Postal Assistant/ Postmen/MTS Examination – Refresh on Post Office Savings Account (SB) -5
5-Year Recurring Deposit Account (RD)
91. What is the denomination of monthly deposits for an RD account?
a) In multiples of ₹10 b) In multiples of ₹50 c) In multiples of ₹100 d) In multiples of ₹500 Answer: b) In multiples of ₹10
92. Up to what day of the month can a subsequent deposit be made without default if the account was opened between the 1st and the 15th of a calendar month?
a) 15th b) 20th c) Last working day d) End of the next month Answer: a) 15th
93. If an RD account is opened between the 16th and the last working day of a calendar month, by what day must subsequent deposits be made to avoid default?
a) 15th of next month b) Last working day of the month c) Last working day of next month d) 5th of next month Answer: c) Last working day of the next month
94. How many maximum defaults are allowed in an RD account before it is discontinued, if not revived?
a) 2 b) 3 c) 4 d) 5 Answer: c) 4
95. What is the process to revive a discontinued RD account?
a) It cannot be revived. b) Pay the defaulted installments with default fee for each defaulted month. c) Open a new account. d) Wait for 6 months. Answer: b) Pay the defaulted installments with default fee for each defaulted month.
96. What is the maximum number of advance installments for which a rebate can be availed in an RD account?
a) 6 months or 12 months b) 18 months or 24 months c) 36 months or 48 months d) 60 months Answer: a) 6 months or 12 months
97. What is the rebate amount for an advance deposit of 12 months for a ₹100 denomination RD account?
a) ₹10 b) ₹20 c) ₹30 d) ₹40 Answer: d) ₹40
98. What is the maximum percentage of balance that can be availed as a loan against an RD account?
a) 25% b) 30% c) 50% d) 75% Answer: c) 50%
99. How is the repayment of a loan against an RD account structured?
a) Only as a lump sum at maturity b) In one lump sum or in monthly installments c) Only through monthly installments d) Deducted automatically from future deposits Answer: b) Loan can be repaid in one lump sum or in monthly installments.
100. What is the grace period for depositing an installment in an RD account without a default fee?
a) 5 days b) 10 days c) 15 days d) No grace period Answer: d) No grace period mentioned, default fee is charged for each defaulted month.
Monthly Income Scheme (MIS)
101. What is the tenure of a Monthly Income Scheme (MIS) account?
a) 3 years b) 5 years c) 7 years d) 10 years Answer: b) 5 years
102. Can a minor open an MIS account in their own name?
a) Yes b) No c) Only if above 10 years d) Only with court permission Answer: c) Yes, if minor is above 10 years.
103. If a depositor dies before the maturity of an MIS account, what happens to the account?
a) It is closed and interest is paid up to the month preceding the month in which refund is made. b) It continues until maturity. c) Funds are transferred to a default fund. d) The nominee can continue the account normally. Answer: a) Account will be closed and interest will be paid up to the month preceding the month in which refund is made.
104. What percentage of the principal is deducted if an MIS account is closed after 3 years but before 5 years?
a) 1% b) 2% c) 3% d) 5% Answer: a) 1%
105. Can an MIS account be extended after maturity?
a) Yes, for 3 years b) Yes, for 5 years c) No d) Yes, with a penalty Answer: c) No (The document states "Account cannot be extended")
106. Is the monthly interest from an MIS account deposited into the depositor's savings account?
a) No, it's given in cash. b) Yes, it can be auto-credited to the depositor's savings account in the same post office or linked to a bank account. c) Only if requested monthly. d) Only if the amount is large. Answer: b) Yes, it can be auto-credited to the depositor's savings account in the same post office or linked to a bank account.
107. If an MIS account is opened by a guardian on behalf of a minor, when does the minor become eligible to operate the account?
a) At 10 years b) At 15 years c) At 18 years (on attaining majority) d) At 21 years Answer: c) On attaining majority (18 years)
108. What is the minimum denomination of deposits for an MIS account?
a) ₹100 b) ₹500 c) ₹1,000 d) ₹5,000 Answer: c) ₹1,000
109. Are all types of deposits (cash, cheque, online) accepted for opening an MIS account?
a) Only cash b) Only cheque c) Cash or cheque d) Cash, cheque, or online transfer Answer: c) Cash or cheque
110. What is the impact of a monthly interest payment not being claimed on the MIS principal amount?
a) It is added to the principal for next month's interest calculation. b) It does not earn any additional interest. c) It is forfeited after 3 months. d) It is transferred to the Post Office Savings Account. Answer: b) It does not earn any additional interest.
Sukanya Samriddhi Account (SSA)
111. Can more than one Sukanya Samriddhi Account be opened for one girl child?
a) Yes b) No c) Only if born on different dates d) Only if parents are separated Answer: b) No
112. What is the specific exception that allows opening of more than two SSA accounts in a family?
a) Birth of twins/triplets in the first or second birth. b) Adopted children. c) If the first child is a boy. d) If the family has more than three children. Answer: a) Birth of twins/triplets in the first or second birth.
113. How many years after the opening of the account does the SSA mature?
a) 15 years b) 18 years c) 21 years d) 25 years Answer: c) 21 years from the date of opening OR till marriage of girl child, whichever is earlier.
114. What happens if the minimum deposit of ₹250 is not made in a financial year in an SSA?
a) The account is closed. b) The account becomes irregular and can be revived by paying a penalty of ₹50 per year along with the minimum deposit. c) A higher interest rate is applied. d) The account is temporarily frozen. Answer: b) The account becomes irregular and can be revived by paying a penalty of ₹50 per year along with the minimum deposit.
115. What is the maximum number of times an SSA account can be revived if it becomes irregular?
a) Once b) Twice c) Any number of times within the 15-year deposit period d) Until the child turns 18 Answer: c) Any number of times within the 15-year deposit period (implied by paying penalty for each year of default)
116. At what age can the girl child operate her Sukanya Samriddhi Account herself?
a) 10 years b) 12 years c) 18 years d) 21 years Answer: c) 18 years
117. For what specific purpose can up to 50% withdrawal be made from an SSA account after the girl child attains 18 years or passes 10th standard?
a) Marriage expenses b) Higher education expenses c) Purchase of property d) Medical emergencies Answer: b) Higher education expenses
118. Can an SSA account be prematurely closed if the girl child gets married before maturity?
a) No b) Yes, if the marriage occurs after 18 years of age. c) Only with court permission. d) Only after 5 years of account opening. Answer: b) Yes, if the marriage occurs after 18 years of age.
119. What is the lock-in period for a Sukanya Samriddhi Account before any premature closure is considered?
a) 2 years b) 3 years c) 5 years d) 10 years Answer: c) 5 years (for specific conditions like extreme compassionate grounds)
120. Is a Sukanya Samriddhi Account eligible for tax benefits under Section 80C?
a) No b) Yes c) Only for the girl child d) Only for the guardian Answer: b) Yes
Post a Comment