passbook savings account (Meaning)
Wordnet
passbook savings account (n)
a savings account in which deposits and withdrawals are recorded in the depositor's passbook
Synonyms & Antonyms of passbook savings account
No Synonyms and anytonyms found
passbook savings account Sentence Examples
- Sarah eagerly opened a passbook savings account at the local credit union to watch her savings grow.
- The elderly gentleman preferred to keep his money in a passbook savings account, finding comfort in its tangible format.
- The interest rates on passbook savings accounts were historically low, but it remained a convenient option for many.
- Customers would regularly visit the bank to make deposits into their passbook savings accounts, updating their records manually.
- The passbook savings account provided a sense of security for those who valued a physical representation of their funds.
- The bank offered online access to passbook savings accounts, allowing customers to check their balances and transaction history remotely.
- The monthly statements for passbook savings accounts detailed all deposits, withdrawals, and interest earned during the period.
- Many financial institutions phased out passbook savings accounts in favor of digital banking, but some still clung to their legacy systems.
- The passbook savings account held a nostalgic charm for some, evoking memories of a simpler financial era.
- Despite the introduction of more sophisticated banking options, passbook savings accounts continued to have a niche among certain demographics.
FAQs About the word passbook savings account
a savings account in which deposits and withdrawals are recorded in the depositor's passbook
No synonyms found.
No antonyms found.
Sarah eagerly opened a passbook savings account at the local credit union to watch her savings grow.
The elderly gentleman preferred to keep his money in a passbook savings account, finding comfort in its tangible format.
The interest rates on passbook savings accounts were historically low, but it remained a convenient option for many.
Customers would regularly visit the bank to make deposits into their passbook savings accounts, updating their records manually.
