Private bank position: You can have a thriving career in banking with competitive pay and a pool of opportunities, be it the bank run by the government or a private bank. The jobs in these banks are for aspirants who are interested in working and contributing to the financial industry.
However, if you want to crack the private bank position on the first attempt or to get placed in the best bank that pays a hefty amount as a salary, you must take the BFSI bank course from Physics Wallah. There are a lot of videos and live classes that guide you and prepare you for the private bank exams with video assignments and quizzes. The BFSI course offers a 53% discount and certification after successful completion of the test. This 3 months certification program covers various areas, including Core banking, Soft skills training & Interview preparation. It also comes with placement assistance to help you kickstart your private banking career.
What is a Private Bank Position?
A private bank position offers stellar financial services and products to customers. The customer, whether non wealthy or wealthy, can open their accounts and have cash flow in it. Mostly the high network individuals have a lot of liquid financial assets that they can convert into cash with ease.Â
They choose private banks to manage their wealth, make investments and manage their investment portfolio.
Top Jobs in Private Banks
How to get a job in a private bank after 12th?Â
Here are the top 10 private bank positions that you come across. You can apply for these positions if they match your experience and salary requirements.Â
Personal Banker
Every private bank will have this Private bank position for its clients. In case of any issues with their accounts, they can get in touch with the personal banker to get them resolved sooner.Â
They also help in obtaining credit cards or loans. They also guide the new customers to learn about the new services offered by banks, assist in managing their existing accounts and open new accounts seamlessly. They also quickly respond to any queries that the client has and resolve the issues directly or send them to customer support.
This Private bank position directly communicates with the customers and explains about the financial products and services. They convince the customers to get into investment or invest in any of the mutual fund plans offered. They also perform administrative tasks like updating the banking software.Â
Also Read: Top 10 Best Private Banks in India List 2024
Customer Support Representative
This Private bank position will be customer-facing and manage phone transactions performed by the customers. They also help customers in doing online transactions safely and securely. They answer all kinds of questions related to accounts and keep a close watch on daily transactions done.Â
How to get a job in a private bank after 12th? This is perfect for you. As part of the role, the customer support representatives open bank accounts for customers and loan accounts based on the request. They interact with customers to understand their needs and resolve their issues from time to time. They check the internal policies and procedural changes and stay up-to-date to guide customers in the right direction.
Compliance Officer
Compliance offers to play a major role wherein they do the due diligence of clients before allowing them to open an account in the bank. These officers help clients check whether the income they are submitting to the bank is correct or not.Â
They make sure that no assets are being hidden from authorities and that every income they earn is ethical.Â
They also stay compliant with international laws. Apart from this, bank employees also follow anti-money laundering practices and stay updated with those new practices. They also review the accounts from time to time to check if there is any suspicious activity.Â
Relationship Manager
The relationship manager talks to the clients directly and understands their requirements frequently. They make sure that the client is happy with the service offered by the bank. They interact with other banking professionals to help them manage client accounts, check banking policies, and research the latest trends in the financial world to give valuable advice to clients on investments.Â
They also find new clients, set up meetings with them and convince them to make investments in their company by making some investment plans. This Private bank position also connects with bank managers to address the issues of clients when there is any policy change.Â
Banking Associate
The Private bank position is to deposit the checks to the respective client accounts from different branches. They also offer helping hands to the banking professionals. They also perform scans of physical cheques, create recipes and take all the requests related to the deposit of cheques.Â
They thoroughly review the cheque and then deposit or reject the cheque using the banking software.
Thinking of How to get a job in a private bank after 12th? You can reach the goal of cracking a bank job faster by joining the BFSI course by PhysicsWallah. After the course completion, you start attending the interviews. The first role you may join is as a banking associate where you get to learn how to open an account, deal with customers, investment options, and other key areas in the banking sector.Â
Individuals with this role correct the transactions required for the client accounts. They also perform testing of deposit systems to ensure that they are functional as expected. In addition, they also help in bringing up a new deposit system in place to process checks quickly. They adhere to policies related to deposit processing.Â
Investment Consultant
They work closely with the relationship managers to maintain good relationships with private clients. The best thing is that they provide valuable advice to clients on how to invest and accumulate assets.Â
They meet clients and understand their financial goals. Based on the goals, the investment plans are suggested to invest and get high returns. This Private bank position advises clients based on how much they are willing to invest in equities, bonds, commodities and so on. They also analyze the risks involved and let the clients know about them.Â
Private Banker
The private bankers get to meet the clients directly to learn their financial goals. They set up meetings with experienced investment professionals to customize the investment plan as per their budget. Once the strategy is decided, the Private bank position finds the investment and securities product.Â
They also manage the investment portfolio of clients. Also, they offer investment advice, manage deposits, and sell insurance products. They also process the loan application. Furthermore, the private banker also helps with managing taxes and trust funds.Â
Investment Analyst
The job of an investment analyst is to gather information and thoroughly analyze the assets that the client holds such as bonds, stocks, and commodities. They check the net worth of the client and work for them.Â
They do the analysis and present their research to portfolio managers. Based on this, the managers recommend the best investment options to the clients who have good net worth.Â
They also check the market trends before finalizing the investment strategies. They check the legal documents, reports and previous strategies followed during investment to tell whether their current decision is right or not.Â
Also Read: Is banking a good career option?
Portfolio Manager
The portfolio manager is the one who creates and manages investments for different clients. They show the right investment options based on how much risk the client is willing to take, how much he or she is willing to invest and time preferences. They maintain good relationships with clients and tell them about new investments and how the market conditions are. They also meet clients regularly to give them updates about the market and update about how much wealth they allocated through investments.
Private Bank Position and Salaries
The following table lists the Private bank positions available in private banks with their salaries. If you want to know How to get a job in a private bank after 12th, you can check out which job qualifications you meet.
| Private Bank Position & Salary | ||
| S.No | Job role | Salary per annum |
| 1. | Personal banker | 14.9 Lakhs |
| 2. | Banking associate | ₹6.5 Lakhs |
| 3. | Customer support representative | ₹3.2 Lakhs |
| 4. | Compliance officer | ₹7.1 Lakhs |
| 5 | Relationship manager | ₹5.6 Lakhs |
| 6 | Investment consultant | ₹8.4 Lakhs |
| 7. | Private banker | 13.7 Lakhs |
| 8. | Investment analyst | ₹ 9.3 Lakhs |
| 9. | Portfolio manager | ₹16.9 Lakhs |
Above mentioned salary package may vary based on industry standards.Â
Also Read: What are Relationship Manager Roles and Responsibilities?
Private Job Vacancies
How to get a job in a private bank after 12th? The private sector banks have a lot of openings and are inviting applications from young graduates to apply for different roles in banking and financial services. The best thing is that these banks do not charge any fee for recruitment.Â
The private banks are playing a crucial role in increasing the joint stock of banks in India. The private banks are divided into two parts, one is old and the other is new. The 32 private banks have 24 old banks since these were established before 1993-94 and eight are categorized into new banks.Â
The following table displays the bank name, Private bank position available and a link to direct you to the career page link where you have to apply for the post. However, the positions are subject to change based on demand. You have to keep checking the career page for the latest job openings.
| Bank name, Positions in the bank, and their Career page | |||
| S.No | Bank name | Open positions | Link to careers page |
| 1. | Federal bank | Officer, associates | https://fedregister.zappyhire.com/start/1829/cl/ad |
| 2. | Karur Vysya bank | Relationship manager, banking apprentice, business development manager | https://www.karurvysyabank.co.in/Careers/kvb_Careers.asp |
| 3. | South Indian Bank | Probationary clerk, National head | https://recruit.southindianbank.com/RDC/ |
| 4. | Tamilnad Mercantile bank | Retired officers | https://www.tmbnet.in/tmb_careers/newregisterbase.do?id=DMI&post=DMI20232401 |
| 5. | City Union Bank Limited | Assistant general manager, regional development manager, branch managers, assistant managers and relationship managers | https://www.cityunionbank.com/Careers |
| 6. | HDFC bank | Personal banker (sales) | https://futurebankers.myamcat.com/Â |
| 7. | ICICI bank | Various officers and managers | https://www.icicicareers.com/Website/default.aspx |
| 8. | City Union Bank | Deputy general manager, assistant general manager | https://www.cityunionbank.com/Careers |
| 9 | Yes bank | Bank professionals | https://www.yesbank.in/work-with-us/career-opportunities |
| 10. | Axis bank | Various banking jobs | https://www.axisbank.com/careers |
| 11. | Kotak Mahindra bank | Officers and professionals | https://www.kotak.com/en/about-us/careers.html |
| 12. | IDBI bank | Specialist officers, managers, and clerk | https://www.idbibank.in/idbi-bank-careers-current-openings.aspx |
Excited About Building a Career in BFSI or Banking sector?
The banking sector is growing swiftly in India. Many private banks are creating good opportunities for young and experienced professionals who are interested in working in banks. You can complete the course after completing the graduation in any field.
However, if you lack banking knowledge and want to get into a banking job, then it is a must to undergo bank coaching. However, there are online BFSI course available at Physics Wallah. The course curriculum covers in-depth about retail banking, banking operations, mutual fund investments, and corporate banking operations. After course completion, you also receive a certificate that is valuable to stand out from other candidates. The course prepares you for the interview through mock interviews, regular assignments, and quizzes. Taking this course also offers you job assistance.
Enroll for the bank course at Physics Wallah without delay to take a first step and get closer towards cracking bank jobs.
Private Bank Position FAQs
What is the best way to apply for a Private bank position?
You can check the career pages of the bank, professional social media sites, job sites, newspaper ads and other channels from time to time to get the current and latest job details. They show the eligibility criteria, qualifications and other details and how to apply whether offline or online clearly.
Which private banks are best to apply for?
All the private banks operate as per the RBI rules. The RBI monitors all banks and the top banks to which you can apply for jobs are HDFC Bank, Federal Bank, IndusInd bank, Axis Bank and ICICI Bank.
How to get a job in a private bank after 12th?
Private banks such as HDFC, ICICI, Axis, Yes Bank and other private banks are offering equal opportunity for fresh and experienced people after completing BFSI course. The course prepares you to attempt most of the questions asked in the online exam followed by a personal interview.
Do private banking jobs let you flourish in a banking career?
Of course, yes. The salaries offered to employees in private banks are not as great as government banks. However, with good banking knowledge, interpersonal skills, soft skills and problem-solving abilities, they can grow in their career.
What are the new private banks that have come to India?
Various banks in India that are started newly are Axis, Development credit bank, ICICI Bank, Kotak Mahindra bank, Balaji Corporation bank limited, Indusind Bank, Kotak Mahindra Bank and HDFC Bank.
