Bank Interview Questions and Answers for Customer Service

Interview Questions for Bank Operations Officer:

There is a list of the top frequently asked Bank Interview Questions and Answers is given below.

1. How many types of accounts are in Banks?

Ans – There are mainly six types of accounts in the Bank. These are:
1. Current account

2. Savings account

3. Salary account

4. Fixed-deposit account

5. Recurring deposit account

6. NRI accounts

2. How many different ways you can operate your accounts?

Ans – i. Branch banking

ii. ATM ( Automated Teller Machine)

iii. Mobile banking

iv. NetBanking

3. What is APR?

Ans – It stands for Annual Percentage Rate. APR is a charge or interest that the bank imposes on their customers for using their services like loans, credit cards, mortgage loans, etc.

4. Define ‘Fixed’ APR and ‘Variable’ APR.

Ans – Fixed APR: In Fixed APR, the interest rate remains the same throughout the term of any loan or mortgage.

Variable APR: In Variable APR, the interest rate will change without notice. It is based on other factors like a prime rate.

5. How many types of banking software are available in the Industry?

Ans – i. Oracle FLEXCUBE
ii. Finastra
iii. Temenos
iv. EBANQ
v. BankWare

6. What is Crossed Cheque?

Ans – Crossed Cheque indicates that the amount should be deposited into the payee’s account but it can’t be cashed by the bank over the counter.

7. What is overdraft protection?

Ans – It is a service that a bank provides to their customer. For instance, if you are holding two accounts such as a savings and credit account in the same bank. Now, if one of your accounts doesn’t have enough cash to process the cheques. The bank will transfer money from one account to another account, which says overdraft protection.

8. What are the main functions of the Reserve Bank of India?

Ans – Functions of the Reserve Bank of India:
1. RBI is responsible for the issue and exchange of currency in notes and coins.
2. RBI manages foreign exchange to facilitate external trade and development.
3. Central bank to all other banks, RBI maintains records of all banking accounts.
4. RBI acts as the banker to central and state governments.
5. Reserve Bank of India supports national banking and financial objectives.
6. RBI also maintains economic stability across all sectors to enable growth.

9. Difference between Cheque and a Demand draft?

Ans – 1. A cheque is a written document that contains an order to the bank, to pay a certain sum of money to a specified person.
A demand Draft is a negotiable document issued by the bank in favour of a certain person or entity, to transfer money from one place to another.
2. A cheque is issued by a customer of the bank.
A demand Draft is issued by a bank.

10. What is a cashier’s cheque?

Ans – The cashier cheque is issued by the bank on behalf of the customer and takes the guarantee for the payment. The payment is done from the bank’s funds and signed by the cashier.

11. How many types of loans are offered by banks?

Ans – There are mainly 8 types of loans are offered by banks, These are:
i. Personal Loans
ii. Home Loans
iii. Car Loans
iv. Credit Card Loans
v. Home Loans
vi. Education Loans
vii. Payday Loans
viii. Agriculture Loans

12. Define Credit Check.

Ans – A credit Check or Credit Score is done by the bank on a basis of an individual’s financial credit.

13. How many types of Fixed Deposits?

Ans – There are basically six types of fixed deposits are available in most of the Bank:

1. Bank Fixed Deposits

2. Senior citizen fixed deposits

3. NRI Fixed Deposits

4. Standard/Regular fixed deposits

5. Tax-saving fixed deposits

6. Corporate Fixed Deposits

14. What is a payroll card?

Ans – It is a type of smart card issued by banks to facilitate salary payments between employers and employees.

15. How a bank earns a profit?

Ans – i. Accepting deposit

ii. Interest Spread

iii. Banking Value chain

iv. Providing funds to borrowers on interest

v. Additional charges on services like Account maintenance, ATM transaction, etc.

Customer Service Interview Questions and Answers:

1. What is Customer Service?

Ans – Customer service is the job of a customer service agent to build a positive relationship with the customer. It involves being a kind, courteous, and professional face for the company. It also involves listening carefully to customer wants and concerns.

2. Why do you want to work in customer service?

Ans – I find great satisfaction in being able to find the perfect outfit for a customer. I know that I would do well when helping customers with any questions they might have.

3. What skills should a great customer service representative have?

Ans – i. Strong communication
ii. Positivity and Problem-solving
iii. Clear listening

4. What role does empathy play in customer service?

Ans – i. Answering the customer’s phone call
ii. Resolving the customer’s problem or issue
iii. Providing the customers with relevant suggestions.
iv. Encourages the customers to take the right decision.
v. Dealing with mismanaged payments

5. Tell me about a time you had to deal with a difficult customer, and how do you handle it?

Ans – Every customer service support representative faces the issue of the difficulty or angry customers. You should say that “I will remain calm and provide as high a level of service as possible.”

6. Difference between good and great customer service.

Ans – Good customer service will get the problem solved eventually.
Great customer service will get it resolved immediately

7. What is “Customer Satisfaction”?

Ans – Every business depends upon the quality of service offered to the customer. So, for that, you should have a clear understanding of the customer’s requirements and their problems or issues that is called Customer Satisfaction.

8. What are Customer service tools that you know?

Ans – Phone, Email, Live chat applications such as Skype, Zoom, etc. CRM tools, Social media

9. What do you do in a situation when you don’t know the answer to a question?

Ans – In this situation, Honesty is the main key to resolve. If you don’t know the answer to a question, Then you should say, “Sorry, I don’t know but give me some time, I will better assist you.

10. Why should we hire you for this position?

Ans – According to your job requirements, you need someone with exceptional customer service skills who can’t afraid to handle conflict. To summarize, I have five years of customer service experience and I also practice conflict resolution daily. So, I’m the best fit for this job position.