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Passbook- savings account
       
 
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Passbook- savings account

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Passbook- savings account
Book issued by a bank or savings Institution to record deposits, withdrawals, and Interest earned in a Savings Account.
    
A Savings Account is a liquid account, providing FDIC insurance to $100,000 per person ($250,000 on retirement accounts), that generally offers Low or no minimum balance requirements, fewer fees and a Low rate of Interest. The account may or may not have restrictions on number of transactions, and provides the consumer with a booklet  called a passbook that has each Deposit and withdrawal stamped inside it at the time of each in-branch transaction.
Posted by  Privatebanking.com
 
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