POSTMEN / MTS EXAMINATION 2025. - STUDY MATERIALS 1.

 Postal Assistant/ Postmen/MTS Examination – Refresh on Post Office Savings Account (SB) -3

Mahila Samman Savings Certificate (MSSC)
61. What is the minimum deposit amount for a Mahila Samman Savings Certificate? 

a) ₹100 b) ₹500 c) ₹1,000 d) ₹2,000 
Answer: c) ₹1,000 

62. What is the maximum limit for deposits in a Mahila Samman Savings Certificate account?

 a) ₹1 lakh b) ₹1.5 lakhs c) ₹2 lakhs d) ₹3 lakhs 
Answer: c) ₹2 lakhs 

63. What is the interest rate for a Mahila Samman Savings Certificate? 

a) 7.0% per annum b) 7.2% per annum c) 7.5% per annum d) 8.0% per annum 
Answer: c) 7.5% per annum 

64. How often is interest compounded and credited in a Mahila Samman Savings Certificate account?'

a) Annually b) Half-yearly c) Quarterly d) Monthly 
Answer: c) Quarterly

 
65. What percentage of the eligible balance can be withdrawn from a Mahila Samman Savings Certificate after one year from the date of account opening? 

a) 25% b) 40% c) 50% d) 75% 
Answer: b) 40% 

66. What is the interest rate applicable if an account is opened or a deposit is made in contravention of the rules for MSSC?

 a) Scheme interest rate b) PO Savings Account interest rate c) 2% less than scheme interest d) No interest 
Answer: b) PO Savings Account interest 

67. What is the maturity period for a Mahila Samman Savings Certificate?

 a) 1 year b) 2 years c) 3 years d) 5 years 
Answer: b) 2 years 

68. If a Mahila Samman Savings Certificate is prematurely closed after six months without mentioning any reason, what interest rate will be paid? 

a) Scheme interest rate b) PO Savings Account interest rate c) Scheme interest less by 2% (e.g., 5.5%) d) No interest 
Answer: c) Scheme interest less by 2 per cent 

69. What documents are required to open a Mahila Samman Savings Certificate account?

 a) Only Aadhaar card b) Account Opening Form, KYC Document (Aadhaar and PAN card), KYC form for new account holder, Pay-in-Slip along with deposit amount/cheque c) Only PAN card and deposit amount d) Only Account Opening Form and deposit amount 
Answer: b) Submit Account Opening Form, KYC Document (Aadhaar and PAN card), KYC form for new account holder, Pay-in-Slip alongwith deposit amount/cheque at nearest post office. 

70. Can a guardian open a Mahila Samman Savings Certificate on behalf of a minor boy?

 a) Yes b) No, only for a minor girl c) Only if the boy is above 10 years d) Only with court order 
Answer: b) No, by the guardian on behalf of a minor girl. 
Post Office Time Deposit Account (TD)

71. What are the available account types for a Post Office Time Deposit (TD)? 

a) 1 year, 2 year, 3 year b) 1 year, 2 year, 3 year, 4 year c) 1 year, 2 year, 3 year, 5 year d) 2 year, 3 year, 5 year 
Answer: c) 1 year, 2 year, 3 year, 5 year 

72. What is the minimum deposit amount for a Post Office Time Deposit? 

a) ₹100 b) ₹500 c) ₹1,000 d) ₹5,000 
Answer: c) ₹1,000 

73. Is there a maximum limit for investment in a Post Office Time Deposit? 

a) Yes, ₹10 lakh b) Yes, ₹15 lakh c) Yes, ₹30 lakh d) No maximum limit 
Answer: d) No maximum limit 

74. For a 5-year TD, from January 1, 2024, what is the interest rate?

 a) 6.9% b) 7.0% c) 7.1% d) 7.5% 
Answer: d) 7.5% 

75. How often is interest payable for a Post Office Time Deposit? 

a) Monthly b) Quarterly c) Annually d) At maturity 
Answer: c) Annually 

76. If a TD account is closed after 6 months but before 1 year, what interest rate will be applicable?

 a) TD interest rate b) PO Savings Account interest rate c) 2% less than TD interest rate d) No interest 
Answer: b) PO Savings Account Interest rate 

77. How much is deducted from the TD interest rate if a TD account is prematurely closed after 1 year for completed years? 

a) 0.5% b) 1% c) 2% d) 3% 
Answer: c) 2% 

78. A 5-year TD opened on or after November 10, 2023, cannot be closed until how many years?

 a) 1 year b) 2 years c) 3 years d) 4 years 
Answer: d) 4 years 

79. For a 1-year TD, within how many months of maturity can the account be extended? 

a) 3 months b) 6 months c) 12 months d) 18 months 
Answer: b) 6 months 

80. To which authorities can a TD account be pledged as security?

 a) Only to RBI b) RBI/Scheduled Bank/Co-operative Society/Co-operative Bank, Corporation (public/private)/Govt. Company/Local Authority, Housing finance company, The President of India/Governor of the State c) Only to Government banks d) Only to housing finance companies Answer: b) RBI/Scheduled Bank/Co-operative Society/Co-operative Bank, Corporation (public/private)/Govt. Company/Local Authority, Housing finance company, The President of India/Governor of the State. 

National Savings Certificates (NSC)

81. From January 1, 2024, what is the interest rate for a 5-Year National Savings Certificate (VIII Issue)?

 a) 7.5% b) 7.6% c) 7.7% d) 7.8% 
Answer: c) 7.7% 

82. How often is interest compounded and payable for an NSC?

 a) Compounded monthly, payable at maturity b) Compounded quarterly, payable annually c) Compounded annually, payable at maturity d) Compounded annually, payable monthly 
Answer: c) Compounded annually but payable at maturity. 

83. What is the minimum deposit amount for an NSC? 

a) ₹100 b) ₹500 c) ₹1,000 d) ₹5,000 
Answer: c) ₹1,000 

84. Is there a maximum limit for investment in an NSC?

 a) Yes, ₹1.5 lakh b) Yes, ₹3 lakh c) Yes, ₹5 lakh d) No maximum limit 
Answer: d) No maximum limit 

85. What is the maturity period for an NSC? 

a) 3 years b) 5 years c) 7 years d) 10 years 
Answer: b) 5 years 

86. When can an NSC not be prematurely closed? 

a) For higher education b) Before 5 years except on specific conditions like death of account holder, forfeiture by a pledgee, or court order. c) For marriage purposes d) For purchasing a vehicle 
Answer: b) NSC may not be prematurely closed before 5 years except the following conditions: - On the death of a single account, or any or all the account holders in a joint account, On forfeiture by a pledgee being a Gazetted officer, On order by court. 

87. Do deposits in NSC qualify for deduction under section 80C of the Income Tax Act? 

a) No b) Yes c) Only partially d) Only for certain amounts 
Answer: b) Yes 

88. Can an NSC be transferred from one person to another on the death of the account holder to nominee/legal heirs?

 a) No b) Yes c) Only to joint holder(s) d) Only with a court order 
Answer: b) Yes 

89. Can a minor above 10 years open an NSC in his/her own name?

 a) No b) Yes c) Only with guardian's permission d) Only for certain amount 
Answer: b) Yes 

90. To which of these authorities can an NSC be pledged? 

a) Private individuals b) Housing finance company c) Any unregistered organization d) Foreign banks 
Answer: b) Housing finance company