11.On which dates is SCSS interest credited quarterly?
A. 1st of March, June, September, December
B. Last working day of each quarter
C. 1st working day of April, July, October, January
D. Any random date decided by branch
12.If interest remains unclaimed, then
A. It earns compound interest
B. No extra interest is paid
C. Penal interest is charged
D. Depositor is disqualified
13.What is the interest treatment for excess deposit beyond the SCSS limit?
A. SCSS rate till refund
B. No interest
C. POSA rate till refund
D. RBI savings rate
14.If an account is extended after maturity, interest is payable at:
A. Current SCSS rate
B. POSA rate
C. Rate on date of extension
D. Rate on original maturity date
15.If account is not extended post maturity, the interest payable is:
A. SCSS rate
B. No interest
C. Bank rate
D. POSA rate
16.What happens if an SCSS account is closed before 1 year?
A. No interest is paid
B. Interest paid is recovered
C. 1% deduction
D. 1.5% deduction
17.What is the penalty for premature closure after 1 year but before 2 years?
A. No penalty
B. 1% of deposit
C. 1.5% of deposit
D. Interest recovery
18.Premature closure after 2 years attracts deduction of:
A. 1.5%
B. 1%
C. 2%
D. No deduction
19.What is the maturity period of an SCSS account?
A. 3 years
B. 5 years
C. 7 years
D. 10 years
20.The account can be extended for how many years?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
