The savings account
Example: Savings account stores money securely while earning interest over time
Definition
"The savings account" is a type of bank account designed to hold money securely while earning interest over time, allowing individuals to save funds for future use without frequent withdrawals.
Etymology
The term "the savings account" comes from the combination of 'savings,' derived from the Old English 'savian,' meaning to keep or preserve, and 'account,' from the Latin 'computare,' meaning to calculate or reckon. Together, they describe a financial product intended for preserving money with recorded transactions.
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"The savings account" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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