Sunday, 1 July 2012

Answering Some Commonly asked Bank Interview questions







There are some Standard questions that should be prepared well by the candidate as they play a crucial role in letting the interviewers know that the candidate is suitable for the job or not. Here we have compiled some of these commonly asked Questions with suggestions on how to answer them.

Question :- Tell us Something about Yourself.
How to Answer :- This is usually the first question asked in Interviews. You should not read all the data in your resume and also do not go too deep about telling about your parents, village and grand parents etc. For example, avoid answers like- "My village name is XYZ which come under XYZ District. My school name was XYZ school which was the biggest in district with 10000 students......"
Be natural and calm. Speak Slowly and Tell them about your strengths, achievements and passions etc. This question should not take more than 3 Minutes to be answered. Keep in mind that they know that you are capable as you have already cleared the written test, now you have to show them your suitability and genuine desire for this job. So mention your strengths and interests that are related to that job. Doing a brief research about that Bank/Company before the interview is advised. Remember that at the end of the day you have to make the interviewer feel that you are the right person for this job.

Question :- Why should we Hire you in our Organization?
How to Answer :- The Interviewer wants to know your suitability for the job so in this question you should tell about your Strengths and achievements so far. You should mention your strengths so that they would come to know your fitness for the job. Do not say something which is not true about you. Remember that the Interviewers are very Experienced and they will realize if you are saying truth or just trying to Outsmart them. Avoid using phrases like "This is the Best Company" or "I want to work in this field."
Instead, try to mention good things about you that are related to that job and this will surely prove your usefulness.

Question :- What are your Strengths and Weaknesses ?
How to Answer :- This is again a very commonly asked question. The Interviewer here wants to analyze how much you know of yourself.
Strengths:- You should mention your strengths that are beneficial for them. For example, It should not be like "I am a very good cricket Player", Rather you should focus on strengths that are related to that job. For example, "I have good communication skills" Or "I Like Interacting with peopleOr "I am good at a analyzing Problems and working in a team to find out appropriate solutions".
Weaknesses :- You should not say that you do not have any Weakness. It shows that either you are Overconfident or have not assessed yourself and don't want to talk about it.
Similarly do not say phrases like "I am short tempered" Or "I get angry very soon and can do anything in anger". Rather you should genuinely mention the areas that are related to your professional life and you are trying to get better at them.

Question :- Where do you see yourself after five years from now?
How to Answer :- Here The interviewer wants to know your knowledge about career path in the job and what is your level of commitment to the job they are offering.
It should be answered realistically. Example of a horrible answer is "I will be in your seat after five years". Rather you should answer in such a way that ensures them that you are interested in making a long-term commitment towards the job and will have a long term and mutually beneficial association with them. For example "I am definitely interested in making a long-term commitment to my next position. This is exactly what I’m looking for and what I am very well qualified to do. I will do my job to the best of my ability and i am prepared to learn new things and contribute to the overall success of the organization in a number of ways. I am confident that here i will have opportunities to advance my skills and provide best of my services to the organization. "


Question :- Why did you choose to work in a bank?
Or
Why you want job in a government bank when you can get better salary in private jobs?
Or
Why you want a Clerk Job in Bank after doing B.tech.(Engineering)?
How to Answer :- These are very common questions and are asked to almost 90% of the candidates. Here The interviewer wants to know your level of willingness of working a in a bank.
Never straight away say that "I did not get a job in Private sector" or "There is lot of stress in Private jobs and government jobs are less intense and more flexible."
Rather you should answer realistically to show your genuine desire of working in a bank. If B.tech graduates are asked about opting for a bank job after engineering, they can say " Uncertainity of future and growth in IT Companies due to recent turbulence and high recent growth in banking sector." You should manipulate your answer to prove that your engineering degree would be beneficial for you in interacting with people and creating more business relationships for them.


Question :- Answering the Puzzles type Questions!
How to Answer :- Although these are not so common, but may be asked to anyone in an Interview. Herethe interviewer doesn't really want to hear exact answer from you rather they want to see if you are able to analyze the correct problem or are you just trying to hurry up without taking the time to analyze and putting some effort. They just want to see your practical approach that will be useful during you job period.
So If asked any puzzle type question, you should not Hurry up in telling the answer even if you know it. Even if you do not know the answer (and even can not find the answer), do not hurry up in saying NO. Rather you should draw the picture of problem on a paper(even if you know the answer) and take some time to analyze it (ask them if you do not understand it correctly). It will make them feel that you believe in analyzing the client requirement before reaching to any conclusion, which is a must.
So you should answer these questions by taking time, drawing it and asking them for clarifications. This will surely fill the interviewer's purpose.


Question :- Answering the Technical questions and questions related to some current scenario?
How to Answer :- Although asked rarely, but one should also prepare some topics related to banking terminologies such as Repo Rate, Reverse Repo Rate, Cash Reserve Ratio, SLR (Statutorily Liquidity Ratio), Bank Rate, OverDraft, Prime Lending Rate, 3G Spectrum, RBI, ATM(Automated teller machine), Capital Adequacy Ratio - CAR, Questions on IPL Winners, and Many More..(Click here to download Word Document containing common banking terms). Also, chairman of some main banks in India such as RBI, SEBI etc. should also be known.

Remember that although you know these terms and current affairs related to banking and common issues, yet these questions do not play a big role in determining your selection or rejection. Even if you do not know an answer, genuinely say "NO Idea Sir!" rather than wasting time and trying to fool them with random answers, It's just not worth it!

Although you should not memorize any of above sample texts and should say it in your words to convey the idea which is to prove your usefulness!!.This will surely make them believe that you are a fit for this job!!

Although we've presented comprehensive list of commonly asked questions but still the list is endless and you may be asked anything other than these. To succeed, you should keep in mind that you have to sell you professional side, show them that you are useful and you will surely be Hired!!

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