National Saving Recurring 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.Who is eligible to open an RD account under the scheme?
A. Non-resident Indian (NRI)
B. Minor aged 9 years
C. Guardian on behalf of minor
D. Private limited company
2.What is the maximum number of holders allowed in a joint RD account?
A. 2
B. 3
C. 4
D. 5
3.Can a depositor hold multiple RD accounts under this scheme?
A. No
B. Only one joint and one single
C. Yes, in single or joint names
D. Only one per branch
4.What is the tenure of a National Savings RD account?
A. 3 years
B. 4 years
C. 5 years
D. 6 years
5.What is the minimum deposit amount allowed in this scheme
A. ₹10
B. ₹100
C. ₹500
D. ₹50
6.In what multiples should deposits be made?
A. ₹5
B. ₹10
C. ₹20
D. ₹50
7.If an RD account is opened on or before the 15th of a month, what is the last date for that month’s deposit?
A. 10th
B. 15th
C. 20th
D. Last working day
8.If an RD account is opened after the 15th, the deposit should be made by:
A. 10th
B. 20th
C. Last working day of the month
D. Next month
9.If an account has up to 4 defaults, what is allowed?
A. Account is permanently closed
B. Account must be restarted
C. Account can be extended by number of defaulted months
D. No action required
10.If an account has more than 4 defaults, it is considered:
A. Active
B. Revived
C. Matured
D. Discontinued
