Career in Banking

Banking is a very lucrative field to make career in.  Thousands of fresh graduates as well as experienced professional all over the world prefer to become Banker. Banking career has its own charm and style just like any other equally important career line such as Medicine, Marketing and Law etc. Of course, your selection in a Bank is not so easy and it requires right academic qualifications, aptitude, sincerity, dedication and experience (if applying for other than entry level position). In case you are looking forward to make a career in Banking Industry then you will benefit immensely from the following Common Bank Interview Questions with Answers.

Each country has banks which may be regional, national or international level players. For example, some of the well known and large international banks are Crédit Agricole Group, BNP Paribas, Royal Bank of Scotland, Citigroup, HSBC Holdings, Bank of America, Deutsche Bank, Bank of China, Barclays PLC etc. These top banks have their asset value in billions of dollars.

A job in banking services demands the very best of you. The job profile in banking sector is not only dynamic and challenging but it also puts you at the very heart of money management.

The finance and banking industry offers a variety of avenues for graduates from various academic disciplines, such as Analyst, Customer Relationship Management, Corporate Banking, Investment Banking Consultant, Researchers Or Tax Analysts, Equity Or Fixed Income Analysts, Financial Planner, Risk Assessment, Credit Department, Loan manager or Project Managers. The line you chose or the option available to you depends on your basic qualification, previous experience, if any and whether you love face-to-face interaction or prefer crunching numbers behind the scenes.

Common Bank Interview Questions with Answers

There can be many questions of  different types. However, for the ease of understanding let us divide these questions into different categories as follows:

  1. General Questions
  2. Experience Related Questions
  3. Industry Related Questions
  4. Working Style Related Questions
  5. HR Questions


1. General Questions

Question #1.1 : Tell us something about yourself? OR Walk us through your resume?

Tips: The probability that you are likely to be asked this question is at least 80%. Make sure that you don’t rattle out your bio data. Also ensure you complete your answer within 2 minutes so the interviewers don’t get bored

Sample Answer: My name is Simone Paul and I completed graduation in Economics with Hons. scoring 86% distinction from ABCD College. I have a natural interest in Finance and Economics. As a result I topped in my college in 3 subjects – which are Management Accountancy, Micro Economics and Financial Management.

I have done a project in this field at Ericsson and have attended two seminars held at Institute of Chartered Accountants, which have given me great exposure to current industry standards.

My mother is also a banker and father is MBA and head of marketing with a telecom company.  I am the only child of my parents.

With this background, I am confident of excelling as Treasury Officer in your bank.

The above script is just an example; hence you should make your own answer

Question #1.2 : After doing your Engineering in Computer Science, why do you wish to make a career in Banking?

Suggestions for Answer:

This is a good question. You have share with the interviewer that the scope of finding a job by an engineer is not restricted to manufacturing or technical sectors only and you are quite versatile.

Sample Answer:  Banking sector has evolved tremendously in the recent past. Banks are no more offering banking services through its branches. Because of a number of products and services being offered by the banks, the bank has reached the home and office of its customers. For example, use of ATM has allowed the customer draw cash from any machine 24 x 7. Similarly mobile banking allows the customers to view the balance and also do the transactions on the go. Hence technology is the need of the day as modern banking rides on IT and future banking will need more of technology.

Also banks need interactive websites and mobile banking which are fast and secure. Marketing of Banking operations now use large social media platforms.

For such highly evolved and booming industry, there is a growing need for tech savvy and enthusiastic professional with strong interpersonal skills. I am happy to say that I match the ideal candidate’s profile very well.

Question #1.3 : What made you decide to work for this bank?

Question #1.4 : Why should this bank hire you?

2. Experience Related Questions

Question #2.1 :What did you do in your last job?

3. Industry Related Questions

Question #3.1 : Please discuss your views about the changes in Banking Scenario?

Suggestions for Answer:

To answer this question, the candidate should have done some serious study about the scenario of banking at Regional, National and International Level. In fact this is not a simple question and it has many hidden questions which want to check the knowledge and level of understanding of the candidate along with his awareness.

Sample Answer:  Banking sector has successfully been adding new products and innovative services to its basket of products being offered to retail customer and institutional customers. I think the banking sector will keep its goal to accelerate the growth. Secondly each bank would like to optimize its costs of marketing and distribution so as to keep its overheads low without effecting its reach or quality of services.

With regards to changes, I feel that there would be marketing strategy which would be “socially engaging”. The leading banks would adopt “Intelligent Multichannel” approach over their brick and mortar branch banking.

Question #3.2 : In the changing Banking Scenario, what are the most important needs of the Banking Industry?

Suggestions for Answer:

This question is a natural extension of the previous question. If the candidate has given a good answer then there is all likelihood of the interviewer asking this question. To answer this question, the candidate should have done some deep thinking beforehand about the Banking scenario, its business practices and the marketing strategies.

Sample Answer:  We are living in a digital age, where everyday technological innovations our style of living, doing the business and even the way we do a commercial transaction. The banks will have to catch up and offer (a) Multi Channel Optimization (b) Digital Distribution and most importantly (c) Effective Sales Efforts.

Question #3.3 : To implement these changes by the Banks, what are your recommendations?

Suggestions for Answer:

To be specific, the interview board wants to understand the future vision of the candidate.

Sample Answer:  Banking sector has to achieve competitive differentiation; banks must define a clear strategy and customer proposition, and then develop the capabilities to reach these goals. Accenture recommends that banks should:

  • Establish an overall strategy that includes the appropriate capability mix and investment choices.
  • Develop an appropriate sourcing strategy to enable scale and deliver required capabilities at higher speed.

By following this next-generation approach, banks can position for growth, improve performance and achieve a competitive advantage—in the near- and long-term.

Question #3.4 : What is Fiscal deficit?

Question #3.5 :What is REPO rate and Reverse Repo Rate?

Question #3.6 :What is CRR rate?

Question #3.7 :What is SLR rate?

Question #3.8 :What is Bank Rate?

Question #3.9 :What is Money Laundering?

4. Working Style Related Questions

Question #4.1 :  How do you check your work for accuracy?
Question #4.2 : Tell me about a situation where you had to deal with an angry customer.
Question #4.3 : What is the recent skill you have acquired?

5. HR Questions

Question #5.1 : Why are you the best candidate for the job?
Question #5.2 : What are your strengths?
Question #5.3 : What are your weaknesses?
Question #5.4 : Why do you want to join our company?

Tips for preparing and appearing at the job interview

In addition to practicing for the commonly asked interview questions, a few more suggestions should be kept in mind by the shortlisted candidates appearing for the Interview Process. These are:

Interview Tip #1  Reach before time

As a serious candidate you must reach well before time. Make sure to reach about 30 minutes before the scheduled time of interview. Increase this cushion period if the traffic in your city is unpredictably heavy or you are going to a far off location and you are unsure of the location or if there are a few formalities to be completed before you may appear before the interview panel or a combination of these.

Interview Tip #2  Carry all Supportive Documents

In case you have been told then make sure to carry all the original documents for verification purpose as you may not be allowed to appear in the Interview.

In case this is not a requirement then it is still a good idea to carry good quality color photocopies of your degrees of graduation / post graduation, certificates of merit, recommendation letter, certification of participation in sports / extracurricular activities / voluntary work done etc.

Interview Tip #3  Be prepared to be there for 2 – 3 Hours

There could be a number of reasons which may require you to be present at interview venue for more than the actual interview time. For example, there could be certain formalities to be completed, or you may be required to wait for the results of first round and if selected there could be a second round soon after or simply the number of candidates present for the interview may make the scheduling go off track.

So carry some water or sandwiches or cookies – just in case. 

Interview Tip #4  Be Natural, Calm and Composed

It is quite natural that you may be a bit nervous or anxious before or during the Interview questions answers session. But practice deep breathing, take control of your emotions, think positive to put your best foot forward.  Also do not memorize the answers as the interviewers can easily find out if you are speaking your or reciting answers read from a book or guide