An interview is a two way communication between a potential employer and a prospective job applicant. Retail banking refers to banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks.
Nowadays retail banking job is in huge demand. Below are some interview questions which are frequently asked in interviews:
1. What do you understand by retail banking?
Retail banking is a form of banking in which individual customers use local branches of larger commercial banks. Various services which are provided to customers in retail banking are savings and checking accounts, mortgages, personal loans, debit cards, credit cards and certificates of deposit.
2. Difference between retail banking and core banking?
Retail banking is referred to as “non commercial banking”. In retail banking the banking institutions execute transactions directly with the consumers, rather than corporations or other banks. Whereas core banking is a centralized system and every data has been kept at the server side. In this a customer can open an account in one branch and use it in second branch. Whereas in case of Retail banking, every branch has its own portion of accounts and the changes are synchronized with the center at a gap of certain time.
3. What are you looking for in a job?
Tell about the range of opportunities which you are expecting from your new job. Tell the interviewer about your dreams and what you desire to achieve in life. You can say that I want to grow in terms of interest, responsibilities, designation and monetary matters.
4. Why should I hire you?
Through this question the employer is looking for evidence that the job suits you, fits in with your general aptitudes and coincides with your long term goals. Demonstrate your accomplishments in front of the interviewer. One has to tell reasons as to why he fits into this position. Think of all the positive traits in your personality that makes you suitable for the job. You have to tell how your studies, skills, experience and personal qualities will contribute to the work of the organization.
6. Would you like to ask any question?
You should ask plenty of questions from interviewer to show interest in the position and bank. The employer won’t hire someone who has no questions. You should prepare question in advance for the interviewer such as the growth scope, your project etc.
Well, these are some of the frequently asked interview questions. Do not forget to say “thank you” to the person or people who interviewed you.
