Month: April 2019

Banking Jobs – How to Get Started in Entry Level Banking Jobs

Posted on by blogger

Banking is one of the safest professions you can hope to get into. Jobs are aplenty, plus, banking jobs always look impressive in the resume.

Banking is one of the fastest growing sectors with lots of scope for employment. While recent mergers between banks mean a lesser number of manager level jobs, entry level banking jobs keep opening up. The salary is good and if you are ready to take on the responsibilities that they come with, here is how you can get started.

Get a College Degree.

Some openings in entry level banking jobs might need specialized degrees. However, mostly a good college degree coupled with good math skills, people skills, a friendly nature and computer skills will more than suffice.

Get an Impressive Background

Make it clear that you are a worthy candidate and should be considered. For this all you need to do is have good credits, zero criminal record, a few good references and some work experience. Prior customer service and sales experiences will go a long way to earn you a brownie point.

Decide on What Kind of Bank you want to Work for.

You may choose from an option of regional banks and national banks. While national banks might have a better pay packet at the end of the month, regional banks will have a more intimate working atmosphere. So be sure to choose wisely according to your priorities.

Narrow Down your Search.

In the entry level banking jobs you can choose from opting for the position of a teller, specialized service personnel, mortgage loan representative, safe clerks, accountants, operation clerks and many more. Research on these positions and get one that you are most comfortable with. Now you can search for that particular opening.

Begin your Search.

Local newspapers, career websites all offer lucrative careers in banking jobs. Select one for yourself and send in your detailed resume.

Impress in your Interview

Once you get the call for an interview, you must tackle things very carefully as it is only a step away from your goal. Look and be as professional as you can. Wear formals, be presentable and arrive ten minutes early in the least. Be polite to the interview panel. If you have followed the previous steps, there is no reason why your interview shouldn’t be smooth. Remember to thank the panel for their time once the interview is over and shake hands before you leave.

Do not be impatient once the interview is over. These processes usually take some time. In all probability, your offer letter will be on its way soon enough.
If however, it does not, do not lose spirit. Take it as a practice, learn from it and you are sure to fare better in the next one. The idea is to not be demoralized. There are a number of bank jobs out there and more opening up every second. And you are bound to land your dream job fast.

Prospering Banking Careers With Catholic Syrian, Karnataka & Lakshmi Vilas Bank Recruitment 2013

Posted on by blogger

With financial and banking needs of people of India being established by private banks, the role of these banks in Indian economy has got itself firmly rooted. Some private banks have been fulfilling the banking requirements of people in India from nearly the last four or five decades and these have also contributed towards providing job opportunities. Having been known in the South India as the leading examples of progressive development, banks like Catholic Syrian bank, Karnataka bank and Lakshmi Vilas bank have already taken their names to great heights. Not only have they started a new era in banking since the 60s and 70s in the country, a number of people have also got employment because of these banks and have established a flourishing career for themselves. These banks are not only the pride of the country but their principles have become well recognised by the governments in the states and the centre as well as by the Reserve Bank of India. Over the years, they have brought out employment advertisements and have recruited thousands of people to provide services to the people and expand into new horizons. Today, these banks are being considered at par with the nationalised banks and enjoy the status of favoured banks by the RBI. The important thing about these banks is that they have been offering clerical and officer positions for interested students who want to prosper in the field of banking. From time to time, their recruitment advertisements have been closely followed by people and the applications have been dropped with the hope of finding employment in the respected banks. With most of the branches in south India, particularly in Kerala, the Catholic Syrian Bank offers a wide range of employment options for the people in and around the state. With Catholic Syrian Bank recruitment 2013 being suggested in the future, it will be a golden opportunity for all those aspirants who are rooting for bank jobs as their career. For them, the recruitment offer will be a chance to find a foothold in the sector and keep their footing in the way to a glorious career. Progressive growth is the feature of these banking jobs which has attracted many people and the lure to work in a bank which is having a rapid expansion in the modern day India, brings in plenty of applications, whenever the recruitment advertisements are published. Karnataka Bank recruitment 2013 will also meet a similar fate of receiving a large number of applications because people are assured of a growth in their careers after being part of this private bank which has shown resolute determination to become a leader in banking solutions. Another opportunity for the banking job aspirants is provided in the Lakshmi Vilas bank recruitment 2013, where posts of officers and clerks are on offer. Interested candidates need to submit their applications for different posts according to their eligibility, so that they can appear in the written exams and then go for the interviews for finally being recruited in these banks. It will be an achievement for these aspirants if they are able to make it to these rapidly expanding and progressing private banks of the country, a goal which is worth the time and effort.

Catholic Syrian Bank recruitment 2013, Karnataka Bank recruitment 2013, Lakshmi Vilas Bank recruitment 2013 a>

Mathematics in Banking – Compound interest

Posted on by blogger

Mathematics in Banking – Compound interest

NO banking WITHOUT Mathematics.

Many of you would have learned about Simple interest and compound interest in your middle school. Simple interest is seldom used in practice. The concept of compound interest is used in banks and many financial institutions.

Let’s begin with the definition of -interest-.

Interest is a fee paid for a loan or an amount of money borrowed from a bank or other financial institution. Banks pay interest on money deposited by customers.

There are two types of interest, simple interest and compound interest.

Simple Interest

Simple interest is the interest paid only on the original principal. Simple interest is quite easy to calculate.

The simple interest formula is I = PRT

Where

I – simple interest P – Principal or the initial amount of money that was invested or borrowed R – Rate of interest as a decimal T – Time

Compound Interest

Compound interest involves paying interest upon interest. That is, compound interest is the interest calculated on the accrued unpaid interest and on the original principal. Compound Interest is a bit more complicated than Simple Interest.

The compound interest formula is:

A = P (1 + R) ^T, if the interest is compounded once a year

A = P [1 + (R/N)] ^NT, if the interest is compounded -N’ times a year

Where

A – Amount = Principal + interest P – Principal or the initial amount of money that was invested or borrowed R – Rate of interest as a decimal T – Time

When you deposit money in the bank, always choose the account that offers you compound interest. You would make a little more money with the compound interest account than the simple interest account.

Albert Einstein, the great scientist once quoted: “Compound interest is the eighth wonder of the world. He, who understands it, earns it … he who doesn’t … pays it-.

Let’s look at a couple of examples:

Mrs. Green deposited $5000 for 5 years at 4% simple interest. Calculate the amount of interest Mrs. Green will get back at the end of 5 years.

Let’s use the simple interest formula: I = PRT

Here: P = $5000, R = 4% = 0.04, T = 5 years

I = PRT = 5000 0.04 5 = 1000

So, Mrs. Green will receive $1000 at the end of 5 years.

Mrs. Green deposited $5000 for 5 years at 4% compounded quarterly. Calculate the amount of interest Mrs. Green will get back at the end of 5 years.

There are 4 quarters in a year. So, the interest is compounded 4 times a year.

Let’s use the compound interest formula: A = P[1 + (R/N)]^NT

Here: P = $5000, R = 4% = 0.04, N = 4, T = 5 years

A = P [1 + (R/N)] ^NT = 5000[1 + (0.04/4)] ^ (45) = 5000(1 + 0.01)^20 = 5000(1.01)^20 = 6100.95

So, Mrs. Green will receive $6100.95 – $5000 = $1100.95 at the end of 5 years.

Notice that Mrs. Green makes a little more money with compound interest.

Banks and other financial institutions use compound interest to calculate how much interest to be charged on a loan amount and how much interest to be paid on money deposited by customers. The more frequent the compounding, the more money you can make. The longer you allow your money to remain in the account, the greater is the final amount you receive.

==============================================————————————————-

I’m Chandrajeet, an in-house writer for iCoachMath. iCoachMath is an effective, convenient, easy-to-use online Math Program which has been used by thousands of students, teachers, and parents. iCoachMath strives to lead K-12 students to excellence in math by offering quality web-based educational solutions. iCoachMath’s instructional and lesson materials are aligned to State Curriculum Standards in all 50 states (USA).
iCoachMath