The limit is from one thousand to five thousand dollars.
When the fortunate depositor has reached the limit with one savings bank, there is no law to prevent his opening another account with another, or with any number of similar banks.
Remember the savings banks are not meant for capitalists, but for small depositors.
After deposits and interests have reached a total of $1,600, the interest will not go on earning interest, but will be regarded simply as a deposit.
This is in compliance with law.
Depositors, posted as to the law, open another account with another bank, and keep on till the interest limit is reached.
HOW TO DRAW MONEY
A savings bank depositor may either draw money himself or through some properly authorized person.
This is the method:
The deposit book is presented to the paying teller. The owner states the sum he wants to draw.