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
Now accounts
 Related Terms

<< Pass throughs Passive income >>

What Happens If a Bank Fails?: How the FDIC protects depositors, including providing quick access to insured funds. More...

If you're going through hell, keep going. - Winston Churchill, Sir (1874-1965)


Copyright 2009-2019 GVC. All rights reserved.