21.Under which form is a Time Deposit account opened?
A. Form-1
B. Form-3
C. Form-5
D. GSPR-10
The correct answer is: A
22.A guardian can open a Time Deposit account on behalf of:
A. Minor below 10
B. Person of unsound mind
C. Both A and B
D. None
The correct answer is: C
23. Is it permissible to open multiple Time Deposit accounts?
A. No
B. Only joint
C. Yes, with no limit
D. Only one per term
The correct answer is: C
24.Which document is used for extending a Time Deposit account?
A. Form-1
B. Form-3
C. Form-5
D. Form-10
The correct answer is: B
25.What is the frequency of interest credit in the Time Deposit Scheme?
A. Monthly
B. Quarterly
C. Annually
D. Half-yearly
The correct answer is: C
26. Which of the following statements is true about the Time Deposit scheme?
A. Interest is compounded annually
B. No interest if deposit exceeds ₹1 lakh
C. Interest is compounded quarterly and paid annually
D. Deposits must be made monthly
The correct answer is: C
27.If the account holder fails to select the extension within the allowed period, the account:
A. Continues without extension
B. Becomes inactive
C. Closes automatically
D. Becomes invalid
The correct answer is: A
28.What happens if the interest is not withdrawn annually?
A. Additional interest is paid
B. No additional interest
C. Penalty is applied
D. Account is closed
The correct answer is: B
29. Who decides the interest rate applicable to Time Deposit accounts?
A. Ministry of Home Affairs
B. Reserve Bank of India
C. Central Government
D. Indian Postal Board
The correct answer is: C
30.Can interest payment be transferred to a Savings Account in another branch/post office?
A. No
B. Yes
C. Only with RBI approval
D. Only for 5-year TD
The correct answer is: A
