Savings Club

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DEFINITION of 'Savings Club'

A non-incorporated group that has opened some type of savings or other deposit account. The money in the account is the joint property of all club members.

BREAKING DOWN 'Savings Club'

"Savings club" also refers to a special type of savings account that comes with a passbook with coupons. Most accounts of this nature mature on a regular basis (e.g. annually). Christmas club accounts are an example of this type of account.

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RELATED FAQS
  1. How can I find an investment club in my area?

    Investment clubs have been around for several decades and are simply groups of people who get together to invest. While the ... Read Full Answer >>
  2. How does the trust maker transfer funds into a revocable trust?

    Once a revocable trust is created, a trust maker transfers funds or property into the trust by including them in a list with ... Read Full Answer >>
  3. How is marginal propensity to save calculated?

    Marginal propensity to save is used in Keynesian macroeconomics to quantify the relationship between changes in income and ... Read Full Answer >>
  4. What is the correlation between a coupon rate and the convexity of a given bond?

    Generally speaking, convexity decreases as yields increase (geometrically, the yield curve tends to flatten at higher yields). ... Read Full Answer >>
  5. How do interest rates affect a bond's coupon rate?

    A bond's coupon rate is directly affected by national interest rates, and consequently, so is its market price. Newly issued ... Read Full Answer >>
  6. How can I calculate a bond's coupon rate in Excel?

    A bond's coupon rate is simply the rate of interest it pays each year, expressed as a percentage of the bond's par value. ... Read Full Answer >>

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