Selection Stories
After having so many conversations, I felt it was time to talk about something related to finance. And what better place to start than the banking sector?
Suman, a friend of mine, has been working in banking for nearly four years. He’s currently a Deputy Manager at ICICI Bank in Hyderabad. I remembered that I had a bunch of questions about banking, so I reached out to him, hoping to turn his insights into a helpful blog post. Luckily, he had no choice but to say yes (perks of being friends!), and I’m grateful he took the time.
So, if you’re someone curious about banking, loans, or just how money works from the inside—this one’s for you.
Let’s dive into the conversation.
Q1) What is a CIBIL Score and How Can You Improve It?
Suman: A CIBIL score (Credit Information Bureau (India) Limited) is a three-digit number ranging from 300 to 900, summarizing your credit history. It helps lenders assess your creditworthiness before approving loans or credit cards.
Tips to Improve Your CIBIL Score:
Pay your EMIs and credit card bills on time.
Keep your credit utilization ratio low.
Avoid applying for multiple loans or cards in a short span.
Check your credit report regularly for errors.
Q2) What Should a First-Time Loan Applicant Know Before Applying for a Personal or Home Loan?
Suman: Great question! If you’re applying for a personal or home loan for the first time, here are key things to keep in mind:
Know Your Credit Score: This will influence your eligibility and interest rate.
Have a Stable Job and Income: Lenders look for repayment capacity.
Understand the Loan Type: Know the difference between personal and home loans—terms, interest rates, and repayment duration.
Prepayment and Foreclosure Terms: Understand any penalties or charges involved.
Prepare Necessary Documents: ID proof, income proof, address proof, etc., are typically required.
3) Do You Still Remember Your Job Interview at ICICI Bank? Any Advice for Someone Preparing for One?
Suman: Yes, I do. It was during the challenging Covid days, and like many, I was trying everywhere for an opportunity. Finally, I got through at ICICI Bank.
Here’s my advice for interview preparation:
Understand the Role: Read the job description thoroughly.
Know the Bank: Learn about its values, services, and recent updates.
Prepare for Common Questions:
Why do you want to work at ICICI Bank?
Tell me about a time you handled pressure or met a sales target.
What do you understand about KYC and anti-money laundering?
Explain terms like CRR, SLR, repo rate, and NPA.
How would you deal with an unhappy customer?
Group Discussion (GD):
If applying for a PO or campus placement, a GD may be part of the process. Be well-read on current affairs, especially in banking, economy, and policy.
Q4) What Was Your First Day at the Bank Like?
Suman: It was both exciting and humbling. The structured, fast-paced environment was eye-opening. I quickly learned how important attention to detail, customer service, and strict compliance are. That day taught me this job isn’t just about money—it’s about responsibility and service.
Q5) What’s the Hardest Part of Working in a Bank That Outsiders Don’t See?
Suman: The toughest part of working in a bank—often unseen—is managing compliance and risk while still achieving performance targets. It’s a constant balancing act between doing what’s right and meeting business goals.
Q6) Has Your Perception of Money Changed After Working in a Bank?
Suman: Absolutely. Working in a bank changes how you see money. A few lessons:
Money Becomes a Tool, Not a Goal:
You learn to manage, grow, and protect money—not just chase it.Financial Planning is Crucial:
You see the value of planning for emergencies, retirement, and major life goals.Risk and Responsibility:
Handling customer assets teaches how powerful and fragile financial decisions can be.Power of Compound Interest:
Early and consistent savings or investments can create long-term wealth.
Q7) What’s One Life Lesson You’ve Learned from Working in a Bank?
Suman: Trust is everything.
When handling someone’s savings, advising them, or approving a loan—you’re responsible for their future. That teaches you to be ethical, detail-oriented, and consistent. It’s not just about transactions but building long-term, credible relationships. This lesson goes beyond banking—it applies to all areas of life.
Q8) What Are the Most Common Banking Mistakes Customers Make?
Suman: Here are a few frequent ones:
Not maintaining minimum balance – leading to penalties.
Missing credit card due dates – damaging credit score and incurring interest.
Sharing OTPs or PINs – risking fraud.
Not reviewing account statements – missing errors or unauthorized charges.
Ignoring fine print – especially on loans or investments.
Keeping all savings in one place – instead of exploring FDs, RDs, or mutual funds.
Q9) If You Meet God, What Would You Say?
Suman: I’d start with a simple “thank you”—for life, opportunities, and the people around me. Then I’d ask for wisdom and strength to use what I have for good. And maybe, just a bit more patience and clarity in difficult times.
Q10) What’s a Financial Mistake You Made in Your 20s That Others Can Avoid?
Suman: Not starting to save or invest early. I believed I’d start saving once I earned more, but I now realize that even small, consistent savings—through SIPs, PPFs, or RDs—can grow significantly over time. The power of compounding needs time more than money. So, start early—even with a small amount.
Q11) Do You Think Money Brings Happiness or Just Comfort?
Suman: Money brings comfort, not happiness. It provides security, healthcare, education, and a decent standard of living. But happiness comes from relationships, purpose, and peace of mind.
That said, lack of money causes stress. So, having enough is necessary—but beyond that, how you use your money matters more than how much you have.
———–Thank You———