MCQs On Post Office Savings Schemes,Multiple choice questions and answers (MCQs) on POSA Scheme 2019. Short Notes on Post Office Savings Schemes. for Postal Exams/LDCE IPO Exam/PS Group B Exam/LGO Exams/GDS to Postman/MTS/Mail Gaurd/PA/SA Exams in postal department.
POST OFFICE SAVINGS ACCOUNT SALIENT FEATURES (POSB/NSSB 2019)
1. Can only open General Savings acct. There is no separate Pensions account and basic savings acct.
2. Minor can open any one of the following accounts. A guardian on behalf of a minor (or)A minor who has attained 10 yrs of age in his own name.
3. An account holder can nominate up to maximum of 4 individuals.
4. Rs50 will be deducted at the end of the financial year for accts not maintaining a minimum balance of Rs500.
5. No interest shall be allowed on an account for any month in which the balance at credit is below Rs500 at any time between 10 and last day of the calendar month.
6. Two witnesses are necessary for nomination done by illiterate during opening of account and variation or cancellation of nomination. Witness not required for literate.
7. For issue of statement of account, Rs 20/-+GST
1. Post Office Savings Account Scheme came into force on
A 12.12.2019
B 18.10.2018
C 10.12.2019
D 19.10.2018
2. Central Government made the POSA Scheme under which section of GSP Act 1873?
A Section 12
B Section 3
C Section 3A
D Section 12A
3. Joint Account under POSA Scheme 2019 can be opened by maximum ________adults
A Two Adults
B Three Adults
C Four Adults
D None of these
4. Which one of the following statement is false regarding Minor Account in POSA Scheme 2019?
A A Minor Account can be opened by a guardian on behalf of a minor
B a minor who has attained the age of ten years, in his own name can open minor account
C a minor who has attained the age of ten years, in his own name can open account even though his guardian exist
D None of these
5. In case a single account exists in the name of the surviving holder of Joint Account, the account shall be______
A Continued in accordance with the provisions of this Scheme
B It is left to the discretion of Surviving Holder
C Closed
D None of these
6. POS Account may be opened with a deposit of Rs______
A 250
B 500
C 450
D 550
7. Subsequent deposit shall be accepted under POSA scheme should not be less than Rs_______ ?
A 10
B 20
C 40
D 50
8. Minimum Amount of withdrawal may be allowed in POSA Account is Rs ______
A 40
B 150
C 100
D 50
9. What is the Account Maintenance fee for an POSA Account in which Minimum Balance of 500 not maintained at the end of the financial year ?
A Rs 25
B Rs 118
C Rs 100
D Rs 50
10. The interest at the rate of four per cent per annum shall be allowed for a calendar month on the lowest balance at the credit of an account between the close of the _____
A Tenth day and the end of the month
B Fifth day and the end of the month
C Fifteenth day and the end of the month
D Month
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