Savings account

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Related to Saving Deposit: current account, demand deposit, time deposit, Term deposit

Savings account

A deposit account held with a financial institution that pays interest but does not allow for direct withdrawal through checks. Pays interest at a rate higher than that of checking account but lower than that of treasury bills.

Savings Account

An account at a bank in which the customer deposits money for any non-immediate use. For example, one may utilize a savings account to save funds for an expensive purchase, such as a house or a car. Because most customers keep money in a savings account for a longer period than a checking account, a savings account pays a slightly higher interest rate. However, the interest rate is not as high as a bond or another low-risk investment. Generally speaking, one may not write a check on a savings account without paying a penalty. This is to disincentivize withdrawals on savings.

Savings account.

A savings account is a deposit account in a bank or credit union that pays interest on your balance -- though some institutions require that you have at least a minimum amount in the account to qualify for earnings.

You can deposit and withdraw from savings accounts as you wish, but you can't transfer money from the account directly to other people or organizations.

While savings accounts typically pay interest at a lower rate than other bank accounts, that may not always be the case. Savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Share Insurance Fund.

You're covered up to $100,000 in each of three different categories of account in a single bank, or up to $250,000 if an account is a self-directed retirement account (IRA). Different branches of the same bank count as one bank.

savings account

see DEPOSIT ACCOUNT.
References in periodicals archive ?
Further analysis on the three models show that the coefficient of interest rate has the greatest value in mudharaba saving deposits (-0.
In comparison, POSBank is very strong in consumer and retail banking, a franchise built up mainly through its unique advantage of offering tax-exempt saving deposits.
There is market confidence due to the fact that prices have remained stable in the North East over the past few years which is resulting in an increasing number of renters saving deposits and becoming homeowners.
He also added that insurance firms do not have the right to collect saving deposits or investments.
Even now Microfinance institutions are struggling to be able to take saving deposits and become full financial services channel.
7 percent despite the linkage of minimum rate of return on saving deposits with the interest rate corridor.
The mutual has also been more active in raising finance from wholesale money markets, although 94% of its lending still comes from its saving deposits.
According to the National Bank statistics, saving deposits have increased as well, which has been a trend for quite some time now.
Instead, the president said he chose a controlled management of the crisis by ensuring the liquidity of the banks and the rescue of the banking system through their recapitalization; saving deposits apart from the levy for which depositors will get shares in the island's two main banks; saving provident and pension funds and avoiding wage and pension cuts.
Interest rates on saving deposits have had low returns, leading people to turn to riskier investments.
On the status of money supply, the report said that " An increase in sight and saving deposits caused both the narrow (M1) and broad (M2) measures of money supply to expand by KD 99 million and KD 84 million, respectively.