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Savings Account Information: A savings account is a deposit account kept at
a commercial bank, savings bank, or a savings and loan association. The bank
will pay interest on the amount deposited. More and more banks and their
customers are turning to electronic banking, telephone banking, or online
banking, to take care of their savings accounts, rather than rely on the
traditional passbook. Use of Automated Teller Machines (ATM) has also changed
the face of the banking relationship.
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