Savings account: meaning and definition

The definition at a glance

An account intended for holding money that may earn interest according to the financial institution’s rules.

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Account statement

A record of account activity over a period. It shows money coming in and going out, with information that helps reconcile the balance.

Understand the concept Accounts and transactions

Available balance

The amount that can be used immediately after considering transactions, holds, pending activity and other commitments.

Understand the concept Accounts and transactions

Balance

The amount recorded in an account at a particular time, taking its opening balance and transactions into account. It may differ from the amount immediately available to spend.

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Savings account: what does it mean?

The definition at a glance

From meaning to practice

The definition at a glance

Connected concepts

Account statement

Available balance

Balance

From meaning to practice