General Knowledge - Questions on Indian Geography I

 Questions & Answers on the topic of Savings Bank & GSPR  2018 -2
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor

21. What is the account maintenance fee for a Post Office Savings Account as per POSA Amendment dated 09.04.2021? 
A) Rs. 20 B) Rs. 50 C) Rs. 100 D) No fee 
Answer: B) Rs. 50/- 

22. A minor who has attained how many years of age can open a Single Savings Account? 
A) 7 years B) 8 years C) 10 years D) 12 years 
Answer: C) 10 years 

23. How many adults can open a Joint Savings Account jointly? 
A) Two B) Three C) Four D) No limit
 Answer: B) Three 

24. For a Basic Savings account, what is the minimum opening balance and minimum balance to be maintained?
 A) Rs. 100 B) Rs. 500 C) Nil D) Rs. 1000
 Answer: C) Nil

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25. How many single accounts and joint accounts can an individual open in entire post offices?
 A) One single and one joint account B) Any number of single and joint accounts C) One single account only D) One joint account only
 Answer: A) One single and one joint account

26. What is the minimum amount of deposit for a Savings Account?
 A) Rs. 50 B) Rs. 10 C) Rs. 100 D) Rs. 250 
Answer: B) Rs. 10 

27. What charges are deducted for each dishonoured cheque for a Savings Account?
 A) Rs. 50 + GST B) Rs. 100 + GST C) Rs. 100 + GST + Postage charges D) Rs. 50 + Postage charges 
Answer: C) Rs. 100+GST + Postage charges

28. What is the minimum amount of withdrawal for a Savings Account?
 A) Rs. 10 B) Rs. 20 C) Rs. 50 D) Rs. 100 
Answer: C) Rs. 50/- 

29. What is the maximum withdrawal limit at a Branch Office (BO) without prior sanction of the account office? 
A) Rs. 5,000/- B) Rs. 10,000/- C) Rs. 20,000/- D) Rs. 50,000/- Answer: C) Rs. 20000/- 

30. How is the Interest Bearing Balance (IBB) for a Savings Account determined?
A) Highest balance during the month B) Lowest balance between close of 10th and last day of calendar month C) Average daily balance D) Balance at the end of the month
 Answer: B) Lowest balance between close of 10th and last day of calendar month 

31. From which period is interest calculated for a Savings Account?
 A) January to December B) April to March C) July to June D) October to September 
Answer: B) April to March of every year (Financial Year) 

32. If the calculated interest amount for a Savings Account is less than Re. 1, what happens?
 A) It is rounded up to Re. 1 B) It is ignored C) It is carried forward to the next year D) It is paid in cash 
Answer: B) it should be ignored 

33. When is interest posted in Savings Accounts?
 A) January 1st every year B) April 1st every year C) July 1st every year D) October 1st every year 
Answer: B) 1st April every year 

34. What is the maturity period for a Recurring Deposit (RD) account? 
A) 3 years B) 4 years C) 5 years D) 7 years 
Answer: C) 5 years 

35. What is the minimum denomination for a Recurring Deposit (RD) account? 
A) Rs. 10 B) Rs. 50 C) Rs. 100 D) Rs. 500
 Answer: C) Rs. 100/- 

36. Can a Recurring Deposit account be prematurely closed? 
A) No, never B) Yes, after 1 year C) Yes, after 3 years D) Yes, only at maturity 
Answer: C) Yes, after 3 years 

37. What is the maximum limit for deposits in a Recurring Deposit account? 
A) Rs. 1 Lakh B) Rs. 5 Lakhs C) Rs. 10 Lakhs D) No limit 
Answer: D) No limit

38. How many withdrawals (loans) are allowed in a Recurring Deposit account?
 A) None B) Only one C) Two D) As many as needed 
Answer: B) Only one withdrawal (loan) allowed 

39. For a Recurring Deposit account, what is the rebate for advance deposits of 6 months for a Rs. 100/- denomination? 
A) Rs. 5/- B) Rs. 10/- C) Rs. 20/- D) Rs. 40/- 
Answer: B) Rs. 10/- 

40. What is the default fee for a Recurring Deposit account if monthly deposits are not paid within the last date? 
A) Rs. 1 for Rs. 100/- Dn. B) Rs. 5 for Rs. 100/- Dn. C) Rs. 10 for Rs. 100/- Dn. D) No default fee
 Answer: A) Rs.1 for Rs. 100/- Dn.