Hi friends, here is the National Savings Time Deposit Account (TD) MCQ Quiz. In our last MCQ on POSB Schemes, we have discussed questions related to Savings Scheme and RD Accounts. In this post, we will be discussing all the questions related to TD – Time Deposit Account. These questions will be useful for Inspector Posts Exam (IPO Exam) and Postal Service Group B Exam (PS Gr.B Exam).
Those trying for GDS/MTS to Postman Exam, GDS/MTS/Postman to PA Exam and GDS to MTS Exam find this Multiple Choice Questions useful. Attempt Quiz and Share Your feedback.
Time Deposit Account (TD) MCQ Quiz
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1. What is the minimum amount for opening of TD account?
(A) 100
(B) 500
(C) 1000
(D) 250
2. For a two year TD account, what is the period from date of repayment by which option for extension may be exercised by the account holder?
(A) 3 months
(B) 6 months
(C) 9 months
(D) 12 months
3. How the annual TD account interest is paid to the account holder?
(A) Same shall be paid in hand
(B) Same shall be paid as cheque
(C) Same shall be credited into TD account
(D) Same shall be credited to savings account of the account holder
4. Under National Savings Time Deposit Scheme, 2019, “year” means a period of _ months commencing on the date of deposit in an account?
(A) 3 months
(B) 6 months
(C) 9 months
(D) 12 months
5. How many categories of time deposit accounts are available?
(A) One
(B) Two
(C) Three
(D) Four
6. No TD deposit shall be withdrawn before the expiry of __ months from the date of deposit?
(A) 12 months
(B) 6 months
(C) 3 months
(D) 18 months
7. No TD deposit shall be withdrawn before the expiry of _ months from the date of deposit?
(A) One Month
(B) 3 Months
(C) 6 Months
(D) 12 Months
8. The interest on TD account shall be payable?
(A) Monthly
(B) Quarterly
(C) Six Mothly
(D) Annually
9. What interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the TD account holder?
(A) SB Interest rate
(B) TD interest as applicable
(C) 1 % less than the normal SB Interest rate
(D) No additional interest shall be payable
10. For a 3 and 5 year TD account, what is the period from date of repayment by which option for extension may be exercised by the account holder?
(A) 6 months
(B) 12 months
(C) 18 months
(D) 24 months
11. What is the maximum limit of TD Account?
(A) Rs. 1 Lakh
(B) Rs. 5 Lakhs
(C) Rs.25 Lakhs
(D) No maximum limit
12. How many TD Accounts can be opened by a single person?
(A) Only one
(B) No limit
(C) 10 only
(D) 2 only
13. If a TD account is withdrawn prematurely after six months, but before the expiry of one year from the date of deposit, what interest shall be payable?
(A) No interest shall be payable
(B) Interest rate as applicable to POSB for the completed month
(C) Interest rate as applicable to one year TD account
(D) None of the above
14. For a one year TD account, what is the period from date of repayment by which option for extension may be exercised by the account holder?
(A) One month
(B) Three months
(C) Two Months
(D) Six months
15. Which among the following is not a recognized TD Account?
(A) 1 Year TD
(B) 2 Year TD
(C) 3 Year TD
(D) 4 Year TD
16. Who among the following can open a TD Account?
(A) a single adult
(B) Joint Account (up to 3 adults)
(C) a guardian on behalf of minor
(D) a minor above 10 years in his own name
(E) All of these
17. What is the interest rate on 5 year TD Account as of July 2021?
(A) 6.7%
(B) 5.5%
(C) 7.1%
(D) 8.5%
18. Which TD qualifies for the benefit of section 80C of Income Tax Act, 1961?
(A) 1 Year TD
(B) 2 Year TD
(C) 3 Year TD
(D) 5 Year TD
19. There shall be how many deposit in a TD account?
(A) only one
(B) One deposit in every six months
(C) Two deposit in a year
(D) Any number of deposit can be made
20. A TD account holder shall be allowed to extend the account only __ times after the initial repayment date?
(A) Once
(B) Two times
(C) three times
(D) any number of times
21. Where a TD account has become due for repayment, the account holder may at his option may further extend the account for another?
(A) One Year
(B) Five Year
(C) Three Year
(D) tenure for which the account was initially opened
22. If TD account closed after 6 month but before 1 year, which Interest rate will be applicable?
(A) PO Savings Account Interest
(B) RD Interest
(C) PPF Interest
(D) No interest shall be payable
Answers
1. (C) 1000
2. (D) 12 months
3. (D) Same shall be credited to savings account of the account holder
4. (D) 12 months
5. (D) Four
6. (B) 6 months
7. (C) 6 Months
8. (D) Annually
9. (D) No additional interest shall be payable
10. (C) 18 months
11. (D) No maximum limit
12. (B) No limit
13. (B) Interest rate as applicable to POSB for the completed month
14. (D) Six months
15. (D) 4 Year TD
16. (E) All of these
17. (A) 6.7%
18. (D) 5 Year TD
19. (A) only one
20. (B) Two times
21. (D) tenure for which the account was initially opened
22. (A) PO Savings Account Interest
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