There has been a considerable amount of growth in the Banking Sector which has increased its demand as a career choice. There have been many cases in which individuals are leaving their jobs and getting into the banking field. One of the major reasons behind this is that banks offer much more facilites in terms of additional perks and job security. Similarly, banks offer a wide variety of jobs which are open to candidates from all academic backgrounds. Posts of po and clerks are high in demand, because of the good job profiles that these posts hold. They provide a steady income with flexible workign hours which makes them highly coveted. Therefore, difficult exams are conducted to recruit candidates for these two posts, as these posts demand high responsibilty, only the best out of the many is chosen.
There is various type of clerks which perform various functions in a Bank. They work behind the scenes but carry out the main functions in a it.
There are new account clerks, who deal with opening new accounts for customers and even closing them, exchange clerks who handle international bank accounts, statement clerks who prepare the monthly balance sheet etc.
There are also clerks who take care of the general affairs in this.
However, all these various type of clerks have to give the same exam which is conducted by the respective branch.
Their recruitment is a careful process which is taken care of, under the guidance of the highest officials of this
Bank Probationary Officers are popularly known as bank po.
The name is given because of the probationary period they have to serve after teh final recruitment. It is only after this probationary period that they can serve the respective bank with proper work assigned to them.
The probation period consists of two years. In these years, they are given various assignments, based on their performance in these assignments, they are chosen for the further work.
Institute of Banking Personnel, a recruiter for various posts in banks, have introduced a new format in conducting bank banks, for 19 public sector banks who have volunteered to participate.
It is called the Common written examination to be conducted in 2011, which would recruit candidates for the post of bank po in the 19 public sector banks.
Bank PO and Bank Clerk are two important posts offered by the banks but also the toughest posts to achieve. One has to study very hard to get recruited in these posts and live a luxurious life.
Start by gathering the following information, make copies and file them in a pocket folder. In certain cases it may be necessary to scan and save documents with password protection just in case lenders request for emailed copies. Faxing documents is safer than emailing. You may also share the documents using cloud providers such as Dropbox, Google or Microsoft’s OneDrive. These are fairly safe methods of providing access to documents online.
1. Financial Information
€ 3 years most recent business tax returns and/or audited financial statements
€ 3 years most recent personal tax returns
€ Personal financial statement
€ Year to date revenue statement
€ 2 years financial projections taking into accounts the proposed borrowing
€ 2 years monthly cash flow projections
€ Accounts receivable and accounts payable aging lists
€ At least 3 years most recent bank statements
€ Business history and challenges, ownership and affiliations
€ Short personal resume
2. Credit bureau report
Check your credit report to ensure there no damaging remarks
3. Licenses and permits
Ensure that your licenses and permits are current
Most lenders will require collateral for loans. Having narrowed down your loan needs, you should line up the collateral that you will pledge to secure your borrowing, Different loans require different collateral. For example, a long term loan is secured by long-term assets such as land, real estate or machinery while short-term loans are secured by short term assets such as equipment and current assets. If your collateral is real estate or large machinery, you will be required to have the property or machinery appraised by a bank’s approved appraiser if the loan is approved. A clean environmental impact report will also be required by bank prior to closing
Pre-qualify yourself by analyzing your financial statements to ensure you have the capacity to borrow and repay the proposed loan. Think through the risks associated with the loan from the lender’s perspective and be ready to provide convincing mitigation and o secure the loan appropriately. This process can be daunting and may require help of an experienced loan packager.
6. Choose a lender
There are numerous lenders out there. If you are financially strong, you should link up with a conventional lender in your neighborhood. They know and understand the community well. But if you exhibit some financial weaknesses or are in need of fast cash, go for private money lenders. They are fast and easy to deal with. The process of loan-shopping can be time-consuming. You may want to seek help from a seasoned professional to place the loan for you.