POSTMEN / MTS EXAMINATION 2025. - STUDY MATERIALS 1.

 Postal Assistant/ Postmen/MTS Examination – Refresh on Post Office Savings Account (SB) -2

Sukanya Samriddhi Account (SSA)

31. A Sukanya Samriddhi Account can be opened for a girl child below what age?

 a) 5 years b) 8 years c) 10 years d) 12 years 
Answer: c) 10 years 

32. What is the maximum number of Sukanya Samriddhi Accounts that can be opened for girl children in a family?

 a) One b) Two c) Three d) Any number 
Answer: b) Two (with exceptions for twins/triplets) 

33. What is the minimum initial deposit to open a Sukanya Samriddhi Account?

 a) ₹100 b) ₹250 c) ₹500 d) ₹1,000 
Answer: b) ₹250 

34. What is the maximum deposit that can be made in a Sukanya Samriddhi Account in a Financial Year? 

a) ₹1 lakh b) ₹1.50 lakh c) ₹2 lakh d) No maximum limit 
Answer: b) ₹1.50 lakh 

35. For how many years from the date of opening can deposits be made in a Sukanya Samriddhi Account?

 a) 10 years b) 14 years c) 15 years d) 21 years 
Answer: c) 15 years 

36. What is the interest rate for a Sukanya Samriddhi Account from January 1, 2024?

 a) 7.6% per annum b) 7.8% per annum c) 8.0% per annum d) 8.2% per annum 
Answer: d) 8.2% per annum 

37. How is interest earned on a Sukanya Samriddhi Account treated under the Income Tax Act?

 a) Taxable b) Partially taxable c) Tax-free d) Subject to TDS 
Answer: c) Tax free 

38. Until what age will the Sukanya Samriddhi Account be operated by the guardian? 

a) 10 years b) 15 years c) 18 years (age of majority) d) 21 years 
Answer: c) 18 years 

39. What is the maximum percentage of balance that can be withdrawn from a Sukanya Samriddhi Account after the girl child attains 18 years or passes 10th standard? 

a) 25% b) 50% c) 75% d) 100% 
Answer: b) 50% 

40. Under what condition can a Sukanya Samriddhi Account be prematurely closed after 5 years of account opening? 

a) For higher education b) On death of account holder c) For marriage of girl child before maturity d) For purchasing property 
Answer: b) On the death of account holder 

15 Year Public Provident Fund Account (PPF)

41. What is the minimum deposit required in a PPF account in a Financial Year?

 a) ₹100 b) ₹250 c) ₹500 d) ₹1,000 
Answer: c) ₹500 

42. What is the maximum deposit allowed in a PPF account in a Financial Year?

 a) ₹1 lakh b) ₹1.50 lakh c) ₹2 lakh d) No maximum limit 
Answer: b) ₹1.50 lakh 

43. From January 1, 2024, what is the interest rate for a PPF account? 

a) 6.9% per annum b) 7.0% per annum c) 7.1% per annum d) 7.2% per annum 
Answer: c) 7.1% per annum 

44. How is interest calculated for a PPF account for a calendar month?

 a) On the highest balance at the end of the month b) On the average daily balance c) On the lowest balance between the close of the fifth day and the end of the month d) On the opening balance 
Answer: c) On the lowest balance in the account between the close of the fifth day and the end of the month 

45. Is interest earned on a PPF account taxable under the Income Tax Act? 

a) Yes b) No c) Partially taxable d) Depends on the amount 
Answer: b) No 

46. When can a loan be taken from a PPF account if the account was opened during 2010-11?

 a) In 2011-12 b) In 2012-13 c) In 2013-14 d) In 2014-15 
Answer: b) In 2012-13 

47. When can a subscriber take one withdrawal from a PPF account? 

a) After 1 year excluding year of account opening b) After 3 years excluding year of account opening c) After 5 years excluding year of account opening d) After 7 years excluding year of account opening 
Answer: c) After five years excluding year of account opening 

48. What is the maximum amount of withdrawal that can be taken from a PPF account? 

a) 25% of the balance at the end of the preceding year b) 50% of the balance at the credit at the end of 4th preceding year or at the end of preceding year, whichever is lower c) 75% of the balance at the end of the 4th preceding year d) 100% of the balance at the end of the preceding year 
Answer: b) 50% of balance at the credit at the end of 4th preceding year or at the end of preceding year, whichever is lower 

49. When does a PPF account mature? 

a) After 10 Financial Years b) After 15 Financial Years excluding FY of account opening c) After 20 Financial Years d) After 15 calendar years 
Answer: b) After 15 F.Y. years excluding FY of account opening 

50. Can a discontinued PPF account be extended? 

a) Yes, indefinitely b) Yes, for a block of 3 years c) Yes, for a block of 5 years d) No 
Answer: d) No 

Senior Citizen Savings Scheme (SCSS)

51. What is the minimum age to open a Senior Citizen Savings Scheme (SCSS) account for an individual? 

a) 50 years b) 55 years c) 60 years d) 65 years 
Answer: c) 60 years 

52. Retired Civilian Employees can open an SCSS account if they are above 55 years of age and below 60 years, provided investment is made within how many months of receipt of retirement benefits? 

a) 1 month b) 2 months c) 3 months d) 6 months 
Answer: c) 3 months 

53. What is the maximum deposit limit in all SCSS accounts opened by an individual?

 a) ₹15 lakh b) ₹20 lakh c) ₹25 lakh d) ₹30 lakh 
Answer: d) ₹30 lakh 

54. From January 1, 2024, what is the interest rate for the Senior Citizen Savings Scheme (SCSS)? 

a) 7.8% per annum b) 8.0% per annum c) 8.2% per annum d) 8.5% per annum 
Answer: c) 8.2% per annum 

55. How often is interest payable for an SCSS account?

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

56. Is interest on an SCSS account taxable? 

a) No b) Yes, if total interest exceeds ₹10,000 in a financial year c) Yes, if total interest exceeds ₹50,000 in a financial year d) Always taxable 
Answer: c) Interest is taxable if total interest in all SCSS accounts exceeds ₹50,000/- in a financial year 

57. If an SCSS account is closed before 1 year, what happens to the interest paid?

 a) It is adjusted in the next quarter's interest. b) No interest will be payable, and any interest paid shall be recovered from the principal. c) Half of the interest is recovered. d) Full interest is paid. 
Answer: b) No interest will be payable and if any interest paid in account shall be recovered from principle. 

58. If an SCSS account is closed after 1 year but before 2 years from the date of opening, what percentage is deducted from the principal amount?

 a) 0.5% b) 1% c) 1.5% d) 2% 
Answer: c) 1.5% 

59. What is the maturity period for an SCSS account? 

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

60. For how long can an SCSS account be extended from the date of maturity?

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