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Why Do You Want to Join in Banking Sector? Best Answers FAQs

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Why Do You Want to Join in Banking Sector

Why Do You Want to Join in Banking Sector

Generally contenders who appear in an interview for bank jobs like PO/Clerk might come across a common question asked by an interviewer i.e. Why Do You Want to Join in Banking Sector? Candidates usually express their answer by pointing financial term which is completely incorrect and just because of this they lose the opportunity of being selected.

If an interviewer asks this type of question then you are supposed to give your answer related to growth, job security and career development. If you speak something related to remuneration like I want to join Banking sector because Bank provides handsome salary or I’m here for money then your answer leaves a negative impression on an interviewer.

During an Interview, you first listen the question “what is being asked from you”? Then try to express your thoughts through words. Do not mix your answers and don’t give an inappropriate reply to the person who is sitting in front of you. We the team of www.priavtejobshub.in is going to provide you the best answers to “why do you want to join in Banking Sector” question.

Best Answers of this Question:

Challenges: A challenge is a motivating factor for those who are ambitious and passionate about their work. It gives a chance to develop the personality as well as growth of the employee .

Scope for Growth: It is one of the fastest growing sectors with high growth rate. Banking sector always provides extra ordinary growth/development and also great opportunities for higher learning.

Job Security: If a person gets a job in public sector banks then he do not need to worry about being fired. Public sector bank provides the best job security as well as special facilities till the retirement of the employee.

Job Satisfaction: Doing work in a bank always gives the best satisfaction to the contender. An employee gets allowances and advantages and with this the most important thing i.e. self satisfaction.
Variety: Now some banks are using updated technology for their work which adds good value to their employees and it also provides them new experience. Bank jobs provide an opportunity to work in different parts of the country and sometimes other country also.  

Some Relatable Points You Can Use:
  • Bank provide challenging environment in which everyone wants to achieve goals.
  • Heavy respect of bank employer because they direct interact with customers.
  • Banking Sector provides you great opportunity to get high post i.e. from Trainee level to General Manager Level.
  • One of the major reasons is Job security, especially with Public Sector Banks.
  • Banks are now using the best available technology for their work; employees get the work on the latest banking software which adds good weight age to their profile.
Some Frequently Asked Questions In An Interview:

Question: What is investment banking?

Answer: Investment banking manages portfolios of financial assets, commodity and currency, fixed income, corporate finance, corporate advisory services for mergers and acquisitions, debt and equity writing etc.

Question: What are the different ways you can operate your accounts?

Answer: You can operate your bank accounts in different ways like

1.    Internet banking
2.    Telephone or Mobile banking
3.    Branch or Over the counter service
4.    ATM (Automated Teller Machine)

Question: What is (APR) Annual Percentage Rate?

Answer: APR stands for Annual Percentage Rate, and it is a charge or interest that the bank imposes on their customers for using their services like loans, credit cards, mortgage loan etc. The interest rate or fees imposed is calculated annually.


Question: What is ‘balloon payment’?

Answer: The ‘balloon payment’ is the final lump sum payment that is due. When the entire loan payment is not amortized over the life of the loan, the remaining balance is due as the final repayment to the lender. Balloon payment can occur within an adjustable rate or fixed rate mortgage.

Question: What is ‘Amortization’?

Answer: The repayment of the loan by installment to cover principal amount with interest is known as ‘Amortization’.

Question: What is negative Amortization?

Answer: When repayment of the loan is less than the loans accumulated interest, then negative Amortization occurs. It will increase the loan amount instead of decreasing it. It is also known as ‘deferred interest’.

Read This Also

Question: What is debt-to-Income ratio?

Answer: The debt-to-income ratio is calculated by dividing a loan applicant’s total debt payment by his gross income.

Question: What is adjustment credit?

Answer: Adjustment credit is a short-term loan made by the Federal Reserve Bank (U.S) to the commercial bank to maintain reserve requirements and support short term lending, when they are short of cash.

Question: How bank earns profit?

Answer: The bank earns profit in various ways
1.    Banking value chain
2.    Accepting deposit
3.    Providing funds to borrowers on interest
4.    Interest spread
5.    Additional charges on services like checking account maintenance, online bill payment, ATM transaction



Remember these points while attending the interview, and present your answers in a diplomatic manner. Be positive and calm at the time of interview, don’t be in rush and always sit in a good body posture. Make an eye contact with the interviewer and speak confidently. Prepare well for the interview and cover the information about post and organization.

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