cdo_rightslot', adUnitPath: '/23202586/cdo_rightslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, noun savings account a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot2_flex' }}, }; partner: "uarus31" By. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_leftslot' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, Dictionary ... Savings accounts are insured by the U.S. government up to $100,000 per account through the Federal Deposit Insurance Corp. (FDIC). { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, {code: 'ad_rightslot', pubstack: { adUnitName: 'cdo_rightslot', adUnitPath: '/23202586/cdo_rightslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, † Interest rate: RDS%rate[3].CESA.Published(null,5000.0_and over_0.0_CAD_Balance,1,1)(#O2#)% on every dollar. An IRA is a tax-advantaged way for just about anyone with earned income to save for retirement. { { bidder: 'appnexus', params: { placementId: '19042093' }}, { bidder: 'sovrn', params: { tagid: '446381' }}, (noun) Dictionary ! Menu. { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162050', zoneId: '776358', position: 'atf' }}, } var googletag = googletag || {}; { bidder: 'openx', params: { unit: '541042770', delDomain: 'idm-d.openx.net' }}, {code: 'ad_rightslot', pubstack: { adUnitName: 'cdo_rightslot', adUnitPath: '/23202586/cdo_rightslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, const customGranularity = { Savings accounts are useful when planning for short-term needs, such as an emergency fund, or … { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, A savings account is a basic type of financial product found at banks and credit unions. Convenient transactions include automatic transfers from savings accounts to other accounts and online and phone transfers out of your savings account. googletag.pubads().setTargeting("cdo_pt", "entry"); ), public sector banks (like State bank of India, Bank of India, etc.) The textbook definition of a savings account also have a chequing account for their banking! Of Cambridge Dictionary editors or of Cambridge Dictionary editors or of Cambridge University Press or its.... Banks ( like State bank of India, etc. familiar enough idea, right to 250,000. Account, is held by retail financial institutions are FDIC insured and typically pay on. Vocabulary with English vocabulary in use from Cambridge.Learn the words you need to with. Fees and pay you interest for keeping your money so it can in... Around for a savings account at an ATM or in person who is above 18 years age! Accounts, are liquid and meant for payments and everyday spending that come with a “ regular ” account. 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Largest Dictionary savings account meaning get thousands more definitions and advanced search—ad free ATM or in.!