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State Bank of India Junior Officer Interview Questions and Answers

Updated 5 Feb 2024

Q1. What do mean of recurring deposit account?

Ans.

A recurring deposit account is a type of savings account where a fixed amount is deposited regularly for a predetermined period of time.

  • Fixed amount is deposited at regular intervals (monthly, quarterly, etc.)

  • Interest is earned on the deposited amount

  • The account has a fixed tenure

  • Withdrawal before maturity may result in penalties

  • Example: Depositing $100 every month for 5 years in a recurring deposit account

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Q2. A savings account, by defination, allowes you to deposit your money safe with the Bank.

Ans.

A savings account is a secure way to deposit money with a bank for safekeeping and potential growth through interest.

  • Savings accounts typically offer a lower interest rate compared to other types of accounts like CDs or money market accounts.

  • Funds in a savings account are easily accessible for withdrawals, but may have limitations on the number of transactions allowed per month.

  • Some savings accounts require a minimum balance to avoid fees or to earn interest.

  • Interest earned o...read more

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State Bank of India Junior Officer Interview Questions and Answers for Freshers
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Q3. What do mean by current account?

Ans.

A current account is a type of bank account that allows frequent transactions and does not limit the number of withdrawals or deposits.

  • Current accounts are typically used for day-to-day banking activities such as receiving salaries, paying bills, and making purchases.

  • They do not usually earn interest on the balance maintained in the account.

  • Overdraft facilities may be available on current accounts, allowing customers to withdraw more money than they have in their account.

  • Exam...read more

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Q4. What is the meaning of fixed account ?

Ans.

A fixed account is a type of investment account where the interest rate is fixed and does not change over time.

  • Fixed accounts typically offer a higher interest rate compared to regular savings accounts.

  • The account holder agrees to keep their money in the account for a specified period of time.

  • Withdrawals before the maturity date may result in penalties or loss of interest.

  • Common examples include fixed deposit accounts and certificates of deposit (CDs).

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Q5. What do you mean of bank?

Ans.

A bank is a financial institution that accepts deposits from the public and creates credit.

  • Banks provide various financial services such as loans, mortgages, and investment accounts.

  • They play a crucial role in the economy by facilitating the flow of money and capital.

  • Banks are regulated by government authorities to ensure stability and protect depositors' funds.

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Q6. What is the savings account?

Ans.

A savings account is a type of bank account where you can deposit money and earn interest on the balance.

  • Savings accounts typically have lower interest rates compared to other types of investments.

  • They are considered a safe and secure way to save money for short-term goals.

  • Withdrawals from savings accounts are usually limited to a certain number per month.

  • Examples of savings accounts include traditional savings accounts, high-yield savings accounts, and money market accounts.

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