National Saving Time Deposit Scheme 2019-Practice high-quality MCQs for the Inspector of Post Office (IPO) Exam covering key postal rules, procedures, and current schemes. Ideal for quick revision and accurate self-assessment based on the latest syllabus.
1.How many types of Time Deposit accounts are available under the scheme?
A. Two
B. Three
C. Four
D. Five
[show_answer]The correct answer is: C [/show_answer]
2.Which of the following is not a valid term for a National Saving Time Deposit account?
A. 1-Year
B. 2-Year
C. 4-Year
D. 5-Year
[show_answer]The correct answer is: C [/show_answer]
3.Who among the following is eligible to open a Time Deposit account?
A. HUF
B. Minor aged 9
C. Minor aged 10 in own name
D. Non-resident Indian
[show_answer]The correct answer is: C [/show_answer]
4.What is the maximum number of account holders allowed in a joint Time Deposit account?
A. 2
B. 3
C. 4
D. 5
[show_answer]The correct answer is: B [/show_answer]
5.What is the minimum deposit required to open a Time Deposit account?
A. ₹500
B. ₹1000
C. ₹1500
D. ₹2000
[show_answer]The correct answer is: B [/show_answer]
6.In what multiples can additional deposits be made in a Time Deposit account?
A. ₹50
B. ₹10
C. ₹100
D. ₹500
[show_answer]The correct answer is: C [/show_answer]
7.What is the maximum deposit limit for a Time Deposit account?
A. ₹5,00,000
B. ₹10,00,000
C. ₹15,00,000
D. No limit
[show_answer]The correct answer is: D [/show_answer]
8.How is interest calculated in Time Deposit accounts?
A. Compounded annually
B. Compounded quarterly but paid annually
C. Compounded monthly
D. Paid quarterly
[show_answer]The correct answer is: B [/show_answer]
9.If interest from a Time Deposit account is not withdrawn, what happens?
A. Interest is forfeited
B. Extra interest is paid
C. No extra interest is paid
D. It converts to recurring deposit
[show_answer]The correct answer is: C [/show_answer]
10.Can interest from a Time Deposit be credited to a Savings Account?
A. No
B. Yes, only in post office
C. Yes, if opted
D. Yes, for 5-year deposits only
[show_answer]The correct answer is: C [/show_answer]
