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Please use a genuine email ID and provide your name, to avoid rejection. A: This question would be asked to check how clear are you about the career path. These are just few questions that can be asked during an Interview ,but the list is exhaustive.
So be prepared to answer any question with confidence. There are many books available on the internet to help you prepare for bank job interviews such as. Here terms are given and their definitions are also updated soon. Please know as much as word definitions. These definitions of general banking terms for interview are very helpful to one who is preparing for bank exams and to answer the basic banking interview questions. V, Car, furniture etc.
Before opening a bank account, if it is a saving account, you have to check the interest rate on the deposit and whether the interest rate remains consistent for the period. If you have the checking account, then look for how many cheques are free to use.
Some banks may charge you for using paper cheques or ordering new cheque books. Also, check for different debit card option that is provided on opening an account and online banking features. A crossed cheque indicates the amount should be deposited into the payees account and cannot be cashed by the bank over the counter.
Here in the image, number 2, you can see two crosslines on the left side corner of the cheque that indicates crossed cheque. Overdraft protection is a service that is provided by a bank to their customer. For instance, if you are holding two accounts, saving and credit account, in the same bank. Now if one of your accounts does not have enough cash to process the cheques, or to cover the purchases. The bank will transfer money from one account to another account, which does not have cash so to prevent check return or to clear your shopping or electricity bills.
APR stands for Annual Percentage Rate, and it is a charge or interest that the bank imposes on their customers for using their services like loans, credit cards, mortgage loan etc. The interest rate or fees imposed is calculated annually. A largest banks for their preferred customers, having a good credit score. When the entire loan payment is not amortized over the life of the loan, the remaining balance is due as the final repayment to the lender.
Balloon payment can occur within an adjustable rate or fixed rate mortgage. When repayment of the loan is less than the loans accumulated interest, then negative Amortization occurs. It will increase the loan amount instead of decreasing it.
Both are used for the transfer of the amount between two accounts of same banks or different bank. Also, demand draft cannot be cancelled, while cheques can be cancelled once issued.
Adjustment credit is a short-term loan made by the Federal Reserve Bank U. S to the commercial bank to maintain reserve requirements and support short term lending, when they are short of cash. 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. It also enables receiver to access the funds quicker than a cheque or cash transfer.
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