When there is no transaction in an Saving Bank (SB) account continuously for.....financial years, the account will be treated as silent account in Post Office Saving Schemes.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When there is no transaction in an Saving Bank (SB) account continuously for____financial years, the account will be treated as silent account in Post Office Saving Schemes.

A	2 financial years
B	5 financial years
C	4 financial years
D	3 financial years

Explanation:

Detailed explanation-1: -When there is no transaction in an SB account continuously for 3 financial years, the account will be treated as silent account. For revival, one application from the customer is required. LSG/HSG offices can revive the accounts independently.

Detailed explanation-2: -Minimum INR. 500/-Maximum INR. 1, 50, 000/-in a financial year. Deposits can be made in lump-sum or in installments. (i) a single adult by a resident Indian. Note:-Only one account can be opened all across the country either in Post Office or any Bank.

Detailed explanation-3: -Only one account can be opened in a single branch of the post office.

Detailed explanation-4: -A. Any individual above 10 years of age with valid KYC documents is eligible to open a regular savings account.

Detailed explanation-5: -Post Office Savings Bank Interest Exemption under section 10(15)(i)-Post Office savings bank interest is exempt up to Rs. 3, 500 (in an individual account) and Rs. 7, 000 (in a joint account) under section 10(15)(i) .

There is 1 question to complete.