National Savings Certificate Scheme (NSC – VIII Issue) Scheme-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.The National Savings Certificate (NSC) – VIII Issue is primarily designed to:
A. Provide long-term employment
B. Support industrial growth
C. Encourage small savings with fixed returns
D. Offer instant loan disbursement
[show_answer]The correct answer is: C [/show_answer]
2.NSC certificates can be purchased from:
A. RBI
B. Commercial Banks
C. Cooperative Banks
D. Post Offices
[show_answer]The correct answer is: D [/show_answer]
3.Who is eligible to open a Single Holder NSC account?
A. Any Indian citizen above 21
B. Adult or guardian on behalf of minor or person of unsound mind
C. Only retired individuals
D. Only salaried employees
[show_answer]The correct answer is: B [/show_answer]
4.What is the minimum deposit required to open an NSC account?
A. ₹500
B. ₹1,000
C. ₹1,500
D. ₹100
[show_answer]The correct answer is: B [/show_answer]
5.NSC accounts must be opened in multiples of:
A. ₹10
B. ₹50
C. ₹100
D. ₹1,000
[show_answer]The correct answer is: C [/show_answer]
6.Is there any maximum deposit limit under NSC?
A. ₹5,00,000
B. ₹1,50,000
C. ₹10,00,000
D. No upper limit
[show_answer]The correct answer is: D [/show_answer]
7.A depositor can open how many NSC accounts?
A. Only 1
B. Maximum 3
C. 1 per year
D. Any number
[show_answer]The correct answer is: D [/show_answer]
8.Under which Income Tax section is NSC eligible for tax deduction?
A. Section 24
B. Section 80D
C. Section 80C
D. Section 10(10D)
[show_answer]The correct answer is: C [/show_answer]
9.What is the maturity period of NSC – VIII Issue?
A. 3 years
B. 4 years
C. 5 years
D. 7 years
[show_answer]The correct answer is: C [/show_answer]
10.What is the interest rate for NSC as of 2024?
A. 6.8%
B. 7.1%
C. 7.5%
D. 6.5%
[show_answer]The correct answer is: B [/show_answer]
