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
2.NSC certificates can be purchased from:
A. RBI
B. Commercial Banks
C. Cooperative Banks
D. Post Offices
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
4.What is the minimum deposit required to open an NSC account?
A. ₹500
B. ₹1,000
C. ₹1,500
D. ₹100
5.NSC accounts must be opened in multiples of:
A. ₹10
B. ₹50
C. ₹100
D. ₹1,000
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
7.A depositor can open how many NSC accounts?
A. Only 1
B. Maximum 3
C. 1 per year
D. Any number
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)
9.What is the maturity period of NSC – VIII Issue?
A. 3 years
B. 4 years
C. 5 years
D. 7 years
10.What is the interest rate for NSC as of 2024?
A. 6.8%
B. 7.1%
C. 7.5%
D. 6.5%
