Savings account

(redirected from Saving Deposits)
Also found in: Dictionary, Thesaurus.

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 ?
Return on equity, capital adequacy, operating margins is positively associated with saving deposit ratio.
The consolidated TL saving deposits of the bank were up 4.
The results have shown that all the banks in the study relied heavily on external sources of funds rather than saving deposits.
The good bank, which has saving deposits of pounds 19bn, pounds 10bn of quality mortgages and 76 branches, will be sold off to the private sector and is expected to raise more than pounds 2bn.
Banks are still struggling with a pounds 800 billion funding gap - the difference between loans and deposits - as greater competition for retail saving deposits adds to the pressure, the report said.
The buy-to-let specialist said it would rein in lending until the economy improved and attract more saving deposits after a "very challenging" first half.
Instead, the balance of time and saving deposits with higher yields narrowed the margin of its decline to 2.
5 money (P) = Preliminary figures Note: M1 = Currency in circulation+Demand deposits & Saving deposits with transferability (including MMF of investment trust management companies) Table 14.
Nowadays, saving deposits still account for a large part in this funding, although there is an increasing recourse to the capital markets, in particular through the issue of mortgage bonds.
Liu said only 20% of the population now holds 80% of China's saving deposits.
China's economic growth could rely on very substantial saving deposits so long as we have good and relevant policies it is possible to convert savings into investment,'' he said.