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
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: B [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
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
[show_answer]The correct answer is: D [/show_answer]
15.If account is not extended post maturity, the interest payable is:
A. SCSS rate
B. No interest
C. Bank rate
D. POSA rate
[show_answer]The correct answer is: D [/show_answer]
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
[show_answer]The correct answer is: B [/show_answer]
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
[show_answer]The correct answer is: C [/show_answer]
18.Premature closure after 2 years attracts deduction of:
A. 1.5%
B. 1%
C. 2%
D. No deduction
[show_answer]The correct answer is: B [/show_answer]
19.What is the maturity period of an SCSS account?
A. 3 years
B. 5 years
C. 7 years
D. 10 years
[show_answer]The correct answer is: B [/show_answer]
20.The account can be extended for how many years?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
[show_answer]The correct answer is: C [/show_answer]
