Does saving money at home or in certificates of deposit and savings accounts in Islamic banks fall under the ruling of "Kanz" (hoarded wealth) mentioned in Allah's saying: {And those who hoard gold and silver}?

It is permissible for a Muslim to own and save lawful money if he fulfills God's right therein. The verse: {And those who hoard gold and silver and do not spend them in the way of Allah – give them tidings of a painful punishment} indicates that if the zakat (definition) of the hoard is paid, there is no sin upon its owner. It was reported from Ibn Umar that whatever zakat is paid on is not a hoard, even if it is abundant. And it was reported from the Prophet (peace be upon him) that Allah obligated zakat to purify what remained of wealth. The blameworthy hoarding refers to withholding zakat, not merely accumulating money.