Savings account

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Related to Saving Accounts: current accounts

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 ?
He said the model of the Gold saving accounts have been under testing stages which has been proved successful on the technical end and financial feasibility but operational on branchless networking and marketing sides are underway to make the product successful.
They have the bulk of the current and low cost saving accounts because of their extensive branch networks.
When he heard the union were offering current accounts as well as saving accounts and loans, he applied right away.
This event takes place on a bimonthly basis as part of the BankAAEs Saving Accounts campaign, which comprises of the biggest and most valuable prizes in the Kingdom.
Summary: Cairo Amman Bank announced the four winners of its Saving Accounts campaign for the month of June; whereby Mr.
Dubai: Some Islamic banks have imposed a maintenance fee of Dh25 on all saving accounts which have a balance of less than Dh3,000.
In the long-term, shares have always proved a better bet than saving accounts.
At least 3 million consumers currently receive health coverage through high-deductible health insurance plans offered in conjunction with health saving accounts (HSAs), according to preliminary results of a new study by America's Health Insurance Plans (AHIP).
The latest edition of a reference for attorneys, accountants, financial planners, and insurance advisers comes up to date on congressional and administrative agency actions affecting IRAs and Coverdell Education Saving Accounts.
Now that legislation has been passed regarding Health Saving Accounts (HSAs), it is important for MTNA members to be informed of HSA benefits.
Individual saving accounts - independent of any one employer - are another important element.
Archer's plan would allow more people to create medical saving accounts by repealing the 750,000-person cap on participation and by expanding the eligibility requirements.