13.Questions on General Knowledge

 Questions & Answers on the topic of Savings Bank & GSPR  2018 -3
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor

41. How many defaults are allowed in a Recurring Deposit account before it becomes discontinued? 
A) Two B) Three C) Four D) Five 
Answer: C) Four 

42. If a Recurring Deposit account becomes discontinued, within how many months from the month of the 5th default should it be revived? 
A) 1 month B) 2 months C) 3 months D) 6 months 
Answer: B) 2 months

43. What is the maximum percentage of the amount at credit allowed as withdrawal in a Recurring Deposit account? 
A) 25% B) 50% C) 75% D) 100%
 Answer: B) 50% of the amount at credit is allowed as withdrawal. 

44. When is a withdrawal allowed in a Recurring Deposit account?
 A) After 6 months from the date of opening B) Only after ONE year from the date of opening C) After two years from the date of opening D) Any time after opening 
Answer: B) Only after ONE year from the date of opening. 

45. What is the interest rate charged on withdrawal from a Recurring Deposit account? 

A) RD interest rate B) RD interest rate + 2 % C) Savings account interest rate D) Fixed at 5% 
Answer: B) RD int rate + 2 % on the date of withdrawal 

46. When is premature closure allowed for a Recurring Deposit account? 
A) After one year from the date of opening B) After two years from the date of opening C) After three years from the date of opening D) Any time with penalty
 Answer: C) After three years from the date of opening 

47. If a Recurring Deposit account is prematurely closed, what interest rate will be allowed? 
A) The full RD interest rate B) The interest rate of savings accounts C) The RD interest rate minus 1% D) No interest
 Answer: B) at the rate of savings accounts. 

48. What is the current interest rate for a 5-Year Time Deposit (TD)? 
A) 6.9% B) 7.0% C) 7.1% D) 7.5% 
Answer: D) 7.5% 

49. What is the minimum deposit amount for a Time Deposit account? 
A) Rs. 100 B) Rs. 500 C) Rs. 1000 D) Rs. 5000 
Answer: C) Rs.1000/- 

50. Is there a maximum limit for deposits in a Time Deposit account? 
A) Yes, Rs. 10 Lakhs B) Yes, Rs. 15 Lakhs C) Yes, Rs. 20 Lakhs D) No limit 
Answer: D) No limit. 

51. How is interest calculated for Time Deposit accounts?
 A) Annually compounded, paid monthly B) Quarterly compounded, payable annually C) Simple interest, paid quarterly D) Monthly compounded, paid at maturity 
Answer: B) Quarterly compounded interest payable annually 

52. When is premature closure allowed for a Time Deposit account?
 A) After 3 months B) After 6 months C) After 1 year D) Not allowed 
Answer: B) After 6 months 

53. If a TD account is prematurely closed within 1 year, what is the interest rate applied?

 A) TD rate - 2% B) Simple interest at SB rate C) No interest D) Half of the TD rate Answer: B) Simple interest at SB rate 

54. If a TD account is prematurely closed after 1 year, what is the interest rate applied for completed years?
 A) Simple interest at SB rate B) 2% less than the TD rate specified for completed years C) Full TD rate D) No interest 
Answer: B) 2% less than the TD rate specified for completed years 

55. Can a 5-year TD account opened on or after 10.11.2023 be closed before completion of 4 years? 
A) Yes, always B) No, it cannot be closed before 4 years. C) Yes, with a penalty D) Only in case of death 
Answer: B) A 5 year TD cannot be closed before completion of 4 years. 

56. For a 1 Year TD, what is the extension period allowed?
 A) 3 months B) 6 months C) 12 months D) 18 months
 Answer: B) 6 MONTHS 

57. How many times can a TD account be extended after its initial repayment date?
 A) Once B) Twice C) Three times D) No limit 
Answer: B) only twice 

58. What is the current interest rate for the Monthly Income Account (MIS) Scheme?
 A) 6.6% B) 6.7% C) 7.1% D) 7.5% 
Answer: A) 6.6% 

59. What is the maximum investment limit for a single account in the Monthly Income Account (MIS) Scheme?
 A) Rs. 4,50,000 B) Rs. 9,00,000 C) Rs. 15,00,000 D) No limit 
Answer: B) Rs.9,00,000 

60. What is the maximum investment limit for a joint account in the Monthly Income Account (MIS) Scheme? 
A) Rs. 4,50,000 B) Rs. 9,00,000 C) Rs. 15,00,000 D) No limit Answer: C) Rs.15,00,000