savings deposit
Money put away
A savings deposit is money placed in a bank account that earns interest and is meant for accumulation rather than daily transactions.
Unlike checking accounts, savings deposits typically limit withdrawals and offer higher interest rates as compensation: The savings deposit earns 4% annually.
Banks use these deposits to fund loans to other customers.
- accountRecord of dealings
- interestAttention, stake, or fee
- bankPlace holding deposits
- passbookSavings account record
- balanceSteadiness or amount owed
teller · withdraw · automatic transfer · compound · high yield · money market · principal · nest egg · rainy day · piggy bank · penny jar · vault · safe · certificate · maturity · yield · accrued · thrift
- depositsCD, FDIC insurance
savings depositchecking account
Bank deposit for transactions
current account · money market account · certificate of deposit · time deposit
savings depositwithdrawal
Act of taking away
cash withdrawal · disbursement · debit · payout · redemption
savings depositspending
Outlaying of funds
expenditure · consumption · debt · borrowing · splurge
savings, deposit, save, saved, saving, saver, savers, saves, safely