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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

savings account

see DEPOSIT ACCOUNT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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Talida, owned by Shaikh Hamad bin Abdulla Al Khalifa, trained by James Naylor and to be ridden by Gary Hind, looks good to win the race for Al Mustagbal Saving Account Cup which is for Group Three locally bred horses to be run over 1,400 metres, starting at 4.40pm.
Speaking about the new account, Adnan Al Salem said: "Warba Bank's Investment Saving Account is an ideal saving product offered to customers.
Daulat soon started earning a fairly good income and when she found out that Bank opened a saving account with a small amount of Pkr 5 only, she opened her first ever bank account with a deposit of Pkr 100.
One example, ING Direct's Saving Account, paid 3.2% interest for the first 12 months but crashes to 0.5% after that.
"By all means buy presents but also consider putting some money into a saving account."
He went on to say that Hesabi account enjoys many characteristics in which it is safe investment compliant with shari, and profits credited to the account on annual basis, not to mention the ability to have the account of choice ; saving account, electronic account and investment deposit.
For the bank, money in a saving account may not be callable immediately and therefore often does not incur a reserve requirement freeing up cash from the bank's vault to be lent out with interest.
On the other hand, the rating is constrained by its limited track record of operations and low proportion of low cost Current Account - Saving Account (CASA) deposits.
As for all the gifts, why not suggest she invests the money for your daughter in a children's saving account so she'll have a nest egg for the future?
He said that cotton crop was like a saving account for farmers and pledged that government would protect this account at all cost.
At present around 5 million customers hold m-wallets to avail host of services including fund transfer, utility bills payments, domestic remittances, mobile top-ups, loan repayment and saving account features.
Given that need and for providing simple and easy saving products, we have launched the online service to open the saving account. .