BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Interest can be drawn through auto credit into savings account standing at same post office, through PDCs or ECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices. CBS stands for
|
|
Core Balance Solutions
|
|
|
Core Banking Solutions
|
|
|
Core Banking System
|
|
|
Core Banking Service
|
Explanation:
Detailed explanation-1: -Post Office MIS Interest Rate 2023 The applicable interest rate is announced every quarter. The interest rate depends on the returns yielded by the Government Bonds of the same tenure. The current Post Office MIS Interest Rate is 7.10%. The interest payouts occur monthly.
Detailed explanation-2: -5.8% interested is quarterly compounded for a year RD. This means that on the investment amount of Rs 4.5 lakh, an investor will earn not just interest from the MIS scheme but also from the RD at the maturity of the scheme.
There is 1 question to complete.