MCQs on Senior Citizen Savings Scheme (SCSS)-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.What is the minimum age for a general citizen to open an SCSS account?
A. 55 years
B. 58 years
C. 60 years
D. 62 years
[show_answer]The correct answer is: C [/show_answer]
2.What is the minimum deposit required to open an SCSS account?
A. ₹500
B. ₹1,000
C. ₹5,000
D. ₹10,000
[show_answer]The correct answer is: B [/show_answer]
3.What is the maximum deposit limit under SCSS?
A. ₹10,00,000
B. ₹12,00,000
C. ₹15,00,000
D. ₹20,00,000
[show_answer]The correct answer is: C [/show_answer]
4.SCSS accounts allow joint accounts with:
A. Any family member
B. Only spouse
C. Children or spouse
D. Any senior citizen
[show_answer]The correct answer is: B [/show_answer]
5.In a joint SCSS account, the eligibility age is considered for:
A. Both holders
B. Only spouse
C. First account holder
D. Younger of the two
[show_answer]The correct answer is: C [/show_answer]
6.A retired civil employee aged 56 can open SCSS account if:
A. He opens within 3 months of retirement
B. He opens within 6 months
C. He opens within 1 month of receiving retirement benefits
D. Age limit is 60 years only
[show_answer]The correct answer is: C [/show_answer]
7.A retired defence personnel is eligible at minimum age of:
A. 55 years
B. 50 years
C. 60 years
D. 58 years
[show_answer]The correct answer is: B [/show_answer]
8.Can legal heirs of a deceased serving personnel open SCSS?
A. Yes
B. Only if nominee
C. No
D. Only spouse
[show_answer]The correct answer is: C [/show_answer]
9.Can multiple SCSS accounts be opened by an individual?
A. No
B. Yes, but only in same post office
C. Yes, within ₹15 lakh overall limit
D. Yes, unlimited
[show_answer]The correct answer is: C [/show_answer]
10.SCSS interest is paid:
A. Monthly
B. Annually
C. Bi-annually
D. Quarterly
[show_answer]The correct answer is: D [/show_answer]
