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

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’.
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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
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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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