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Know How to Answer the top FAQ’s in Banking Job Interviews

January 27, 2023

Know How to Answer the top FAQ’s in Banking Job Interviews

The selection of the candidate in any kind of job interview purely depends on the answers he/she states during the interview.

However, not only stating correct answers important but also accuracy and explanation is equally important.

In Banking job interviews, there are the top frequently asked questions by interviewers that candidates usually fail to answer correctly.

Therefore, to help you crack job interviews with ease; we have picked up the topmost frequently asked questions of banking job interviews and curated the answers the same.

Question 1- Why do you want to make a career in Banking Sector?

Answer – The banking industry is regarded as one of the most prestigious and rapidly expanding industries.

From the trainee to the general manager level, there is room for advancement in this industry, and the best part is that jobs are secure.

For More Information: Why do you Choose Banking Sector as a Career?

Question 2- What is a bank and its types?

Answer – A bank is a financial institution that deals with financial transactions. Customers can deposit and borrow money at a bank, which also looks after their economic well-being.

There are different types of banks; such as Retail Banks, Corporate banks, Business Banks, Investment Banks, and private banks.

Question 3 – Types of accounts in Banks?

Answer – There are mainly SIX types of bank accounts: current account, savings account, recurring account, Fixed account, NRI, Demat account.

Question 4 – What are the different types of loans?

Answer – The different types of loans are; secured loans, unsecured loans, demand, subsidized, concessional. If to explain each type of loan;
Then secured loans are the ones in which the borrower pledges a valuable asset as security, such as a mortgage loan.

Personal loans are examples of loans where the borrower does not put up any purchases as security regarding unsecured loans.

Moving forward explaining about the demand loans then they are short-term loans that do not have a set due date.

Subsidized loans are the hidden subsidy that lowers the interest rate.

Lastly, concessional loans supplied at the lowest possible rates on the market.

Question 5 – What are the most vital bank teller job qualities?

Answer – The bank teller must possess good communication skills, integrity, problem-solving skills, numerical knowledge, eye for detail, proficiency with banking software, relationship building, customer service skills, multitasking, technical skills, and as such skills to sustain in the market.

I believe that I have acquired these skills in my learning experience, and these will help me in my career growth.

If you think you need to polish yourself a little better, let not your knees knock thinking about your career. You must enroll in a top institute that offers a Professional Diploma in BFSI and besides these numerous benefits.

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