IBPS Clerk Salary 2021 - Check the In-hand Salary, Promotions, Allowances, Salary Structure, Perks, Growth and Other Benefits of IBPS Clerk post.
IBPS or Institute of Banking Personnel Selection takes the responsibility of conducting the IBPS Clerk recruitment every year to shortlist candidates in various clerical cadre posts for public sector banks. After graduation, many candidates seek a position in the banking sector as it provides job security and attractive salary, perks, and benefits.
IBPS Clerk Salary 2021
One of the most important reasons for candidates to opt for a career in the baking field is mainly because of the salary that is paid to an IBPS Clerk. In India, the IBPS Clerk starting salary or basic pay is INR 11,765 with an increment of INR 655. The IBPS Monthly salary ranges from INR 18,000 to INR 21,000.
The pay is as follows:
|After three years (next three years)||INR 13,730||INR 815|
|After three years (following four years)||INR 16,175||INR 980|
|After four years (next seven years)||INR 20,095||INR 1,145|
|After seven years (next one year)||INR 28,110||INR 2,120|
|After one year (next one year)||INR 30,250||INR 1,310|
The In-Hand salary of an IBPS Clerk will range between INR 11,765 and INR 31,540.
The IBPS Clerk Salary Structure is given below:
|Specifications||IBPS Clerk Salary (Places with population > 45 lakhs)||IBPS Clerk Salary (Places with population < 45 lakhs)|
|Basic Pay||INR 11,765||INR 11,765|
|Dearness Allowance||INR 5,311||INR 5,311|
|Travel Allowance||INR 425||INR 425|
|Special Allowance||INR 911||INR 911|
|House Rent Allowance||INR 1,176||INR 1,058|
|Total IBPS Clerk Salary||INR 19588||INR 19470|
IBPS Clerk Allowances
Candidates also receive a travel allowance, dearness allowance, house rent allowance, special allowance, medical allowance, etc.
- Dearness Allowance: Comprises 4% of the basic pay. It depends on the CPI and is also revised every three months.
- House Rent Allowance: The HRA allowance is dependent on the location. It is 8.5% of the basic pay for the metro cities, 7.5% for cities with a population of more than five lakhs, and 6.5% for other cities.
- Travel Allowance: Official tours and travels are reimbursed.
- Medical Allowance: It is fixed at INR 2,000 for IBPS Clerks.
IBPS Clerk - Job Profile
Candidates can go through the following roles and responsibilities of IBPS Clerk:
- To verify the documents submitted by the customers
- The process of updating the passbooks of account holders
- Issuing of demand drafts, cash receipts, bank accounts for the customers, etc.
- Maintaining relevant documents like balance sheet, ledger, and various other bank documents, etc.
- Provide the latest information on government policies
- Solving customer queries.
- Sanctioning withdrawals made by the customers
- Attending treasury works
- Miscellaneous tasks
IBPS Clerk Career Growth & Promotion
Pursuing a career as an IBPS Clerk has its advantages with an attractive salary and other benefits. At the same time, candidates should also note that IBPS Clerks need to have a minimum of 2 years’ work experience before they can apply for promotions.
After the successful completion of 2 years, they can get a chance to be promoted every two years, based on the following processes:
- Normal Process
- Merit-Based Process
Based on the experience and seniority, IBPS Clerks are promoted. They are required to clear a written exam conducted internally. Through this process, candidates do not require a Diploma in JAIIB and CAIIB. Once the written exam is completed, they can carry on to become Trainee Officer and then Bank Probationary Officer (PO).
It is a must for candidates to have a diploma in JAIIB and CAIIB from the Institute of Banking and Finance.
The promotion and career growth from bank Probationary Officer are as follows:
- Assistant Manager - Scale1
- Manager - Scale 2
- Senior Manager - Scale 3
- Chief Manager - Scale 4
- Assistant General Manager - Scale 5
- Deputy General Manager - Scale 6
- General Manager - Scale 7
FAQs on IBPS Clerk Salary
- How much is the In-hand salary of IBPS Clerk?
The in-hand salary of an IBPS Clerk varies between INR 19000 and INR 22000.
- How much is the basic pay for an IBPS Clerk?
The basic pay for an IBPS Clerk is INR 11,765.
- How much is the gross salary of IBPS Clerk?
The IBPS Clerk gross salary is INR 23115
- What are the allowances given along with the IBPS Clerk Salary?
Below are the additional allowances that are given to an employee along with the IBPS Clerk Salary:
- Dearness Allowance
- House Rent Allowance
- Medical Allowance
- Travel Allowance
- Special Allowance
- Transport Allowance