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PPF Account Quiz

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

What is the minimum annual investment required in a PPF account?

a)

₹100

b)

₹500

c)

₹1,000

d)

₹5,000

2.

What is the maximum amount that can be deposited in a PPF account in a financial year?

a)

₹1 lakh

b)

₹2 lakh

c)

₹1.5 lakh

d)

₹2.5 lakh

3.

What is the original lock-in period of a PPF account?

a)

5 years

b)

10 years

c)

12 years

d)

15 years

4.

What is the current annual interest rate of Public Provident Fund (PPF)?

a)

6.9%

b)

7.1%

c)

7.5%

d)

8.2%

5.

PPF interest rate is decided by which authority?

a)

RBI

b)

Finance Ministry

c)

SEBI

d)

State Government

6.

How many PPF accounts can an individual open in his/her own name?

a)

Only one

b)

Two

c)

Three

d)

No limit

7.

From which year can a PPF account holder take a loan against the balance?

a)

1st year

b)

2nd year

c)

3rd year

d)

4th year

8.

From which year can partial withdrawal from PPF be made?

a)

3rd year

b)

5th year

c)

7th year

d)

10th year

9.

What is the tenure of extension allowed after maturity of a PPF account?

a)

2 years

b)

3 years

c)

5 years

d)

10 years

10.

What is the tax status of PPF under Income Tax Act?

a)

EEE

b)

EET

c)

ETE

d)

TEE

11.

Can NRIs open a new PPF account?

a)

Yes

b)

No

c)

Only with RBI approval

d)

Only in specific banks

12.

What happens if a PPF account holder fails to deposit minimum ₹500 in a financial year?

a)

Account closes

b)

Interest stops

c)

Account becomes inactive

d)

Penalty of ₹5,000

13.

What is the fee for reactivating an inactive PPF account?

a)

₹100 per year of default + minimum deposit

b)

₹50 per year of default + minimum deposit

c)

₹10 per year of default + minimum deposit

d)

No fee

14.

Who can open a PPF account on behalf of a minor?

a)

Guardian only

b)

Grandparents only

c)

Any relative

d)

School principal

15.

Is premature closure of PPF allowed?

a)

No

b)

Yes, after 5 years with conditions

c)

Yes, after 10 years with conditions

d)

Yes, Any Time