Are You Financially Literate?

Number of free transactions at other bank ATMs in non-metros
3
5
4
6
Mediclaim and Health Insurance are the same
True
False
If you sell your Debt Mutual Funds after ___ years, you will have to pay long term capital gains tax.
3
5
1
6
When your ULIP matures, you will get the
Sum Assured
Investment Made
Both
Either
In case of Car Insurance, own damages cover is mandatory.
True
False
In case you sell the property (purchased using a Home Loan) within 5 years, your tax benefits will be reversed. This applies to tax benefits under
Section 80C
Section 24
Both
None
Investment in any equity Mutual Fund can be used for tax deduction under Section 80C.
True
False
Current accounts can have sweep in facilities.
True
False
When you don't have the CVV for your card, the bank issues a new CVV number.
True
False
Minors can apply for Credit Cards.
Yes, along with a guardian.
No. They are not eligible.
Yes, if they are working.
You will be levied a penalty for not maintaining a balance in your Salary account.
True
False
Which money transfer service is available 24/7?
NEFT
IMPS
RTGS
None
You cannot withdraw the entire EPF amount until retirement.
True
False
You need to be unemployed for at least 2 months before you can withdraw your EPF. Can this be waived off?
Yes
No
Can you claim Home Loan tax benefits before you take possession of the property?
Yes
No
The bank will never ask for a collateral for any Personal Loan.
True
False
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