Bank PO Sample Interview Questions

omkumar · 23-10-2012, 12:49 PM

This is a sample set of questions to help bank PO aspirants. I guess this will be helpful for those appearing in interviews in different banks such as, Union Bank, Bank of India, Corporation Bank, Syndicate Bank after successfully qualified the IBPS test.

omkumar · 23-10-2012, 12:49 PM

What is the difference between cheque and draft?

Ans-In India, a Demand Draft is a cheque that contains an order of one branch of a bank ( Drawer branch ) directing another branch of the same bank ( Drawee branch ) to pay on demand a certain sum of money to a specified beneficiary ( Payee ) . It is an Account payee instrument, meaning it can only be credited to the account of the payee and cannot be encashed over the counter by the payee.

A Demand Draft is a much safer and certain method of payment than cheques, since in the case of cheques, an individual is the drawer and hence the cheque can be dishonoured by the drawee bank due to insufficiency of funds in the drawer's account. But since in the case of a DD, the drawer is a bank, payment is certain and it cannot be dishonoured.

A cheque (or check in American English) is a document/instrument (usually a piece of paper) that orders a payment of money from a bank account. Technically, a cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution.

omkumar · 23-10-2012, 12:49 PM

What is an ATM?

Ans- An automated teller machine or automatic teller machine (ATM), also known as a cash machine is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller.

omkumar · 23-10-2012, 12:49 PM

What is a bearer cheque?

Ans- A Bearer cheque is payable to the holder. An Order cheque is payable to the person on whose favour it is drawn or subsequent endorsees. So banks seek identification of the person receiving payment of an order cheque.

omkumar · 23-10-2012, 12:49 PM

What is a Savings Account?

Ans-A Savings bank account is the most common operating account for individuals and others for non-commercial transactions. A Savings account helps people to put through day-to-day banking transactions besides earning some return on the savings made. Banks generally put some ceilings on the total number of withdrawals permitted during specific time periods. Banks also stipulate certain minimum balance to be maintained in savings accounts. Normally a higher minimum balance is stipulated in cheque operated accounts as compared to non-cheque operated accounts. Banks as a rule do not give overdraft facility in a saving account, but allow occassional overdrawings to meet contingencies.

omkumar · 23-10-2012, 12:50 PM

What is a CURRENT ACCOUNT?

Ans-Current accounts are cheque operated accounts maintained for mainly business purposes. Unlike savings bank account no limits are fixed by banks on the number of transactions permitted in the Account. Banks generally insist on a higher minimum balance to be maintained in current account. Considering the large number of transactions in the account and volatile nature of balances maintained overnight banks generally levy certain service charges for operating a Current account.

23-10-2012, 12:49 PM	#1
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Bank PO Sample Interview Questions This is a sample set of questions to help bank PO aspirants. I guess this will be helpful for those appearing in interviews in different banks such as, Union Bank, Bank of India, Corporation Bank, Syndicate Bank after successfully qualified the IBPS test.

23-10-2012, 12:49 PM	#2
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Re: Bank PO Sample Interview Questions What is the difference between cheque and draft? Ans-In India, a Demand Draft is a cheque that contains an order of one branch of a bank ( Drawer branch ) directing another branch of the same bank ( Drawee branch ) to pay on demand a certain sum of money to a specified beneficiary ( Payee ) . It is an Account payee instrument, meaning it can only be credited to the account of the payee and cannot be encashed over the counter by the payee. A Demand Draft is a much safer and certain method of payment than cheques, since in the case of cheques, an individual is the drawer and hence the cheque can be dishonoured by the drawee bank due to insufficiency of funds in the drawer's account. But since in the case of a DD, the drawer is a bank, payment is certain and it cannot be dishonoured. A cheque (or check in American English) is a document/instrument (usually a piece of paper) that orders a payment of money from a bank account. Technically, a cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution.

23-10-2012, 12:49 PM	#3
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Re: Bank PO Sample Interview Questions What is an ATM? Ans- An automated teller machine or automatic teller machine (ATM), also known as a cash machine is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller.

23-10-2012, 12:49 PM	#4
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Re: Bank PO Sample Interview Questions What is a bearer cheque? Ans- A Bearer cheque is payable to the holder. An Order cheque is payable to the person on whose favour it is drawn or subsequent endorsees. So banks seek identification of the person receiving payment of an order cheque.

23-10-2012, 12:49 PM	#5
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Re: Bank PO Sample Interview Questions What is a Savings Account? Ans-A Savings bank account is the most common operating account for individuals and others for non-commercial transactions. A Savings account helps people to put through day-to-day banking transactions besides earning some return on the savings made. Banks generally put some ceilings on the total number of withdrawals permitted during specific time periods. Banks also stipulate certain minimum balance to be maintained in savings accounts. Normally a higher minimum balance is stipulated in cheque operated accounts as compared to non-cheque operated accounts. Banks as a rule do not give overdraft facility in a saving account, but allow occassional overdrawings to meet contingencies.

23-10-2012, 12:50 PM	#6
omkumar Diligent Member Join Date: Dec 2009 Posts: 869 Rep Power: 16	Re: Bank PO Sample Interview Questions What is a CURRENT ACCOUNT? Ans-Current accounts are cheque operated accounts maintained for mainly business purposes. Unlike savings bank account no limits are fixed by banks on the number of transactions permitted in the Account. Banks generally insist on a higher minimum balance to be maintained in current account. Considering the large number of transactions in the account and volatile nature of balances maintained overnight banks generally levy certain service charges for operating a Current account.