Application for deposits

(1) A Financial Establishment shall not accept or renew any deposit except on a written application from the depositor in the form as may be prescribed to be supplied by the Financial Establishment at its own cost. (2) Such application form shall inter alia contain the following particulars, namely:- (a) the name, address and phone number of the registered office of the Financial Establishment; (b) the name, address and phone number of the main office of the Financial Establishment in Sikkim; (c) the category" of the depositor, namely whether the depositor is a shareholder or a director or a promoter the Financial Establishment or a member of the public; (d) introduction of the depositor if he/she is a new depositor; (e) the period of deposit; (f) the rate of interest, and the total amount payable to the depositor by the financial Establishment on maturity of the deposit; (g) the date on which the maturity amount will be payable to the depositor; (h) the rate of interest which will be payable to the depositor incase the depositor withdraws the deposit prematurely.