Banking Loan Clerk Interview Preparation Guide
Download PDF
Add New Question

Banking Loan Clerk Frequently Asked Questions in various Banking Loan Clerk job interviews by interviewer. The set of questions are here to ensures that you offer a perfect answer posed to you. So get preparation for your new job interview

104 Banking Loan Clerk Questions and Answers:

1 :: Do you know where was the Head Quarters of Corporation Bank located?

Mangalore in karnataka state
Post Your Answer

2 :: Please explain what is commercial bank?

Commercial bank is owned by the group of individuals or by a member of Federal Reserve System. The commercial bank offer services to individuals, they are primarily concerned with receiving deposits and lending to business. Such bank earns money by imposing interest on the loan borrowed by the borrower. The money that is deposited by the customer will be used by the bank to give business loan, auto loan, mortgages and home repair loans.
Post Your Answer

3 :: Explain what is ‘Crossed Cheque’?

A crossed cheque indicates the amount should be deposited into the payees account and cannot be cashed by the bank over the counter. Two cross-lines on the left side corner of the cheque that indicates crossed cheque.
Post Your Answer

4 :: Do you know what is ‘prime rate’?

Basically, ‘prime rate’ is the rate of interest that is decided by nations (U.S.A) largest banks for their preferred customers, having a good credit score. Much ‘variable’ interest depends on the ‘prime rates’. For example, the ‘APR’ (Annual Percentage Rate) on a credit card is 10% plus prime rate, and if the prime rate is 3%, the current ‘APR’ on that credit card would be 13%.
Post Your Answer

5 :: Tell us what is the ‘cost of debt’?

When any company borrows funds, from a financial institution (bank) or other resources the interest paid on that amount is known as ‘cost of debt’.
Post Your Answer

6 :: Explain what is debt-to-Income ratio?

The debt-to-income ratio is calculated by dividing a loan applicant’s total debt payment by his gross income.
Post Your Answer

7 :: Tell us what is ‘Credit Check’?

A credit check or a credit report is done by the bank on a basis of an individual’s financial credit. It is done in order to make sure that an individual is capable enough of meeting the financial obligation for its business or any other monetary transaction. The credit check is done keeping few aspects in concern like your liabilities, assets, income etc.
Post Your Answer

8 :: Tell us what do you mean by co-maker?

A person who signs a note to guarantee the payment of the loan on behalf of the main loan applicant’s is known as co-maker or co-signer.
Post Your Answer

9 :: Tell us what are payroll cards?

Payroll cards are types of smart cards issued by banks to facilitate salary payments between employer and employees. Through payroll card, employer can load salary payments onto an employee’s smart card, and employee can withdraw the salary even though he/she doesn’t have an account in the bank.
Post Your Answer

10 :: Tell us what ‘LIBOR’ stands for?

‘LIBOR’ stands for London Inter-Bank Offered Rate. As the name suggest, it is an average interest rate offered for U.S dollar or Euro dollar deposited between groups of London banks. It is an international interest rate that follows world economic condition and used as a base rate by banks to set interest rate. LIBOR comes in 8 maturities from overnight to 12 months and in 5 different currencies. Once in a day LIBOR announces its interest rate.
Post Your Answer
Add New Question