Passbook savings accounts

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Passbook savings accounts
	• These deposits are less liquid than demand deposits. They are noncheckable. Hence, withdrawal requires physical presence. Bank can legally delay early withdrawal up to a month. Interest paid is slightly higher than the NOW Accounts.

	Embedded terms in definition
	Demand deposits Demand Interest Now accounts

	Related Terms
	Accounts payable Accounts payable management Accounts receivable Accounts receivable turnover Aging of accounts receivable Average age of accounts receivable Chart of accounts Factoring accounts receivable Ira/keogh accounts Now accounts Pledge of accounts receivable Qualified savings plan Savings and loan association Savings deposit Stretching accounts payable U.s. savings bonds Wrap or wrap accounts

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Be wiser than other people, if you can, but do not tell them so. - Lord Chesterfield

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