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    Time Deposit (TD) MCQ | National Savings Time/Term Deposit (NSTD) 2019 Quiz Questions and Answers | Post Office Exam MCQ Set [28]

    MCQs On Post Office Time Deposit Scheme 2019,Multiple choice questions and answers (MCQs) on National Savings Time/Term Deposit Scheme 2019 (NSTD 2019). Useful for Postal Exams/LDCE IPO Exam/PS Group B Exam/LGO Exams/GDS to Postman/MTS/Mail Gaurd/PA/SA Exams in postal department.


    1. PMC is allowed after 6 months up to 1 year with SB rate of interest.

    2. In PMC, after 1 year, For Completed Years - Quarterly Compound Interest at a reduced rate of 2% less than the actual interest. For Completed months - POSA interest rate.

    3. A/C may be extended for which it was initially opened. However a time limit for extension is specified after repayment for 1 Yr TD is 6 Months, 2 Yr TD is 12 Months, 3 Yr TD is 18 Months, 5 Yr TD is 18 Months.

    4. Extension is allowed only twice after initial repayment date.

    5. An Account may be pledged or transferred as security, on an application made by the depositor. If the account is pledged, agent commission not allowed.

    6. Pledge fee- Rs 100+GST.Pledge release fee- Nil.

    7. In the event of death of depositor, the surviving nominee may close the account or continue the account (By transfer) and receive the amt of deposit along with interest in the manner provided for in this Scheme.

    8. In 5 yr TD, Can claim IT exemption under section 80c.

    1. Which one of the following is not correct in National Savings Time Deposit scheme 2019?

    A No additional interest will be payable on the amount of interest that has become due for payment but not withdrawal by the account holder

    B A 2 year, 3 year or 5 year account is withdrawn prematurely interest shall be calculated at the rate which shall be less by two percent

    C payment of interest falls on a non working day, the payments will be Deemed to be due on the working day immediately succeeding the day

    D Term deposit account can be pledged to a local authority




    2. Which one of the following provision is not prescribed in National Savings Time Deposit scheme 2019?

    A Continuation of the account on death of depositors

    B Premature closer of account

    C Mandatory passbook entry

    D Application of general rules




    3. Which one of the following is incorrect with respect to National Savings Time Deposit scheme 2019?

    A TD account cannot be pledged or transferred as security

    B On death of depositors proportionate amount will be paid at to nominees as specified by depositor

    C Interest at posb will be paid if the account closed before 1 year and after 6 months from the date of deposit

    D The rate applicable on the date of opening of the account shall apply till maturity




    4. Lock in period for withdrawal of a National saving time deposit account is

    A Six months from the date of deposit

    B One year from the date of deposit

    C Three months from the date of deposit

    D Anytime after expiry of 1 month from the date of deposit




    5. Interest on a National Savings Time Deposit account shall be ?

    A Quarterly compounded and quarterly paid

    B Annually compounded and annually paid

    C Quarterly compounded and annually paid

    D Paid only on maturity




    6. How many times a National Savings Time Deposit account can be extended?

    A Twice

    B Once

    C No limits

    D Extension not allowed



    7. Fof 5 year National Savings Time Deposit account can be further extended up to

    A Up to 5 years

    B Another tenure of 5 years

    C Up to 3 year

    D Either 1, 2, 3 or 5 years




    8. What is the initial amount required for opening of a National Savings Time Deposit Account?

    A 500

    B 1000

    C 250

    D 100




    9. National Savings Time Deposit Scheme account can be opened for maximum of

    A No joint account can be opened

    B Up to three adults in joint names

    C Up to maximum of two adults in joint names

    D with spouse only



    10. What is the interest payable for premature closure of all types of TD accounts after 6 months but before one year of opening of account?

    A Savings Bank Rate

    B Term Deposit Rate

    C Less than 2% TD Rate

    D None of these




    1. POSB Short Notes

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