From Longman Dictionary of Contemporary Englishsavings accountˈsavings acˌcount noun [countable] BFBa bank account in which you keep money that you want to save for a period of time, and which pays you interest on the money you have in it → checking account, current account
Examples from the Corpus
savings account• Barclays' survey reveals that £100 deposited in a savings account in 1899 would have grown to £13,601 today.• But if you stash 90 % of your money in a savings account, your overall results will almost inevitably be mediocre.From Longman Business Dictionarysavings accountˈsavings acˌcount [countable] ACCOUNTING a bank account for saving money over a long period of time, usually with higher interest than an ordinary DEPOSIT ACCOUNTMost savings accounts pay higher interest on larger balances. → account 