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Definition of savings account noun from the Oxford Advanced Learner's Dictionary

savings account

noun
 
/ˈseɪvɪŋz əkaʊnt/
 
/ˈseɪvɪŋz əkaʊnt/
(British English also deposit account)
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  1. a type of bank account that pays interest on the money that is left in it, but from which you cannot take the money out without giving notice or losing interest
    • I opened a savings account at my local bank.
    compare current accountTopics Moneyc1
See savings account in the Oxford Advanced American Dictionary

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