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
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
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
4.What is the maximum number of account holders allowed in a joint Time Deposit account?
A. 2
B. 3
C. 4
D. 5
5.What is the minimum deposit required to open a Time Deposit account?
A. ₹500
B. ₹1000
C. ₹1500
D. ₹2000
6.In what multiples can additional deposits be made in a Time Deposit account?
A. ₹50
B. ₹10
C. ₹100
D. ₹500
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
8.How is interest calculated in Time Deposit accounts?
A. Compounded annually
B. Compounded quarterly but paid annually
C. Compounded monthly
D. Paid quarterly
9.If interest from a Time Deposit account is not withdrawn, what happens?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
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
