{"id":814,"date":"2025-09-17T15:01:58","date_gmt":"2025-09-17T15:01:58","guid":{"rendered":"https:\/\/postaladda.com\/mcq\/?p=814"},"modified":"2025-12-09T02:11:36","modified_gmt":"2025-12-09T02:11:36","slug":"senior-citizen-savings-scheme-scss","status":"publish","type":"post","link":"https:\/\/postaladda.com\/mcq\/senior-citizen-savings-scheme-scss\/","title":{"rendered":"MCQs on Senior Citizen Savings Scheme (SCSS)"},"content":{"rendered":"\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1.What is the minimum age for a general citizen to open an SCSS account?<\/h2>\n\n\n\n<p>A. 55 years<br>B. 58 years<br>C. 60 years<br>D. 62 years<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">2.What is the minimum deposit required to open an SCSS account?<\/h2>\n\n\n\n<p>A. \u20b9500<br>B. \u20b91,000<br>C. \u20b95,000<br>D. \u20b910,000<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">3.What is the maximum deposit limit under SCSS?<\/h2>\n\n\n\n<p>A. \u20b910,00,000<br>B. \u20b912,00,000<br>C. \u20b915,00,000<br>D. \u20b920,00,000<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">4.SCSS accounts allow joint accounts with:<\/h2>\n\n\n\n<p>A. Any family member<br>B. Only spouse<br>C. Children or spouse<br>D. Any senior citizen<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">5.In a joint SCSS account, the eligibility age is considered for:<\/h2>\n\n\n\n<p>A. Both holders<br>B. Only spouse<br>C. First account holder<br>D. Younger of the two<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">6.A retired civil employee aged 56 can open SCSS account if:<\/h2>\n\n\n\n<p>A. He opens within 3 months of retirement<br>B. He opens within 6 months<br>C. He opens within 1 month of receiving retirement benefits<br>D. Age limit is 60 years only<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">7.A retired defence personnel is eligible at minimum age of:<\/h2>\n\n\n\n<p>A. 55 years<br>B. 50 years<br>C. 60 years<br>D. 58 years<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">8.Can legal heirs of a deceased serving personnel open SCSS?<\/h2>\n\n\n\n<p>A. Yes<br>B. Only if nominee<br>C. No<br>D. Only spouse<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">9.Can multiple SCSS accounts be opened by an individual?<\/h2>\n\n\n\n<p>A. No<br>B. Yes, but only in same post office<br>C. Yes, within \u20b915 lakh overall limit<br>D. Yes, unlimited<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">10.SCSS interest is paid:<\/h2>\n\n\n\n<p>A. Monthly<br>B. Annually<br>C. Bi-annually<br>D. Quarterly<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  D<\/div>\n\n\n\n<!--nextpage-->\n\n\n\n<h2 class=\"wp-block-heading\">11.On which dates is SCSS interest credited quarterly?<\/h2>\n\n\n\n<p>A. 1st of March, June, September, December<br>B. Last working day of each quarter<br>C. 1st working day of April, July, October, January<br>D. Any random date decided by branch<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">12.If interest remains unclaimed, then<\/h2>\n\n\n\n<p>A. It earns compound interest<br>B. No extra interest is paid<br>C. Penal interest is charged<br>D. Depositor is disqualified<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">13.What is the interest treatment for excess deposit beyond the SCSS limit?<\/h2>\n\n\n\n<p>A. SCSS rate till refund<br>B. No interest<br>C. POSA rate till refund<br>D. RBI savings rate<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">14.If an account is extended after maturity, interest is payable at:<\/h2>\n\n\n\n<p>A. Current SCSS rate<br>B. POSA rate<br>C. Rate on date of extension<br>D. Rate on original maturity date<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  D<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">15.If account is not extended post maturity, the interest payable is:<\/h2>\n\n\n\n<p>A. SCSS rate<br>B. No interest<br>C. Bank rate<br>D. POSA rate<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  D<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">16.What happens if an SCSS account is closed before 1 year?<\/h2>\n\n\n\n<p>A. No interest is paid<br>B. Interest paid is recovered<br>C. 1% deduction<br>D. 1.5% deduction<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">17.What is the penalty for premature closure after 1 year but before 2 years?<\/h2>\n\n\n\n<p>A. No penalty<br>B. 1% of deposit<br>C. 1.5% of deposit<br>D. Interest recovery<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">18.Premature closure after 2 years attracts deduction of:<\/h2>\n\n\n\n<p>A. 1.5%<br>B. 1%<br>C. 2%<br>D. No deduction<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">19.What is the maturity period of an SCSS account?<\/h2>\n\n\n\n<p>A. 3 years<br>B. 5 years<br>C. 7 years<br>D. 10 years<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">20.The account can be extended for how many years?<\/h2>\n\n\n\n<p>A. 1 year<br>B. 2 years<br>C. 3 years<br>D. 5 years<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<!--nextpage-->\n\n\n\n<h2 class=\"wp-block-heading\">21.When must extension be exercised?<\/h2>\n\n\n\n<p>A. Anytime before maturity<br>B. Within 1 year of maturity<br>C. After maturity only<br>D. At account opening<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">22.Extension of SCSS is allowed:<\/h2>\n\n\n\n<p>A. Twice<br>B. Only once<br>C. Any number of times<br>D. With special permission only<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">23.If SCSS account is extended, it can be closed after 1 year of extension:<\/h2>\n\n\n\n<p>A. With 1% penalty<br>B. With 2% penalty<br>C. Without any penalty<br>D. With RBI approval only<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">24.On death of account holder, interest is paid:<\/h2>\n\n\n\n<p>A. Until maturity<br>B. Till last day of death month<br>C. Till date of death, then POSA rate till closure<br>D. Only principal refunded<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">25.Who can continue SCSS account after death of the holder?<\/h2>\n\n\n\n<p>A. Any legal heir<br>B. Son<br>C. Spouse if nominee and eligible<br>D. None<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">26.If both spouses have separate accounts, on death of one:<\/h2>\n\n\n\n<p>A. Deceased\u2019s account must be closed<br>B. Account must be merged<br>C.Account is continued by survivor<br>D. Both continue<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  A<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">27.Deposits under SCSS must be in multiples of:<\/h2>\n\n\n\n<p>A. \u20b9100<br>B. \u20b9500<br>C. \u20b91,000<br>D. \u20b95,000<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">28.SCSS deposits are limited to:<\/h2>\n\n\n\n<p>A. Fixed \u20b915 lakh<br>B. Retirement benefits or \u20b915 lakh, whichever is lower<br>C. \u20b912 lakh only<br>D. \u20b910 lakh for non-pensioners<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  B<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">29.Interest is paid on the:<\/h2>\n\n\n\n<p>A. 15th of the month<br>B. Last date of each quarter<br>C. 1st working day of each quarter<br>D. 5th of every month<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">30.Who notifies the interest rate for SCSS?<\/h2>\n\n\n\n<p>A. RBI<br>B. Department of Posts<br>C. Ministry of Finance<br>D. Banks<\/p>\n\n\n<button class=\"show-answer-btn\" onclick=\"pa_toggle_answer(this)\">Show Answer<\/button><div class=\"answer\">The correct answer is:  C<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MCQs on Senior Citizen Savings Scheme (SCSS)-Practice high-quality MCQs for the Inspector of Post Office (IPO) Exam covering key postal [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4,1,18],"tags":[],"class_list":["post-814","post","type-post","status-publish","format-standard","hentry","category-ipo-mcqs","category-blog","category-ipo-paper-01"],"_links":{"self":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/comments?post=814"}],"version-history":[{"count":2,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/814\/revisions"}],"predecessor-version":[{"id":1151,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/814\/revisions\/1151"}],"wp:attachment":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/media?parent=814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/categories?post=814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/tags?post=814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}