Recurring Deposit Account Quiz

What is a Recurring Deposit account?

• A savings account

• A current account

• An account with no fixed maturity date

• An account where a fixed amount is deposited monthly

Who can open a Recurring Deposit account?

• Both individuals and institutions

• Only institutions

• Only individuals

• Only banks

What is the minimum monthly instalment amount for an RD account?

• Rs.50

• Rs.25

• Rs.200

• Rs.100

What is the maximum duration an RD account can be opened for?

• 120 months

• 60 months

• 12 months

• 24 months

What facility is available for RD accounts?

• Credit card facility

• Nomination facility

• Loan facility

• Insurance facility

What is issued for an RD account?

• Passbook

• Credit card

• Debit card

• Cheque book

Is premature withdrawal of the amount allowed for an RD account?

• Yes, with no penalty

• Yes, with a penalty

• No, never

• Yes, with double interest

What is the range of months for which an RD account can be opened?

• 24 months to 240 months

• 12 months to 120 months

• 3 months to 36 months

• 6 months to 60 months

What is the minimum monthly instalment amount for an RD account?

• Rs.50

• Rs.75

• Rs.100

• Rs.25

What happens if a sum of amount is deducted for premature withdrawal of an RD account?

• No deduction

• Full deduction

• Double the deduction

• Half the deduction