For Email Schedule time tobe accepted, Send Emails According to Schedule or Send Email Alerts WhenRecords are Created/Updated checkbox has to be checked.
To enable Scheduled Emailfor a Saved Search:
1. Navigate to Lists >Search > Saved Searches.
2. Edit the Saved Searchto be scheduled.
3. Under Email tab checkSend Emails According to Schedule checkbox.
4. Under SpecificRecipients subtab Add Recipients.
5. Under Schedule subtabchoose start/end date.
6. Click Save.