A Passbook savings account is similar to a traditional savings account, ... but banks often keep electronic records of passbook histories and may print transactions directly in passbooks.

A passbook savings account is a type of savings account that uses a physical booklet called a passbook. ... Read the fine print before applying to ensure they work for you.

However, passbook savings rates often aren’t competitive with high-yield savings accounts, with many earning less than 2.00% APY. By contrast, there are several 5.00% interest savings accounts ...