Bank Interview Questions

As you’re interested in a career in banking, plenty of reasons should spring to mind, and if they don’t you should consider choosing another path! Often students are attracted to the intellectual challenges and high-profile nature of the dealings of the finance world, the fast pace of the work here, and the rewards on offer, all of which are very valid reasons for applying to a bank. But they’re also valid reasons for applying for jobs in other parts of the finance world, so make sure you explain why you want a job at a bank, and in your chosen area in particular. Perhaps you’re keen for the broad and deep financial training and prestigious experience that only a leading bank can offer?

Your interviewers may also ask if anything puts you off banking. If you have any real doubts, an interview is not the place to air them, but it’s a great idea to show that you’ve considered the difficulties the industry is currently going through before choosing to make an application. You might say that you’re attracted to the particular professional challenges and opportunities a period of flux in an industry can offer.

‘Endorsing cheque’ ensures that the cheque get deposited into your account only. It minimizes the risk of theft. Normally, in endorsing cheque, the cashier will ask you to sign at the back of the cheque. The signature should match the payee. The image over here shows the endorsed cheque.

Foreign draft is an alternative to foreign currency; it is generally used to send money to a foreign country. It can be purchased from the commercial banks, and they will charge according to their banks rules and norms. People opt for ‘foreign draft’ for sending money as this method of sending money is cheaper and safer. It also enables receiver to access the funds quicker than a cheque or cash transfer.

Much of your answer to this question will depend on your role – so do some careful research into your chosen department. In M&A, you might spend much of your time on financial models related to the deals you’re working on, while in a trading role you might start out by assisting more senior members of the team before being given the chance to manage a trading book yourself. Beyond that, it’s important to show that you’ll be keen to take on responsibilities, but that you also recognise that your first year is about learning the ropes, usually means include following instructions from others and completing some mundane tasks.

The Accountant typically prepares the Bank Reconciliation Statement using all transactions.

Bank Reconciliation Statement :

Bank reconciliation is a process which prepares a statement accounting for the difference between the cash balance in the cash account of a company and the cash balance according to its bank statement. This statement can help a company to verify that its bank account ending balance per the bank matches the balance on hand per the company's general ledger.

The advantage of equity finance for a company – raising money by selling shares – is that this money does not have to be repaid. However, new shareholders usually get to have a say in how the company is run. Despite these rights, equity is often seen as a risky choice for investors as they will lose all their money if the company doesn’t prosper. If it does well, on the other hand, they may see their stake multiply in value many times over.

Debt finance – money raised through loans – must be repaid eventually by a company, usually with interest, but lenders won’t be able to exert as much influence as shareholders over how the company does business. The debt of a reliable company is usually seen as a safe investment, but fixed repayment schedules means that there are few opportunities for large returns.

6 months after graduating or quitting school when you have to start paying back the loans.

A grace period is one term that’s provided for student loans that allow you to delay payments up to a certain length of time, without penalty. During a grace period no late charges would apply, and the loan would not risk falling into default for missed payments. The grace period allows you time to find financial stability prior to having to make payments on your student loans.

Many students use student loans to help pay for their college expenses, including tuition, books, room and board, and other living expenses. Students are expected to repay these loans when they graduate.