Banking Awareness Set 50 (Small Savings Schemes-2)

Banking Awareness Questions on Small Saving Schemes based on updated information, applicable from July-September 2017. Small Saving Account Banking Awareness Question

1. What is the interest payable in Senior Citizen Savings Scheme (SCSS) Account?
   A) 8.5%
   B) 8.4%
   C) 8.3%
   D) 8.2%
   
   View Answer

   Option C
   
2. What is the minimum deposit required under Senior Citizen Savings Scheme (SCSS) Account?
   A) Rs 500
   B) Rs 1,000
   C) Rs 5,000
   D) Rs 10,000
   
   View Answer

   Option B
   Explanation: Rs 1,000
3. What is the maximum deposit allowed under Senior Citizen Savings Scheme (SCSS) Account?
   A) Rs 5 lakh
   B) Rs 10 lakh
   C) Rs 15 lakh
   D) Rs 20 lakh
   
   View Answer

   Option C
   Explanation: Rs 15 lakh
4. What is the minimum maturity period of Senior Citizen Savings Scheme (SCSS) Account?
   A) 3 years
   B) 5 years
   C) 8 years
   D) 10 years
   
   View Answer

   Option B
   Explanation: Maturity period is 5 years. After maturity, the account can be extended for further three years within one year of the maturity
5. Deposit above what amount cannot be made in cash under Senior Citizen Savings Scheme (SCSS) Account?
   A) Rs 50,000
   B) Rs 1,00,000
   C) Rs 1,50,000
   D) Rs 2,00,000
   
   View Answer

   Option B
   Explanation: Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by cheque only.
6. What is the interest rate under Sukanya Samriddhi Accounts?
   A) 8.0 %
   B) 8.1 %
   C) 8.3 %
   D) 8.4 %
   
   View Answer

   Option C
    
7. What is the minimum deposit required under Sukanya Samriddhi Scheme Accounts in a financial year?
   A) Rs 500
   B) Rs 1,000
   C) Rs 5,000
   D) Rs 10,000
   
   View Answer

   Option B
   Explanation: Rs 1,000
8. What is the maximum deposit allowed under Sukanya Samriddhi Scheme Accounts in a financial year?
   A) Rs 1,00,000
   B) Rs 1,50,000
   C) Rs 2,00,000
   D) Rs 10,00,000
   
   View Answer

   Option B
   Explanation: INR. 1,50,000/- in a financial year.
9. Sukanya Samriddhi Accounts cannot be opened for a girl child with age greater than ____ .
   A) 5 years
   B) 6 years
   C) 8 years
   D) 10 years
   
   View Answer

   Option D
   Explanation: 10 years
10. Under Sukanya Samriddhi Account Scheme partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of ______
    A) 10 years
    B) 15 years
    C) 16 years
    D) 18 years
    
    View Answer

    Option D
    Explanation: 18 years