Questions with Answer on POSB
➠01. POSB funds can be transferred through...................facility of IPPB to other banks.
a) Internet banking
b) mobile Banking
c) POSA linking
d) Sweep in/out
Answer- D
➠02. At least one transaction of deposit or withdrawal in .................... financial years is necessary to keep the account active, else account became silent(dormant).
a) 4
b) 1
c) 2
d) 3
Answer- D
➠03. RD account can be extended for further...............years by giving application at the account office.
a) Internet banking
b) mobile Banking
c) POSA linking
d) Sweep in/out
Answer- D
➠02. At least one transaction of deposit or withdrawal in .................... financial years is necessary to keep the account active, else account became silent(dormant).
a) 4
b) 1
c) 2
d) 3
Answer- D
➠03. RD account can be extended for further...............years by giving application at the account office.
a) 5
b) 1
c) 3
d) 2
Answer- A
➠04. The investment under 5 Years TD qualifies for the benefit of section 80c of the income tax act 1961 from...............
a) 01.12.2011
b) 01.04.2007
c) 01.04.2011
d) 01.04.2008
Answer- B
➠05. RD account rate of interest in July 2020 is ...........& it gets compounded.............
b) 1
c) 3
d) 2
Answer- A
➠04. The investment under 5 Years TD qualifies for the benefit of section 80c of the income tax act 1961 from...............
a) 01.12.2011
b) 01.04.2007
c) 01.04.2011
d) 01.04.2008
Answer- B
➠05. RD account rate of interest in July 2020 is ...........& it gets compounded.............
a) 5.5 and Half-yearly.
b) 7.1 and Annually
c) 5.8 and Quarterly
d) 5.8 and Monthly
Answer- C
➠06. If balance becomes NIL in the account than what will happen to post officer saving bank accounts?
a) freezed
b) Inactive
c) Closed
d) Silent
Answer- C
➠07. Interest earned is tax-free up to INR...........per year from the financial year 2012-13 in POSB.
b) 7.1 and Annually
c) 5.8 and Quarterly
d) 5.8 and Monthly
Answer- C
➠06. If balance becomes NIL in the account than what will happen to post officer saving bank accounts?
a) freezed
b) Inactive
c) Closed
d) Silent
Answer- C
➠07. Interest earned is tax-free up to INR...........per year from the financial year 2012-13 in POSB.
a) Rs. 10,000
b) Rs. 1,00,000
b) Rs. 1,00,000
c) Rs. 25.000
d) Rs. 50,000
Answer- A
➠08. What is the rebate on advance deposit of 12 months will be paid for the denomination of rupees hundred?
a) 40
b) 60
c) 80
d) 20
Answer- A
➠09. What is the interest payable on the amount of interest that has become due for payment but not withdrawn by the account holder in TD accounts?
a) POSB rate of interest
b) TD 1 Year rate of interest
c) No interest
d) None of these
d) Rs. 50,000
Answer- A
➠08. What is the rebate on advance deposit of 12 months will be paid for the denomination of rupees hundred?
a) 40
b) 60
c) 80
d) 20
Answer- A
➠09. What is the interest payable on the amount of interest that has become due for payment but not withdrawn by the account holder in TD accounts?
a) POSB rate of interest
b) TD 1 Year rate of interest
c) No interest
d) None of these
Answer- C
➠10. Online RD account deposit facility is available through Intra operable net banking/ mobile banking. Is this statement true?
a) NO
b) Yes
c) It is possible through IPPB only
d) None of these
Answer- B
➠11. In case of term deposit accounts, interest is payable...........& calculates.................
a) Annually and Annually
b) Annually and Quarterly
c) Annually and monthly
d) Quarterly and Annually
Answer- B
➠12. Protected Saving scheme is applicable for the account of denomination of Rs...........
a) Rs. 500
b) Rs. 200
c) Rs. 100
d) Rs. 50
Answer- C
➠13. Term deposit account premature encashment is not allowed before expiry of ...........months.
a) 6
b) 9
c) 3
d) 4
Answer- A
➠14. Post office saving bank account can be opened by.............
a) withdrawal form/cheque/cash
b) cash only
c) cheque/cash
d) cheque/cash/electronic transfer
Answer- B
➠15. What is the fee for non-maintenance of minimum balance in post office savings bank account?
a) Rs. 500
b) Rs. 50
c) Rs. 100
d) None of these
Answer- C
➠16.Term Deposit account can be opened in multiples of .............& minimum amount required to open an account...........
a) 500 & 1000
b) 100 & 1000
c) 10 & 100
d) 100 & 100
Answer- B
➠17. What is the minimum amount required for opening post officer saving bank accounts?
a) 500
b) 1000
c) 100
d) 50
Answer- A
➠18. POSB net banking/ mobile banking facility is ............operable.
a) Inter
b) Intra
c) Both
➠10. Online RD account deposit facility is available through Intra operable net banking/ mobile banking. Is this statement true?
a) NO
b) Yes
c) It is possible through IPPB only
d) None of these
Answer- B
➠11. In case of term deposit accounts, interest is payable...........& calculates.................
a) Annually and Annually
b) Annually and Quarterly
c) Annually and monthly
d) Quarterly and Annually
Answer- B
➠12. Protected Saving scheme is applicable for the account of denomination of Rs...........
a) Rs. 500
b) Rs. 200
c) Rs. 100
d) Rs. 50
Answer- C
➠13. Term deposit account premature encashment is not allowed before expiry of ...........months.
a) 6
b) 9
c) 3
d) 4
Answer- A
➠14. Post office saving bank account can be opened by.............
a) withdrawal form/cheque/cash
b) cash only
c) cheque/cash
d) cheque/cash/electronic transfer
Answer- B
➠15. What is the fee for non-maintenance of minimum balance in post office savings bank account?
a) Rs. 500
b) Rs. 50
c) Rs. 100
d) None of these
Answer- C
➠16.Term Deposit account can be opened in multiples of .............& minimum amount required to open an account...........
a) 500 & 1000
b) 100 & 1000
c) 10 & 100
d) 100 & 100
Answer- B
➠17. What is the minimum amount required for opening post officer saving bank accounts?
a) 500
b) 1000
c) 100
d) 50
Answer- A
➠18. POSB net banking/ mobile banking facility is ............operable.
a) Inter
b) Intra
c) Both
d) None of these
Asnwer- B
➠19. What is the default fee is charged if subsequent deposit is not made after the prescribed day in the RD account?
a) @ 1 Rs. for every 100 Rs.
b) @ 1 Rs. for every 200 rupees
Asnwer- B
➠19. What is the default fee is charged if subsequent deposit is not made after the prescribed day in the RD account?
a) @ 1 Rs. for every 100 Rs.
b) @ 1 Rs. for every 200 rupees
c) @ 2 Rs. for every 100 Rupees
d) None of these
d) None of these
Answer- C
➠20. A joint account in RD account may be opened by.........................
a) maximum of 4 adults
b) maximum of 2 adults
c) maximum of 3 adults
d) None of these
Answer- C
➠21. If 5-year term deposit account is closed between 6 months to 12 months from the date of opening, then what is the interest payable for such accounts.
a) One year TD interest
b) no interest
c) POSB rate of interest
d) None of these
Answer- C
➠22. RD account can be opened by..........................
a) maximum of 4 adults
b) maximum of 2 adults
c) maximum of 3 adults
d) None of these
Answer- C
➠21. If 5-year term deposit account is closed between 6 months to 12 months from the date of opening, then what is the interest payable for such accounts.
a) One year TD interest
b) no interest
c) POSB rate of interest
d) None of these
Answer- C
➠22. RD account can be opened by..........................
a) cheque/cash/electronic transfer
b) withdrawal form/cheque/cash
c) cheque/cash
d) cash only
Asnwer- C
➠23. After how many defaults the RD account becomes discontinued?
a) 2
b) 6
c) 3
d) 4
Answer- D
➠24. Which of the below-mentioned statement is false in respect of SB account may be opened by.......................
a) minor above 10 years of age
b) a single adult
c) joint account with maximum of four adults
d) a guardian on behalf of a minor/person of unsound mind
Answer- C
➠25. how many times a loan can be provided & up to ................. of the balance allowed after one year in RD account?
a) Two & 50%
b) One & 50%
c) Three & 60 %
d) Five & 50%
Answer- A
➠26. PPF account maturity period is ............years but the same can be extended within one year of maturity for further..............years and so on.
a) 15 & 5
b) 5 & 5
c) 15 & 2
d) 15 & 3
Answer- A
➠27. A retired personnel of defence services (excluding civilian defence employees0 shall be eligible to open an account under the SCSS scheme on attaining the age of ................ years subject to the fulfillment of other specified conditions.
a) 50 years
b) 55 years
c) 60 years
d) none of these
Answer- A
➠28. PPF account can be opened with Rs.........& subsequent deposit in multiples of Rs. ...............
a) 500 & 10
b) 1000 & 100
c) 500 & 100
d) 500 & 50
Answer- D
➠29. In SCSS account, after maturity, the account can be extended for further............. years within one year of the maturity by giving application in the prescribed format. is such case, the account can be closed at any time after the expiry of ...................... year of extension without any deduction.
a) 3 years & 2 years
b) 3 years & 1 year
c) 1 year & 3 years
d) 5 years & 1 year
Answer- B
➠30. PPF premature closure can be allowed after............ years from the end of the year in which the account was opened subject to some conditions. & .........% of interest will be deducted from the date of account opening.
a) 5 & 1
b) 5 & 2
c) 6 & 1
d) 6 & 2
Answer- A
➠31. No bonus in MIS is payable on the deposits made on or after.............
a) 01.06.2011
b) 01.04.2011
c) 01.09.2011
d) 01.12.2011
Answer- D
➠32. Any PPF account in which the account holder, having deposited 500 Rs in the initial year, fails to deposit the minimum amount in the following years, shall be treated as.........................
a) Closed
b) Dormant
c) Discontinued
d) Freezed
Answer- C
➠33. MIS interest shall be payable to the account holder on completion of ...................
a) A month from the date of the deposit
b) withdrawal form/cheque/cash
c) cheque/cash
d) cash only
Asnwer- C
➠23. After how many defaults the RD account becomes discontinued?
a) 2
b) 6
c) 3
d) 4
Answer- D
➠24. Which of the below-mentioned statement is false in respect of SB account may be opened by.......................
a) minor above 10 years of age
b) a single adult
c) joint account with maximum of four adults
d) a guardian on behalf of a minor/person of unsound mind
Answer- C
➠25. how many times a loan can be provided & up to ................. of the balance allowed after one year in RD account?
a) Two & 50%
b) One & 50%
c) Three & 60 %
d) Five & 50%
Answer- A
➠26. PPF account maturity period is ............years but the same can be extended within one year of maturity for further..............years and so on.
a) 15 & 5
b) 5 & 5
c) 15 & 2
d) 15 & 3
Answer- A
➠27. A retired personnel of defence services (excluding civilian defence employees0 shall be eligible to open an account under the SCSS scheme on attaining the age of ................ years subject to the fulfillment of other specified conditions.
a) 50 years
b) 55 years
c) 60 years
d) none of these
Answer- A
➠28. PPF account can be opened with Rs.........& subsequent deposit in multiples of Rs. ...............
a) 500 & 10
b) 1000 & 100
c) 500 & 100
d) 500 & 50
Answer- D
➠29. In SCSS account, after maturity, the account can be extended for further............. years within one year of the maturity by giving application in the prescribed format. is such case, the account can be closed at any time after the expiry of ...................... year of extension without any deduction.
a) 3 years & 2 years
b) 3 years & 1 year
c) 1 year & 3 years
d) 5 years & 1 year
Answer- B
➠30. PPF premature closure can be allowed after............ years from the end of the year in which the account was opened subject to some conditions. & .........% of interest will be deducted from the date of account opening.
a) 5 & 1
b) 5 & 2
c) 6 & 1
d) 6 & 2
Answer- A
➠31. No bonus in MIS is payable on the deposits made on or after.............
a) 01.06.2011
b) 01.04.2011
c) 01.09.2011
d) 01.12.2011
Answer- D
➠32. Any PPF account in which the account holder, having deposited 500 Rs in the initial year, fails to deposit the minimum amount in the following years, shall be treated as.........................
a) Closed
b) Dormant
c) Discontinued
d) Freezed
Answer- C
➠33. MIS interest shall be payable to the account holder on completion of ...................
a) A month from the date of the deposit
b) A month followed by a month in which the account opened
c) A month in which account opened
d) None of these
Answer- A
➠34. MIS account shall be opened with a minimum deposit of one thousand rupees or any sum in multiple of one thousand rupees and there shall be ................. deposit in an account.
a) One
b) up to two allowed
c) multiple
d) None of these
Answer- A
➠35. In SCSS TDS is deducted at source on interest if the interest amount is more than INR..............p.a.
a) 10,000
b) 25,000
c) 1,00,000
d) 50,000
Answer- D
c) A month in which account opened
d) None of these
Answer- A
➠34. MIS account shall be opened with a minimum deposit of one thousand rupees or any sum in multiple of one thousand rupees and there shall be ................. deposit in an account.
a) One
b) up to two allowed
c) multiple
d) None of these
Answer- A
➠35. In SCSS TDS is deducted at source on interest if the interest amount is more than INR..............p.a.
a) 10,000
b) 25,000
c) 1,00,000
d) 50,000
Answer- D
➠36. PPF withdrawal can be taken after the expiry of ...............years from the end of the years in which the account was opened.
a) 7
b) 5
c) 4
d) 3
Answer- B
➠37. An individual can invest maximum INR..........in MIS including his share in joint accounts
a) 6.75 Lakhs
b) 9 Lakhs
c) 4.5 lakhs
d) None of these
Answer- C
➠38. Can PPF be attached with court decree order?
a) Yes on accrued amount only
b) yes it can be
c) no, it cannot be
d) not on the accrued amount but can be on interest earned
Answer- C
➠39. MIS account can be prematurely encashed after one year but before three years at the discount of ........................of the deposit.
a) 1.5%
b) 1%
c) 2%
d) None of these
Answer- C
➠40. PPF account can be opened by...........................
a) 7
b) 5
c) 4
d) 3
Answer- B
➠37. An individual can invest maximum INR..........in MIS including his share in joint accounts
a) 6.75 Lakhs
b) 9 Lakhs
c) 4.5 lakhs
d) None of these
Answer- C
➠38. Can PPF be attached with court decree order?
a) Yes on accrued amount only
b) yes it can be
c) no, it cannot be
d) not on the accrued amount but can be on interest earned
Answer- C
➠39. MIS account can be prematurely encashed after one year but before three years at the discount of ........................of the deposit.
a) 1.5%
b) 1%
c) 2%
d) None of these
Answer- C
➠40. PPF account can be opened by...........................
a) Joint with (maximum 2 adults
b) Minor above 10 years of age
c) Joint account cannot be opened and only one account can be opened by a citizen in India.
d) All the above
Answer- C
➠41. In the case of SCSS accounts, quarterly interest shall be payable on...................
a) Payable on 31 march, 30 June, 30 Sept, 31 Dec
b) Payable on 1st working day of April, July, October and January
c) Payable form the date of deposit of 31 march, 30 Sept, 31 December
d) none of these
Answer- B
➠42. In case of death of the depositor happened before 2 years, the account shall be closed and deposit refunded along with interest at the rate of .................till the date of death and at the rate of ................till the date of final closure of the account.
a) SCSS & POSB
b) SCSS with deduction of 1.5 % in depsoit & POSB
c) SCSS & SCSS
d) SCSS & SCSS with deduction of 1.5 % in deposit
Answer- A
➠43. If the SCSS account is closed prematurely with one year, then what is the interest payable
a) No interest, if paid already will be recovered
b) no interest
c) deduction of an amount equal to 1.5 % of the deposit to be deducted from already paid interest
d) POSB rate of interest
Answer- A
b) Minor above 10 years of age
c) Joint account cannot be opened and only one account can be opened by a citizen in India.
d) All the above
Answer- C
➠41. In the case of SCSS accounts, quarterly interest shall be payable on...................
a) Payable on 31 march, 30 June, 30 Sept, 31 Dec
b) Payable on 1st working day of April, July, October and January
c) Payable form the date of deposit of 31 march, 30 Sept, 31 December
d) none of these
Answer- B
➠42. In case of death of the depositor happened before 2 years, the account shall be closed and deposit refunded along with interest at the rate of .................till the date of death and at the rate of ................till the date of final closure of the account.
a) SCSS & POSB
b) SCSS with deduction of 1.5 % in depsoit & POSB
c) SCSS & SCSS
d) SCSS & SCSS with deduction of 1.5 % in deposit
Answer- A
➠43. If the SCSS account is closed prematurely with one year, then what is the interest payable
a) No interest, if paid already will be recovered
b) no interest
c) deduction of an amount equal to 1.5 % of the deposit to be deducted from already paid interest
d) POSB rate of interest
Answer- A
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