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
2.What is the minimum deposit required to open an SCSS account?
A. ₹500
B. ₹1,000
C. ₹5,000
D. ₹10,000
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
4.SCSS accounts allow joint accounts with:
A. Any family member
B. Only spouse
C. Children or spouse
D. Any senior citizen
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
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
7.A retired defence personnel is eligible at minimum age of:
A. 55 years
B. 50 years
C. 60 years
D. 58 years
8.Can legal heirs of a deceased serving personnel open SCSS?
A. Yes
B. Only if nominee
C. No
D. Only spouse
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
10.SCSS interest is paid:
A. Monthly
B. Annually
C. Bi-annually
D. Quarterly
