43 Banking Interview Questions (With Sample Responses)
By Indeed Editorial Team
Updated 19 October 2022
Published 16 August 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
When you attend a banking interview, the hiring manager may ask you various questions to understand your personality and test your banking abilities. Your responses can play a major role in determining whether you get the job. The greatest approach to enhance your likelihood of performing well is to anticipate the questions ahead of time and prepare good responses. In this article, we go over what entails basic banking knowledge, how to prepare for a banking interview and what are the most common banking interview questions and some possible answers you can refer to.
Ways to prepare for a bank interview
To prepare for a banking interview, it's essential that you possess basic banking knowledge. Banking basics entail the concepts and principles that govern banking practice. Banking is essentially a business that handles credits, deposits and cash holdings, investments and retirement accounts. The most effective approach to prepare for a banking interview is to write down and rehearse responses to the questions you believe you may encounter.
Related: How To Prepare for an Interview
Banking interview questions
Discussed below are some common wealth management interview questions:
General banking interview questions
Hiring managers frequently ask a series of broad questions to gain a better idea of your personality and what type of employee you may be. You can expect questions like the following:
Tell me more about yourself.
What do you think are your biggest strengths and weaknesses?
Where do you see yourself in ten years?
How did you find out about our firm?
What is it about our job posting that attracted your interest and led you to feel that this was a role you'd be keen in?
What are your career aspirations, and how would you describe that profession?
Describe an instance in your work life where you encountered conflict. How did you handle the issue, and what was your takeaway from the experience?
What is your proudest professional accomplishment?
What are your expectations for this role if you're hired?
What is your go-to technique for coping with stressful situations?
Tell me about a time when you were compelled to make a tough decision at your previous job. What happened as a result of your decision?
Why do you want to quit your current job?
How do you like to fulfil your tasks?
Employees don't always agree with the directions issued to them. How do you react when you believe that what you're being asked to do isn't the best option?
How would present company employees describe working with you?
What are your interests apart from work?
What is your present remuneration, and what do you expect to earn if you work for our firm?
What is something you didn't fit on your resume that you believe we should know about you?
Interview questions about banking experience and background
After obtaining a sense of your personality, the recruiting manager may most likely start asking questions about your banking experience. This gives them a better understanding of how you operate in a banking position and what they may anticipate if they go forward with employing you. Some examples of questions include:
What drew you to the banking industry and prompted you to pursue a career as a banker?
Describe a moment when a bank customer was unhappy and you had to manage their problem with care. What did you do and what was the outcome?
Have you ever been in a scenario when a colleague misappropriated bank funds? What actions did you take in response to the situation?
What aspects of your bank appeal to you?
Is it more necessary for a bank employee to have good customer service abilities or good sales skills?
What banking responsibilities do you have the greatest prior experience with from previous positions?
What is your favourite aspect of your banking job?
What is your least favourite aspect of a banking job?
What, in your opinion, are the most crucial talents for a banking professional?
Do you prefer interacting with clients in person or through drive-thru banking?
In-depth banking interview questions
To be convinced and confident in choosing you as a part of their bank staff, the interviewer may like to be assured that you grasp the complexities of the industry. Inquiring more in-depth inquiries may help you to demonstrate your breadth of banking knowledge and demonstrate your ability to handle the duties of working in the role. You can expect questions such as:
How would you persuade a hesitant consumer to make us their primary bank?
What do you do if a consumer complains that they were charged a penalty they shouldn't have been charged?
What do you do if a consumer complains about a fee that was appropriately assessed?
What is the distinction between a commercial and an investment bank?
What are the different kinds of commercial banks? Which category do we fall in?
Tell me about the annual percentage rate.
What is the prime rate and how does it affect credit?
What are some common overdraft protection methods?
How important is a client's debt-to-income ratio?
Tell me about the automated clearinghouse.
Explain the distinction between a debit and a credit card.
4 banking interview questions with sample answers
These sample answers to common interview questions demonstrate how to reflect on the objective of each question and construct a convincing response:
1. What are some cautionary indicators that a client may not be a dependable loan recipient while asking for a loan?
If the position you're seeking puts you in charge of loan approval responsibilities, you may demonstrate your ability to make smart judgements with applicants. Providing loans to untrustworthy clients leads to default, which can be financially damaging to the bank. You can identify major warning signs that indicate a client is a high-risk borrower and describe how you'd manage a scenario like this.
Example: "It's critical that any loans I authorise are appropriate and fair. I always evaluate the potential client's credit card use and debt-to-income ratios on top of their payment history for late payments or defaulted debts. High usage indicates that the client may be over-leveraged and at default risk. When dealing with high-risk clients, I always choose loan solutions that are safer choices for the bank."
2. What impact has mobile banking had on the interactions between banks and customers? How has the rising use of technology impacted your banking experience?
Banks are increasingly conducting their banking operations online or through mobile apps. This lowers the bank's wage costs, but it also implies a loss of opportunities for bank staff. When providing answers, it's critical not to be combative and hostile. You can demonstrate your appreciation for the benefits of digital solutions by presenting them as methods to complement and enhance your customer service. This demonstrates your desire to operate in the new, contemporary banking system.
Example: "Clients utilising mobile applications for simple activities such as checking account balances and transferring funds has altered the average client's demands when they approach the front desk. This implies that when I speak with a client, it's more likely to assist them with an account issue that they were unable to handle using the digital app. As a result, I find my job to be more fulfilling."
3. What would you do when a customer is having difficulty comprehending the financial terms you're conveying to them?
You can discuss account choices in simpler words with typical clients who are unfamiliar with financial rules and regulations. As a banking professional, you can convert financial jargon into simple language. Leverage this question to show that you can communicate to clients in relatable ways.
Example: "Whenever I interact with a client, I always try to explain things as clearly as possible unless I'm certain they possess a higher degree of financial literacy. When this method is no longer sufficient and it's apparent that the client is not comprehending, I'll think of something fresh to enhance my relatability. When clients come in, I attempt to get to know them better so that I can base future discussions on these pointers."
4. Describe an instance you had to manage a difficult financial situation for a client with discretion.
In this role, you often come across clients who are experiencing financial difficulties. It's critical that you're competent in your profession while remaining empathetic in order to provide consumers with the best possible experience. You can show your empathy and emotional support to the client while still carrying out the necessary procedures.
Example: "I had a client who was having difficulties accessing their accounts when there was also a long queue forming behind him. While investigating the issue, I learned that the client's account had been suspended and frozen. Recognising that he was already agitated and that this may be a humiliating scenario for him, I invited him to accompany me somewhere else due to computer errors. This enabled me to discuss the matter with him discretely, sparing him any potential humiliation and resulting in a happy settlement."
The models shown are for illustration purposes only, and may require additional formatting to meet accepted standards.
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