Rates of interest on passbook savings are usually lower than rates available on other savings accounts.

Name: Rates of interest on passbook savings are usually lower than rates available on other savings accounts.
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Passbook savings accounts often have lower interest rates than other types of savings accounts, such as high-yield savings accounts or money market accounts. This is because passbook savings accounts may have lower minimum balance requirements and fewer fees.

Rates of Interest on Passbook Savings Are Usually Lower Than