21.Under which form is a Time Deposit account opened?
A. Form-1
B. Form-3
C. Form-5
D. GSPR-10
[show_answer]The correct answer is: A [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
24.Which document is used for extending a Time Deposit account?
A. Form-1
B. Form-3
C. Form-5
D. Form-10
[show_answer]The correct answer is: B [/show_answer]
25.What is the frequency of interest credit in the Time Deposit Scheme?
A. Monthly
B. Quarterly
C. Annually
D. Half-yearly
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: A [/show_answer]
28.What happens if the interest is not withdrawn annually?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
[show_answer]The correct answer is: B [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: A [/show_answer]
