Wednesday, December 19, 2018
How to improve my credit score
Your credit score influences your ability to get loan from Lenders. Your past financial goof ups will bring down your credit score. Transunion, Equifax, Experian are the major credit reporting agencies. Lenders pay these agencies to get the customer’s credit report. They use FICO score and its between 300 and 850. Higher the better. 5 top factors that affect credit score are Payment history, Length of credit history, New credit and credit mix. 800-850 consider to be excellent. 740-799 consider to be Very Good. 670-739 is good, 580-669 is not good and below 580 considered to be poor. If you credit score is bad, you may not get the loan or you may end up paying a high interest rate or unfavorable terms and conditions.
Here are few things to improve your credit score.
Pay your bill on time. If you miss this multiple time in an year, your credit score will be significantly impacted. Even if you pay that later, it will help to improve your credit score. Incase you missed the due date by a day or two, call up your banker and request them to remove from the report. They may not be able to do it, but worth trying.
Keep your balance low. Total balance should not exceed 25 or 30 percent of your credit limit at any given time. For instance, if your credit card has a credit limit of $1000, use only $250 or 300.Try to clear the payment before due date and make it zero.
Pay your balances in Full. Don’t just make the minimum due.
Don’t move your debt around. Don’t try to be smart by clearing one credit by taking from another. It will not help to increase your score.
Make sure you check your credit score atleast once a year. Report the reporting agencies if any discrepancy.
There is no magic to improve your credit score in a day or two.
What is credit score
Credit score is the most important financial information about an individual in United States. When you apply for a new Credit Card, Mortgage loan and Car Loan the lender will check your credit score determine financial behavior. Transunion, Equifax, Experian are the major credit reporting agencies. Lenders pay these agencies to get the customer’s credit report. They use FICO score and its between 300 and 850. Higher the better. 5 top factors that affect credit score are Payment history, Length of credit history, New credit and credit mix. 800-850 consider to be excellent. 740-799 consider to be Very Good. 670-739 is good, 580-669 is not good and below 580 considered to be poor.
What is credit limit and Credit Line or Line of Credit
It indicates the maximum limit of credit that a bank or other lender gives to a customer.
Friday, December 26, 2014
Wednesday, December 24, 2014
For More interview questions and latest updates...
For More interview questions and latest updates, Visit ...
www.ibps-india.com
Tuesday, January 15, 2013
RBI Rates (Repo , reverse repo, CRR, SLR etc)
Always check the RBI website before the interview for latest rates.
http://www.rbi.org.in
On the right side of the main page, you'll see current rates.
Keep the mouse cursor to see the rates under each category
http://www.rbi.org.in
On the right side of the main page, you'll see current rates.
Keep the mouse cursor to see the rates under each category
Tuesday, December 11, 2012
UCO Bank PO interview
Generally in interview Panel you'll have one representative from Bank, another one from different bank and you you'll have some one from Government sector companies (May be a college professor, Manager of some government organization etc). Panel may habe 3-4 members.
The questins may not be related to banking always. From my analysis, they ask one or two questions related to banking. Something like what's SLR, current repo rate, current account etc. It may not be a difficult question. They may also ask if you have a bank account, what kind of account is that, do you have debit card, master or visa, what is master or visa etc. How much is the maximum withdrawal from an ATM on a single day, what would be the chanrge if you withdraw from a different bank ATM etc.
Most of the other questions would be wiered at times. Interviewers may not expect you to give a correct answer, but they wanted to know how you tackle the question. For instance what is the name of species that sucks blood. Nobody can remember the name Hematophagy. If you do know well and and good. If you do not know, I feel you should not just answer I do not know. If you do that for one question, you are most likely end up in answering "i don't know " for most of the questions. You may answer like blood sucking animal genrellay termed as vampire animals, in collocial language it's called as bllod suckers (I do not know :-) or something like that, keep a smile on your face and you should look very pleasant even if the intervieweres are rude.
In another case, the question was why all the rivers are flowing from north to south. I don't know if that's true , but most of the rivers seem to be flowing from south to north. Nobody will have a clean answer for this question, but you can give some logical answers like magnetic pole or himalaya is on north etc etc.. They don't really care if you know the right answer, but they will check the way you answer and tackle the situation.
Women employees and especially married women can definitely expect question related to transfer and other challenges. You have to give some convoncinfg answer. It can be something like "we have brave women officers in indian army protecting our country from intruders. Army officer job is more life threatening and life challenging than a banking job. If a women can do that why not in bank". You can also mention that " you applied for this position after understanding all these challenges. There are challenges in every job and you have encounter the situation as and when it comes. I do have some plans now on how I'm going to manage for the next few years as I have my parrents ready to live with me. In future if this is not an option, I'll find alternatives". If you have woman interviewer in the panel, you can keep a smile on your face and say that "We have woman officers like you in the bank. They might have gone through the situation that I have to go through, I'll certainly get some advice from you once I join". You can also talk about woman empowerment etc.
There was also question about cabinet reshuffle. New minsters, names of minsters belonging to your state etc. FDI in retail, Kejriwal's new party etc also was some questions. There may be polotical questions as well, try to be diplomatic as much as you can. Try not to name political party or individual leaders with name. Instead use ruling party, opposition, opposition leader, speaker etc. Be careful when it comes to religious topics. These are sensitive areas, careful in answering. For instance if someone ask you "do you think Modi is a right candidate for PM ". Depending on your answer, they'll get into the riots Gujrat etc. You have to control the questions by giving the close ended answer. I wpould answer something like "In a democratic country like india people of the country will decide if he's a right candidate for PM". "It's his party who needs to analyse his performnace and decide if he's the right person for PM". I as an idnvidual will cast my vote based on my analysis and political ideology. About the incident of riots, you can mention "any act violence is condemnable. Whoever did the crime will be booked and punished as per the indian legal system. It's the investigation agency who needs to investigate of any individuals involvement and finally it's the hon. supreme court give the verdict". "as this matter is still in the court and being investigated I do not want to comment"
The questins may not be related to banking always. From my analysis, they ask one or two questions related to banking. Something like what's SLR, current repo rate, current account etc. It may not be a difficult question. They may also ask if you have a bank account, what kind of account is that, do you have debit card, master or visa, what is master or visa etc. How much is the maximum withdrawal from an ATM on a single day, what would be the chanrge if you withdraw from a different bank ATM etc.
Most of the other questions would be wiered at times. Interviewers may not expect you to give a correct answer, but they wanted to know how you tackle the question. For instance what is the name of species that sucks blood. Nobody can remember the name Hematophagy. If you do know well and and good. If you do not know, I feel you should not just answer I do not know. If you do that for one question, you are most likely end up in answering "i don't know " for most of the questions. You may answer like blood sucking animal genrellay termed as vampire animals, in collocial language it's called as bllod suckers (I do not know :-) or something like that, keep a smile on your face and you should look very pleasant even if the intervieweres are rude.
In another case, the question was why all the rivers are flowing from north to south. I don't know if that's true , but most of the rivers seem to be flowing from south to north. Nobody will have a clean answer for this question, but you can give some logical answers like magnetic pole or himalaya is on north etc etc.. They don't really care if you know the right answer, but they will check the way you answer and tackle the situation.
Women employees and especially married women can definitely expect question related to transfer and other challenges. You have to give some convoncinfg answer. It can be something like "we have brave women officers in indian army protecting our country from intruders. Army officer job is more life threatening and life challenging than a banking job. If a women can do that why not in bank". You can also mention that " you applied for this position after understanding all these challenges. There are challenges in every job and you have encounter the situation as and when it comes. I do have some plans now on how I'm going to manage for the next few years as I have my parrents ready to live with me. In future if this is not an option, I'll find alternatives". If you have woman interviewer in the panel, you can keep a smile on your face and say that "We have woman officers like you in the bank. They might have gone through the situation that I have to go through, I'll certainly get some advice from you once I join". You can also talk about woman empowerment etc.
There was also question about cabinet reshuffle. New minsters, names of minsters belonging to your state etc. FDI in retail, Kejriwal's new party etc also was some questions. There may be polotical questions as well, try to be diplomatic as much as you can. Try not to name political party or individual leaders with name. Instead use ruling party, opposition, opposition leader, speaker etc. Be careful when it comes to religious topics. These are sensitive areas, careful in answering. For instance if someone ask you "do you think Modi is a right candidate for PM ". Depending on your answer, they'll get into the riots Gujrat etc. You have to control the questions by giving the close ended answer. I wpould answer something like "In a democratic country like india people of the country will decide if he's a right candidate for PM". "It's his party who needs to analyse his performnace and decide if he's the right person for PM". I as an idnvidual will cast my vote based on my analysis and political ideology. About the incident of riots, you can mention "any act violence is condemnable. Whoever did the crime will be booked and punished as per the indian legal system. It's the investigation agency who needs to investigate of any individuals involvement and finally it's the hon. supreme court give the verdict". "as this matter is still in the court and being investigated I do not want to comment"
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