Savings account

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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.
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.
6 percent during Mar-16 with dip in current deposits and fixed deposits; however, saving deposits increased by 3.
4bn, as well as customers' saving deposits, EGP 8bn, that may have been eroded.
With small saving deposits commanding an interest rate of 8.
This has been offsetting contractions in time and saving deposits, and was helped by the rebound in FX [foreign exchange] deposits of government entities which grew by 8.
It is astonished and surprised me why KASB Bank had announced operating profit of Rs237 million while current and saving deposits were 76 percent of total deposits as of December 31 2013.
Within customers' deposits, fixed deposits as well as saving deposits registered positive growth during the period under review, though fixed deposits grew at a faster pace compared to saving deposits," The Gulf Today said.
The growth of bank deposits also remained healthy as time and saving deposits continued to benefit from the prospect of higher interest rate while heightened activity in the stock market exerted little impact on demand 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.