How to Prepare for an Interview in the Banking Sector?

Undoubtedly, the Personal Interview is one of the most challenging selection processes in any sector, and many candidates tend to make avoidable mistakes during this stage. However, for those who struggle with cracking personal interviews, there is still hope. In this discussion, we will focus on essential aspects of interviews, particularly in the banking sector, that you should keep in mind to successfully navigate the examination.

Let's delve into the intricacies of a personal interview and explore different methods to ace personal interviews, especially in the banking sector. Before we dive into preparation tips and strategies, it is crucial to have a clear understanding of the concept of an interview.

What is a Personal Interview?

A Personal Interview, as the name implies, involves a single individual being questioned, heard, and assessed by a panel of members for various purposes. Such scenarios can be observed during educational institution admissions, job recruitment processes, and even in various Reality TV shows.

Why is a Personal Interview Conducted?

While many individuals view personal interviews for a Banking Sector job as merely a test to assess a candidate's suitability, in reality, these interviews serve a broader purpose.

The nature of a Personal Interview varies depending on factors such as the job profile, sector, and specific requirements of the company or bank conducting the interview. While a candidate's academic background, work experience, and skills play a significant role in the interview's outcome, it is the candidate's interpersonal abilities that interviewers pay close attention to.

Each Personal Interview is unique to the individual candidate, considering their resume, professional background, and the company's specific needs. As a result, adequate preparation prior to the interview is essential for every candidate.

The primary purpose of a personal interview is not only to evaluate the candidate's academic and professional qualifications but also to assess their social and practical skills, aligning with the job requirements. Let's now explore the steps to prepare for an Interview in the Banking Sector.

Also Read: Upcoming Bank Exams 2023-24 List: Check Notifications, Exam Dates

Steps to Prepare for an Interview in the Banking Sector

There are many dos and don’ts as well as different steps you can take in order to prepare for an interview in the banking sector. But in all scenarios, you should keep in mind that you are preparing for answering and presenting different questions brought forth by the interviewers. Therefore, prepare accordingly. Here are some steps to prepare for an interview in the banking sector.

Brush Up on your Communication Skills

One of the key elements of a good Interview is to have good communication skills. Now, bear in mind, this does not always mean that you should be able to speak in an impeccably fluent language, in most cases in the English language. Here’s what you need for better communication skills:

• Good hold on the required language of the bank, i.e. English or Hindi, or the respective language of the place of employment. You must have the ability to carry a smooth professional conversation in the specified language.

• Improve Your Posture: Communication is done in two-fold, verbal and non-verbal. Posture is one of the most important aspects of non-verbal communication. Therefore, it is advisable to sit upright, concentrate on the interviewer who is speaking and asking the questions, avoid fidgeting around a lot while also ensuring you are focused on the task at hand, which is to answer correctly and honestly about questions posed by the interviewers.

• Be Presentable: As part of the non-verbal communication, the interviewers will assess you in the manner you present yourself. In other words, prior to an interview, take a proper bath, groom yourself, wear formal clothing, and avoid wearing too many accessories. The manner in which you present yourself would tell the interview a lot about the kind of person you are and the interest you have for the job.

Research About the Area of Employment

Another crucially important aspect of an interview is the knowledge and information you carry about the field of employment, the job profile, and the company/organisation/bank employing conducting the interview. Here are certain aspects of a banking sector interview that one must know:

• Learn more about the bank’s services and products. Let us take HDFC as an example. You must at least know the basic products and services offered by HDFC to its customers. Learning about all the products and services offered by HDFC would be better in this case. Learn about the Unique Selling Point (USP) or unique services or products of HDFC.

• Read about the Bank’s Policy. Taking HDFC as an example, check out the policies pertaining to different customer relations, services and products which should be adhered to by all employees of HDFC.

• Read about the competitors the bank you are interviewing for. For instance, the competitors of HDFC Bank are ICICI Bank, Axis Bank, IDBI Bank, Kotak Mahindra, and much more. While reading, skim through some of the unique services and products offered by the competitors as well.

Revise and Build Your Resume

Your resume is the first point of contact for an employer in his/her search for a prospective employee. Therefore, if you an old resume, revise the information on the resume and add or delete unnecessary details from them. The resume should include professional and academic qualifications that are relevant to the job profile.

However, you must ensure that all the information that you have added to the resume is correct and you can provide valid proof of the same. While lying on the resume can get to you until the personal interview section of a recruitment session, you will not be able to clear a Personal Interview. Lying on the resume will only negatively impact your reputation as an employee and could lead to poor career development and growth opportunities.

Therefore, BE TRUTHFUL, no matter how insufficient your academic or professional background is. A truthful resume and interview session can help you crack the toughest of interviews.

Also Read: IIT-Madras launches ‘Premier Banker’ upskilling course to advocate financial literacy

What You Should Not Do During an Interview

There are several dos and don’ts that you should keep in mind while appearing in an interview. Apart from the details mentioned above, candidates should also adhere to the following dos and don’ts during an Interview:

• Do Not Be Late. Being late to an interview is one of the last things you should do in an interview. Take all steps to ensure that you at least reach on time in order to regain the strength and concentration that you may need to be calm during the interview.

• Do Not Speak Ill of Your Past Employer: It is important that you keep all negative thoughts about your previous place of employment. This will build a negative image of you as a person who is not a team player.

• Do Not Keep Your Phone on Ring or Vibrate: If you are in an interview and your phone is constantly ringing, it is considered to be disrespectful. If possible, put your phone either on “Do Not Disturb” mode or “Airplane Mode” to avoid any disturbances.

• Thank the Interviewer: While exiting an interview, be sure to thank the interviewer/s for spending the time to interviewing you. While this is an important task, it is a task and a simple courtesy which can help build a good rapport with the interviewer.

Things to do Post Interview

While preparing for an interview is important, while undertaking various activities post an interview are equally important. For instance, following up with the person with whom you communicated for the job opening is an important task as well. Here are certain steps you should take after an interview.

• Just before you leave the interview, be sure that you have asked all the questions you wish to ask the interviewers. Be sure to ask questions such as “when can I expect to hear from you again?” should be asked along with any other queries that you may have.

• After you leave, ensure that you have reverted back to the HR or the person who contacted you for the job interview. This is a simple courtesy that can go a long way in building your reputation as well.

• Follow up with Human Resources of the bank post your interview regarding your selection to the profile. As annoying and tasking it might seem, it is your right to know if you have been selected for the profile. However, ask once or twice at the most, as most companies and organisation revert back in the first email itself. Do Not Pester the company as it may also portray a negative image of you.

Therefore these are certain things that you should keep in mind while preparing for an Interview. It is important to understand that it is completely normal for one to be anxious about an interview. However, meditating before entering the interview and listening to soft music will help in calming your nerves. As cliched as it sounds, “Be You”.

Popular Bank Interview Questions

Train for some of the most common questions critical to your success in the interview. We have listed some of the questions below, along with what you can include in your answer to communicate better.

Q. Why do you want to work in the banking industry?

This is a common question in bank interviews because the answer helps the interviewer understand your motivation for choosing a career. Try to include the importance of the banking sector, its influence, and growth trends while answering.

Avoid sharing personal motivations such as salary, reputation, perks, and so on, and instead, respond with reasons and fact-based opinions.

Q. Are you familiar with both the old and new tax regimes?

Make sure you are well versed with the Union Budget of the current year as well you are aware of the significant highlights of the old and the new budget regarding the changes in the tax regime.

Q. With the banking landscape constantly evolving, what do you believe the banking sector's needs are?

This is a common bank interview question asked to assess the understanding of changing trends and needs in the banking sector.

To respond to this confidently, make sure you conduct extensive research on the current banking environment and the operational strategies employed by banks. You can also mention the evolution and impact of technology and what you believe needs improvement.

Q. Could you kindly expand on the various types of bank accounts?

Try to mention the names of different bank accounts that serve different purposes to meet the account holder's needs. Savings accounts, Current accounts, Fixed deposits, Demat accounts, and Recurring deposit accounts are some of the most common types of bank accounts.

Q. What are banks' sources of income?

You can mentiona about how banks make the bulk of their funds by lending money. All loans are made at an interest rate, which serves as a source of revenue for banks.

Banks also profit from additional fees charged on online bill payments, account maintenance, and similar services.

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Make sure you attempt to answer maximum questions confidently and be honest about a topic you might not be knowing much but are always willing to learn. We hope the above information will help you preare for interview in the Banking sector. If you need any further assistance, connect to us through the Q&A Zone. You can also contact our toll-free number for students (1800-572-9877) for any queries related to admissions.

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