**MCQs on Bank & Post Office Deposit Scheme**

**1. PPF stands for?**

A. Public profit fund

**B. Public provident fund**

C. Public potential fund

**2. The amount in PPF is………………from wealth tax.**

**A. Fully exempted**

B. Partially exempted

C. Both A & B

D. None of these

**3. In case of PPF, account………….be attached to any claim in case of debt or liability.**

A. Can

**B. Can not**

C. Both A & B

D. None of these

**4. Individual can have how many PPF accounts under his name either in post office or bank?**

A. Two

B. Three

C. Many

**D. Only one**

E. None of these

**5. HUF can open how many new PPF account?**

A. One

B. Two

C. Three

**D. Can’t open**

E. None of these

**6. Minimum deposit required per financial year in PPF account?**

**A. Rs.500/-**

B. Rs.1,500/-

C. Rs.2,500/-

D. Rs.1,000/-

E. None of these

**7. Maximum deposit allowed per financial year in PPF account is?**

**A. 1.5 lakhs**

B. 3.00 lakhs

C. 5 lakhs

D. 2.5 lakhs

**8. In case of in-active PPF account, you can reactivate the account by paying a penalty of Rs…………..for each financial year of default.**

A. 30

B. 40

**C. 50**

D. 60

**9. In PPF scheme, annual interest rate is not fixed and is determined by the central government from time to time. The current annual interest rate is?**

A. 7.5%

B. 7.80%

**C. 7.10%**

D. 8.10%

**10. In PPF account, loan facility is available from 3rd financial year to 6th financial year of opening the account. The eligible loan amount is………………….. of the account balance at the end of 2nd financial year.**

A. 20%

B. 30%

**C. 25%**

D. 35%

**11. The interest rate charged in loan against PPF account is 1% per annum above the applicable PPF interest rate and repayment of principal amount should be paid within 3-years. If the loan principal is partly paid or not paid within 3-years then outstanding loan principal will be charged at………………… per annum above the applicable PPF interest rate.**

**A. 6%**

B. 5%

C. 4%

D. 3%

**12. Partial withdrawal is allowed from which financial year of opening the account.**

**A. 7th**

B. 6th

C. 5th

D. 4th

**13. PPF maturity period is 15 full financial year however, PPF account can be extended even after the maturity period. The extension period can be for a block of how many financial years?**

A. 10

B. 8

C. 7

**D. 5**

**14. Sukanya Samriddhi Account (SSA) is a saving scheme launched by the government of India on………………..**

**A. 22 January 2015.**

B. 22 January 2016.

C. 22 January 2017.

D. 01 January 2015.

**15. SSA is “Girl child prosperity” scheme which aims for the higher education and marriage of a girl child. The scheme was launched under the campaign named………………………**

**A. “Beti Bachao, Beti Padhao”**

B. One Nation, One Note

C. Sabka Sath, Sabka Vikas

D. None of these

**16. In Sukanya Samriddhi Account (SSA) the minimum deposit limit for a financial year is Rs.250, whereas maximum limit is Rs.…………………**

A. 1 lakh

**B. 1.5 lakh**

C. 2 lakhs

D. 3 lakhs

**17. Total deposit period in the Sukanya Samriddhi Account is ……………?**

A. 21 years

B. 20 years

C. 16 years

**D. 15 years**

**18. Current annual interest rate in Sukanya Samriddhi Account (SSA) is?**

A. 7.1%

B. 7.4%

**C. 7.6%**

D. 8%

**19. In Sukanya Samriddhi Account (SSA) maturity is ……………………..years from account opening.**

**A. 21**

B. 15

C. 16

D. 18

**20. Partial withdrawal facility is allowed only for the education purpose of the girl child. The age of girl child should be then………………**

A. 16 years

B. 17 years

**C. 18 years**

D. 21 years

**21. In Senior Citizens Saving Scheme (SCSS) minimum deposit amount is Rs.1000, while maximum deposit limit is Rs………………………….**

**A. 15 lakhs**

B. 12 lakhs

C. 20 lakhs

D. 18 lakhs

**22. Maturity period for “Senior Citizens Saving Scheme” is…………………**

A. 10 years

B. 9 years

C. 7 years

**D. 5 years**

**23. Current annual interest rate in Senior Citizens Saving Scheme is…………………**

A. 7.20%

B. 7.60%

C. 7.80%

**D. 8%**

**24. Kisan Vikas Patra (KVP) is a saving scheme certificate. In this scheme the deposit amount gets doubled in ………………………years.**

A. 5

B. 7

**C. 10**

D. 15

**25. How many KVP certificates one can purchase?**

A. 1

B. 2

C. 3

D. 4

**E. Any number**

**26. What is the minimum deposit limit in KVP?**

**A. Rs.1000**

B. Rs.2000

C. Rs.3000

D. Any amount

**27. What is the maximum deposit limit in KVP?**

A. 15 lakhs

B. 25 lakhs

**C. No limit**

D. None of these

**28. Currently, the maturity period is how many years in KVP?**

**A. 10**

B. 12

C. 15

D. 20

**29. Current annual interest rate in KVP scheme is……………………..**

A. 6.80%

**B. 7.20%**

C. 7.80%

D. 8.10%

**30. From 01 April 2016 onwards, the interest rate of KVP scheme has been announced on a …………………..basis.**

A. Monthly

**B. Quarterly**

C. Half-yearly

D. Yearly

**31. What is the time of premature closure of KVP account from the date of issue?**

A. 20 months

B. 25 months

**C. 30 months**

D. Not available

See also…

ALL SCHEMES ONE LINEAR