IBPS Clerk Salary 2024: In-hand Salary, Job Profile

IBPS clerk salary 2024 basic pay is INR 19,900. Some allowances such as HRA, dearness, special, and transport allowances are added to the basic salary. Therefore, the net salary is more than the basic.

IBPS, or Institute of Banking Personnel Selection, conducts the IBPS Clerk recruitment yearly 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 Structure 2024

The most important reasons for candidates to opt for a career in the banking field are mainly because of the salary paid to an IBPS Clerk. In India, the IBPS Clerk starting salary or basic pay is INR 19,900 with an increment of INR 1000 yearly for three years. The IBPS Clerk Salary 2024 is given below:

IBPS Clerk Salary 2024

Specifications	IBPS Clerk Salary
Basic Pay	INR 19,900
Dearness Allowance	INR 5,209.82
Special Allowance	INR 4,118
Transport Allowance	INR 757.08
House Rent Allowance(HRA)	INR 2,039.75
Gross Pay	INR 32,024.65
Deduction (NPS Fund, Union Fee)	INR 2,570.98
Net Pay	INR 29,453.67

The salary in hand overview is as follows:

Salary Increment

Years	Salary	Increment
Basic pay with three year increment	INR 19,900	INR 1,000
After three years (next three years)	INR 20,900	INR 1,230
After three years (following four years)	INR 24,590	INR 1,490
After four years (next seven years)	INR 30,550	INR 1,730
After seven years (next one year)	INR 42,600	INR 3,270
After one year (next one year)	INR 45,930	INR 1,990

IBPS Clerk Allowances

Employees also receive a travel allowance, dearness allowance, house rent allowance, special allowance, medical allowance, etc. Below are the details of IBPS Clerk allowances.

IBPS Clerk Allowances

Particulars	Details
Special Allowance	Rs 4118/-
Dearness Allowance (DA)	DA is 4 per cent of the IBPS Clerk Basic Pay. DA depends on the CPI and is revised quarterly, i.e. after every three months.
House Rent Allowance (HRA)	The HRA depends on the location of the posting. The HRA remains between 6.5% to 8.5% depending upon the location of the posting.
Travel Allowance (TA)	Expenses on official tours and travels will be reimbursed by the bank.
Medical Allowance (MA)	This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000/- annually.

IBPS Clerk Job Profile

The primary job is to maintain relevant documents like balance sheets, ledger, various other bank documents, and many more. Candidates can go through the following roles and responsibilities of IBPS Clerk:

1. To verify the documents submitted by the customers
2. The process of updating the passbooks of account holders
3. Issuing of demand drafts, cash receipts, bank accounts for the customers, etc
4. Provide the latest information on government policies
5. Solving customer queries
6. Sanctioning withdrawals made by the customers
7. Attending treasury works
8. 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 of work experience before applying 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:

1. Normal Process
2. Merit-Based Process

Normal Process

Based on the experience and seniority, IBPS Clerks are promoted. Through this process, candidates do not require a Diploma in JAIIB and CAIIB. They are required to clear a written exam conducted internally. Once the written exam is completed, they can become Trainee Officer and then Bank Probationary Officer (PO).

Merit-Based Process

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:

1. Assistant Manager (Scale 1)
2. Manager (Scale 2)
3. Senior Manager (Scale 3)
4. Chief Manager (Scale 4)
5. Assistant General Manager (Scale 5)
6. Deputy General Manager (Scale 6)
7. General Manager (Scale 7).