13.Questions on General Knowledge

 Questions & Answers on the topic of Savings Bank & GSPR  2018 -4
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor

61. For MIS premature closure, what is the deduction made from the deposit if the account is closed after 1 year up to 3 years?
 A) 1% B) 2% C) 5% D) NIL 
Answer: B) 2% 

62. For MIS premature closure, what is the deduction made from the deposit if the account is closed after 3 years but before maturity? 
A) 1% B) 2% C) 5% D) NIL
 Answer: A) 1% 

63. At what age can retired employees open a Senior Citizen's Savings Scheme (SCSS) account? 
A) 50 and above B) 55 and above C) 60 and above D) Any age if retired Answer: B) 55 and above 

64. What is the maximum deposit limit for a Senior Citizen's Savings Scheme (SCSS) account? 
A) Rs. 15 Lakhs B) Rs. 20 Lakhs C) Rs. 30 Lakhs D) No limit 
Answer: C) Rs. 30 Lakhs or retirement benefits whichever is less 

65. What is the current interest rate for the Senior Citizen's Savings Scheme (SCSS)? 
A) 7.5% B) 7.8% C) 8.2% D) 8.5% A
Answer: C) 8.2% 

66. How frequently is interest payable for the Senior Citizen's Savings Scheme (SCSS)? 

A) Monthly B) Quarterly C) Half-yearly D) Annually
 Answer: B) quarterly 

67. For Senior Citizens, when is TDS @ 10% recovered on SCSS interest?
 A) If annual interest exceeds Rs. 10,000/- B) If annual interest exceeds Rs. 40,000/- C) If annual interest exceeds Rs. 50,000/- D) Always, regardless of amount
 Answer: C) If the annual interest exceeds Rs. 50,000/- 

68. For SCSS, if the account is closed after 1 year but before 2 years, what is the deduction made from the deposit?
 A) No deduction B) 1% C) 1½ % D) 2% 
Answer: C) 1½ %  

69. For SCSS, if the account is closed on or after 2 years but before maturity, what is the deduction made from the deposit?
 A) No deduction B) 1% C) 1½ % D) 2%
 Answer: B) 1% 

70. Upon the death of the account holder in a SCSS account, what interest rate is applicable from the date of death until the final closure of the account? 
A) SCSS interest rate B) Post Office Savings Account rate C) 2% less than SCSS rate D) No interest 
Answer: B) interest at the rate applicable on Post Office Savings Account 

71. For how many years can a Public Provident Fund (PPF) account be extended without subscription? 
A) 1 year B) 3 years C) 5 years D) Any period 
Answer: C) a further block(s) of 5 years 

72. What is the current rate of interest for a Public Provident Fund (PPF) account? 
A) 6.7% B) 7.1% C) 7.5% D) 8.2% 
Answer: B) 7.1% 

73. What is the minimum annual subscription for a PPF account in a Financial Year (FY)? 

A) Rs. 100 B) Rs. 250 C) Rs. 500 D) Rs. 1,000 
Answer: C) Rs 500 

74. What is the maximum annual subscription for a PPF account in a Financial Year (FY)? 

A) Rs. 50,000 B) Rs. 1,00,000 C) Rs. 1,50,000 D) No limit 
Answer: C) Rs 1.5 Lakh 

75. What is the penalty for not making the minimum annual subscription in a PPF account? 
A) Rs. 20 for each FY B) Rs. 50 for each FY C) Rs. 100 for each FY D) Account closed immediately 
Answer: B) Rs 50/- for each FY 

76. What is the interest rate charged on a PPF loan if repaid within 36 months? 
A) 1% B) 2% C) 5% D) 6% 
Answer: A) 1 %  

77. What is the maximum percentage of balance allowed for withdrawal from a PPF account? 

A) 25% B) 40% C) 50% D) 60%
 Answer: C) Maximum 50 % of balance 

78. When can a PPF account be prematurely closed for the treatment of serious ailments or life-threatening diseases?

 A) After 1 financial year B) After 3 financial years C) After 5 financial years D) Any time 
Answer: C) After 5 Financial years excluding the year of opening 

79. What is the interest rate deduction for premature closure of a PPF account
A) 0.5% less than the eligible interest B) 1% less than the eligible interest C) 2% less than the eligible interest D) No deduction 
Answer: B) 1% less than the eligible interest 

80. What is the current rate of interest for a Sukanya Samriddhi Account (SSA)? 
A) 7.1% B) 7.5% C) 8.2% D) 8.5% 
Answer: C) 8.2%