Sales Promoter Interview Questions and Answers

Current account is for frequent transactions while savings account is for saving money.

• Current account is used for business or personal transactions with high frequency.

• Savings account is used for saving money and earning interest.

• Current account usually has higher fees and charges than savings account.

• Savings account has a limit on the number of withdrawals per month.

• Examples of current account include checking account, while savings account include money market account.

The function of a bank is to provide financial services to customers, including accepting deposits, lending money, and facilitating transactions.

• Accepting deposits from customers

• Lending money to customers

• Facilitating transactions between customers

• Providing financial advice and services

• Managing risk and ensuring financial stability

• Supporting economic growth and development

• Offering various types of accounts, such as savings, checking, and investment accounts

Banking products are financial instruments offered by banks to customers for managing their money and achieving their financial goals.

• Savings accounts

• Checking accounts

• Credit cards

• Personal loans

• Mortgages

• Certificates of deposit

• Investment accounts

• Retirement accounts

A financial institution that accepts deposits and channels the money into lending activities.

• Bank is a financial institution that provides various financial services to its customers.

• It accepts deposits from customers and uses that money to provide loans and credit to other customers.

• Banks also offer services such as checking and savings accounts, credit cards, and investment products.

• Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.

Bank history refers to the evolution of banking industry over time.

• Banking originated in ancient civilizations such as Mesopotamia, Greece, and Rome.

• Modern banking started in Italy during the Renaissance period.

• The first bank in the United States was the Bank of North America, established in 1781.

• The Federal Reserve System was created in 1913 to regulate the banking industry and stabilize the economy.

• The banking industry has undergone significant changes with the advent of te...read more