{"id":818,"date":"2025-09-17T15:13:03","date_gmt":"2025-09-17T15:13:03","guid":{"rendered":"https:\/\/postaladda.com\/mcq\/?p=818"},"modified":"2025-12-07T08:10:21","modified_gmt":"2025-12-07T08:10:21","slug":"national-savings-certificate-scheme","status":"publish","type":"post","link":"https:\/\/postaladda.com\/mcq\/national-savings-certificate-scheme\/","title":{"rendered":"MCQs on National Savings Certificate  Scheme (NSC \u2013 VIII Issue)"},"content":{"rendered":"\n<p>National Savings Certificate Scheme  (NSC \u2013 VIII Issue) Scheme-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.The National Savings Certificate (NSC) \u2013 VIII Issue is primarily designed to:<\/h2>\n\n\n\n<p>A. Provide long-term employment<br>B. Support industrial growth<br>C. Encourage small savings with fixed returns<br>D. Offer instant loan disbursement<\/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.NSC certificates can be purchased from:<\/h2>\n\n\n\n<p>A. RBI<br>B. Commercial Banks<br>C. Cooperative Banks<br>D. Post Offices<\/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\">3.Who is eligible to open a Single Holder NSC account?<\/h2>\n\n\n\n<p>A. Any Indian citizen above 21<br>B. Adult or guardian on behalf of minor or person of unsound mind<br>C. Only retired individuals<br>D. Only salaried employees<\/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\">4.What is the minimum deposit required to open an NSC account?<\/h2>\n\n\n\n<p>A. \u20b9500<br>B. \u20b91,000<br>C. \u20b91,500<br>D. \u20b9100<\/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.NSC accounts must be opened in multiples of:<\/h2>\n\n\n\n<p>A. \u20b910<br>B. \u20b950<br>C. \u20b9100<br>D. \u20b91,000<\/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\">6.Is there any maximum deposit limit under NSC?<\/h2>\n\n\n\n<p>A. \u20b95,00,000<br>B. \u20b91,50,000<br>C. \u20b910,00,000<br>D. No upper limit<\/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\">7.A depositor can open how many NSC accounts?<\/h2>\n\n\n\n<p>A. Only 1<br>B. Maximum 3<br>C. 1 per year<br>D. Any number<\/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\">8.Under which Income Tax section is NSC eligible for tax deduction?<\/h2>\n\n\n\n<p>A. Section 24<br>B. Section 80D<br>C. Section 80C<br>D. Section 10(10D)<\/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.What is the maturity period of NSC \u2013 VIII Issue?<\/h2>\n\n\n\n<p>A. 3 years<br>B. 4 years<br>C. 5 years<br>D. 7 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\">10.What is the interest rate for NSC as of 2024?<\/h2>\n\n\n\n<p>A. 6.8%<br>B. 7.1%<br>C. 7.5%<br>D. 6.5%<\/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<!--nextpage-->\n\n\n\n<h2 class=\"wp-block-heading\">11.NSC interest is:<\/h2>\n\n\n\n<p>A. Paid monthly<br>B. Paid quarterly<br>C. Compounded annually and paid at maturity<br>D. Credited yearly to savings account<\/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.Interest earned on NSC is:<\/h2>\n\n\n\n<p>A. Tax-free<br>B. Exempt under Section 10<br>C. Taxable<br>D. Notional<\/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\">13.Who can open a Joint A Type NSC account?<\/h2>\n\n\n\n<p>A. Up to 2 adults, payable to either<br>B. Up to 3 adults, payable to all jointly<br>C. Minor and one adult<br>D. Only husband and wife<\/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\">14.In Joint B Type NSC account, maturity proceeds are payable to:<\/h2>\n\n\n\n<p>A. All holders together<br>B. Either of the surviving holders<br>C. Government nominee<br>D. Post Office Savings Bank<\/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\">15.NSC can be closed before 1 year under permitted conditions. What is payable?<\/h2>\n\n\n\n<p>A. Principal and interest<br>B. No payment<br>C. Principal only<br>D. POSA interest<\/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\">16.If NSC is closed after 1 year but before 3 years, what interest is paid?<\/h2>\n\n\n\n<p>A. NSC rate<br>B. No interest<br>C. POSA interest<br>D. RBI bond 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\">17.NSC premature closure after 3 years gives:<\/h2>\n\n\n\n<p>A. NSC interest on principal<br>B. POSA rate<br>C. Only principal<br>D. No interest<\/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\">18.Which of the following is a valid reason for premature closure of NSC?<\/h2>\n\n\n\n<p>A. Death of Account Holders<br>B. Forfeiture by Gazetted Officer(If pledged)<br>C. By court order<br>D. All of the above<\/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\">19.NSC accounts can be transferred to nominee\/legal heir:<\/h2>\n\n\n\n<p>A. Only after maturity<br>B. In case of account forfeiture<br>C. On death of holder<br>D. Only on interest claim<\/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\">20.If NSC is pledged and forfeited, it can be closed:<\/h2>\n\n\n\n<p>A. After 6 months only<br>B. Only with consent of all account holders<br>C. By Gazetted Officer\u2019s order<br>D. On depositor\u2019s request<\/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.Which form is used to open an NSC account?<\/h2>\n\n\n\n<p>A. Form-7<br>B. Form-1<br>C. Form-A<br>D. SB-5<\/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.What is the tenure of NSC \u2013 VIII Issue?<\/h2>\n\n\n\n<p>A. 6 years<br>B. 3 years<br>C. 4 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:  D<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">23.Which one of the following is true about NSC nomination?<\/h2>\n\n\n\n<p>A. Only one nominee allowed<br>B. Nomination is mandatory<br>C. Nomination facility is available<br>D. Nomination allowed only for single account<\/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.NSC interest is calculated:<\/h2>\n\n\n\n<p>A. Monthly and paid quarterly<br>B. Monthly and paid annually<br>C. Quarterly compounding<br>D. Compounded annually<\/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\">25.In case of a joint account holder\u2019s death, account can be:<\/h2>\n\n\n\n<p>A. Closed prematurely only<br>B. Transferred to surviving holders<br>C. Continued by post office<br>D. Converted to single<\/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\">26.If NSC deposit amount is \u20b94,500, what is its validity?<\/h2>\n\n\n\n<p>A. Invalid, not multiple of \u20b9100<br>B. Valid<br>C. Only \u20b94,000 is accepted<br>D. Must be rounded<\/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\">27.NSC can be transferred by:<\/h2>\n\n\n\n<p>A. Will<br>B. Arbitrary decision<br>C. Court order or death<br>D. Only within the same family<\/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.On court order, NSC can be:<\/h2>\n\n\n\n<p>A. Pledged<br>B. Refunded only<br>C. Transferred to as per order<br>D. Cancelled<\/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\">29.What happens to excess deposits made beyond limit?<\/h2>\n\n\n\n<p>A. Refunded with NSC rate<br>B. Refunded with POSA interest<br>C. Refunded without interest<br>D. Forfeited<\/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\">30.Interest under NSC scheme is:<\/h2>\n\n\n\n<p>A. Paid every 6 months<br>B. Paid monthly<br>C. Paid on maturity<br>D. Paid in advance<\/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>National Savings Certificate Scheme (NSC \u2013 VIII Issue) Scheme-Practice high-quality MCQs for the Inspector of Post Office (IPO) Exam covering [&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":[1,4,18],"tags":[],"class_list":["post-818","post","type-post","status-publish","format-standard","hentry","category-blog","category-ipo-mcqs","category-ipo-paper-01"],"_links":{"self":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/818","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=818"}],"version-history":[{"count":4,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/818\/revisions"}],"predecessor-version":[{"id":1145,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/posts\/818\/revisions\/1145"}],"wp:attachment":[{"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/media?parent=818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/categories?post=818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postaladda.com\/mcq\/wp-json\/wp\/v2\/tags?post=818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}