Passbook savings accounts allow customers to keep track of deposits, withdrawals and balances in a booklet rather than a more contemporary bank statement.

But opening a new passbook savings account might be challenging since many banks no longer offer them.

“They were the original savings accounts before electronic banking,” says Nessa Feddis, senior vice president at the American Bankers Association. “People made the deposits and withdrew money in person at the bank, and so then it was just easy enough to stamp the passbook so they knew what they had at the bank.”

But with the rise of automated and online banking, passbook savings accounts aren’t as popular as they once were, Feddis says.

Here’s a look at rates and annual percentage yields (APYs) for passbooks and statement savings accounts throughout the U.S. Statement savings accounts usually have a traditional bank statement, either paper or paperless through online banking, generated on a monthly or quarterly basis.

INSTITUTIONS Passbook 10/26/2022 Statement 10/26/2022
Rate APY Rate APY
Total bank average 1.29 1.30 0.05 0.05
Total thrift average 0.27 0.27 0.26 0.26
National average 0.48 0.48 0.16 0.16
New York metro
Bank of America N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
Citibank N/A N/A 0.05 0.05
TD Bank N/A N/A 0.02 0.02
Wells Fargo N/A N/A 0.01 0.01
New York metro bank average N/A N/A 0.02 0.02
Apple Bank for Savings N/A N/A 0.01 0.01
Columbia Bank N/A N/A 0.05 0.05
Provident Bank N/A N/A  0.05  0.05
Queens County Savings Bank N/A N/A 0.03 0.03
Ridgewood Savings Bank  0.25  0.25  0.25  0.25
New York metro thrift average 0.25 0.25 0.08 0.08
New York metro average 0.25 0.25 0.05 0.05
Los Angeles
Bank of America N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
First Citizens Bank N/A N/A 0.03 0.03
Union Bank N/A N/A 0.01 0.01
Wells Fargo N/A N/A 0.01 0.01
Los Angeles bank average N/A N/A 0.01 0.01
Beal Bank N/A N/A 0.21 0.21
Malaga Bank N/A N/A 0.05 0.05
MidFirst Bank – Los Angeles N/A N/A 0.15 0.15
Sterling Bank & Trust N/A N/A 0.10 0.10
Universal Bank N/A N/A 0.04 0.04
Los Angeles thrift average N/A N/A 0.11 0.11
Los Angeles average N/A N/A 0.06 0.06
Chicago
Bank of America N/A N/A 0.01 0.01
BMO Harris Bank N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
Fifth Third Bank N/A N/A 0.01 0.01
Northern Trust Co. N/A N/A 0.05 0.05
Chicago bank average N/A N/A 0.02 0.02
First Savings Bank of Hegewisch 0.02 0.02 0.02 0.02
Hoyne Savings Bank 0.10 0.10 0.10 0.10
Liberty Bank for Savings 0.01 0.01 0.01 0.01
Lisle Savings Bank N/A N/A 0.10 0.10
The Federal Savings Bank N/A N/A 0.25 0.25
Chicago thrift average 0.04 0.04 0.10 0.10
Chicago average 0.04 0.04 0.06 0.06
San Francisco
Bank of America N/A N/A 0.01 0.01
Bank of the West N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
Citibank N/A N/A 0.05 0.05
First Republic Bank 1.29 1.30 N/A N/A
Wells Fargo N/A N/A 0.01 0.01
San Francisco bank average 1.29 1.30 0.02 0.02
Beal Bank N/A N/A 0.21 0.21
First Federal Savings & Loan Association of San Rafael N/A N/A 0.10 0.10
Gateway Bank N/A N/A 0.10 0.10
Sterling Bank & Trust N/A N/A 0.10 0.10
San Francisco thrift average N/A N/A 0.13 0.13
San Francisco average 1.29 1.30 0.07 0.07
Philadelphia
Bank of America N/A N/A 0.01 0.01
Citizens Bank N/A N/A 0.01 0.01
PNC Bank N/A N/A 0.01 0.01
TD Bank N/A N/A 0.02 0.02
Wells Fargo N/A N/A 0.01 0.01
Philadelphia bank average N/A N/A 0.01 0.01
Firstrust Bank N/A N/A 0.05 0.05
Harleysville Bank N/A N/A 0.02 0.02
Penn Community Bank N/A N/A 0.05 0.05
Prudential Bank N/A N/A 0.01 0.01
Wilmington Savings Fund Society N/A N/A 0.05 0.05
Philadelphia thrift average N/A N/A 0.04 0.04
Philadelphia average N/A N/A 0.02 0.02
Detroit
Bank of America N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
Comerica Bank N/A N/A 0.01 0.01
Fifth Third Bank N/A N/A 0.01 0.01
PNC Bank N/A N/A 0.01 0.01
Detroit bank average N/A N/A 0.01 0.01
Auto Club Trust N/A N/A 0.05 0.05
Dearborn Federal Savings Bank 0.10 0.10 0.10 0.10
Eaton Federal Savings Bank N/A N/A 0.10 0.10
Flagstar Bank N/A N/A 0.10 0.10
Sterling Bank & Trust N/A N/A 0.10 0.10
Detroit thrift average 0.10 0.10 0.09 0.09
Detroit average 0.10 0.10 0.05 0.05
Boston
Bank of America N/A N/A 0.01 0.01
Citizens Bank N/A N/A 0.01 0.01
Eastern Bank N/A N/A 0.01 0.01
Santander Bank N/A N/A 0.03 0.03
TD Bank N/A N/A 0.02 0.02
Boston bank average N/A N/A 0.02 0.02
Cambridge Savings Bank N/A N/A 0.05 0.05
Institution for Savings in Newburyport N/A N/A 0.25 0.25
Middlesex Savings Bank 0.70 0.70 0.70 0.70
Rockland Trust Co. N/A N/A 0.01 0.01
Salem Five N/A N/A 0.01 0.01
Boston thrift average 0.70 0.70 0.20 0.20
Boston average 0.70 0.70 0.11 0.11
Houston
Amegy Bank N/A N/A 0.01 0.01
Bank of America N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
Comercia Bank N/A N/A 0.01 0.01
Frost Bank N/A N/A 0.28 0.28
PNC Bank N/A N/A 0.01 0.01
Wells Fargo Bank N/A N/A 0.01 0.01
Houston bank average N/A N/A 0.05 0.05
Beal Bank  N/A N/A 0.21 0.21
SouthStar Bank N/A N/A 0.30 0.30
Third Coast Bank N/A N/A 0.25 0.25
Houston thrift average  N/A N/A 0.25 0.25
Houston average N/A N/A 0.15 0.15
Dallas
Bank of America N/A N/A 0.01 0.01
Chase Bank N/A N/A 0.01 0.01
PNC Bank N/A N/A 0.01 0.01
Texas Capital Bank N/A N/A 0.20 0.20
Wells Fargo Bank N/A N/A 0.01 0.01
Dallas bank average N/A N/A 0.05 0.05
Beal Bank N/A N/A 0.21 0.21
Colonial Savings N/A N/A 0.05 0.05
First Command Bank N/A N/A N/A N/A
Providence Bank of Texas N/A N/A 0.40 0.40
TBK Bank N/A N/A 0.15 0.15
Dallas thrift average N/A N/A 0.20 0.20
Dallas average N/A N/A 0.13 0.13
Washington, D.C.
Bank of America N/A N/A 0.01 0.01
Capital One N/A N/A 2.32 2.35
Citibank N/A N/A 0.05 0.05
M&T Bank N/A N/A 0.01 0.01
PNC Bank N/A N/A 0.01 0.01
Truist N/A N/A 0.01 0.01
United Bank N/A N/A 0.05 0.05
Wells Fargo N/A N/A 0.01 0.01
Washington metro bank average N/A N/A 0.31 0.31
Morgan Stanley Private Bank N/A N/A 2.75 2.75
Presidential Bank N/A N/A 0.15 0.15
Washington metro thrift average N/A N/A 1.45 1.45
Washington metro average N/A N/A 0.88 0.88