Bank Interview Questions

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.

Nationalized banks are also known as public sector banks where the government is responsible for the deposition of money in these banks while in a private bank money is deposited by the person who owns the bank.

SIP is Systematic Investment Plan.

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.

FPO (Follow on Public Offer) is a process by which a company, which is already listed on an exchange, issues new shares to the investors or the existing shareholders, usually the promoters. FPO is used by companies to diversify their equity base. A follow-on public offer (FPO) is also called Further Public Offer.

A savings account is the most basic type of account at a bank or credit union, allowing you to deposit money, keep the funds safe, and withdraw funds as needed. Savings accounts typically pay interest on your deposits, which helps you grow your money, but rates are relatively low on these low-risk accounts.

A checking account is a deposit account held at a financial institution that allows withdrawals and deposits. Also called demand accounts or transactional accounts, checking accounts are very liquid and can be accessed using checks, automated teller machines and electronic debits, among other methods.

Hence, Saving accounts usually offer higher interest rates than checking accounts.