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passbook savings account

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Noun1.passbook savings account - a savings account in which deposits and withdrawals are recorded in the depositor's passbookpassbook savings account - a savings account in which deposits and withdrawals are recorded in the depositor's passbook
savings account - a bank account that accumulates interest


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Obviously, that is better than your average passbook savings account.
My dad's aunt and uncle had something over a million dollars in passbook savings accounts, money saved from their Postal Service salaries and pensions.
Instead, they rely on passbook savings accounts, short-term certificates of deposit (CDs), money market accounts, or perhaps short-term Treasury bills.
 
 
 
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