What is the IBPS clerk's salary?
IBPS Clerk Salary Structure 2021: Hello candidates, welcome to our website Freshjoblive.com. Thank you for your excellent response to our post. We are always happy to assist you. Let’s now discuss the IBPS Clerk's salary. You IBPS clerks are one of the most popular posts which is an entry-level position in the banking sector. Most of the candidates want to know the salary of the IBPS clerks. So we decided to share information about IBPS Clerk Salary Structure.
The Institute of Banking Personnel Selection (IBPS)
is one of the banking exam conducting organizations. IBPS conducts a Banking
recruitment exam annually every year for the Clerk exam. The clerk Post is an entry-level position in the banking sector. There is the most curiosity among the Banking
aspirant candidates about to know salary structures and allowances.
Let’s discuss in this article
more about an IBPS Clerk Job, including Salary In hand, Pay Scale, Allowances,
Job Profile & Promotions. Read on to find all the information.
The salary of IBPS Clerk is one of the
important reasons for the candidates opting for a career in the banking sector.
The banking sector in India is developing rapidly. IBPS Clerk is one of the
most popular posts among banking aspirants.
The basic salary of IBPS Clerk in
India is Rs 11765/-. (DA, HRA, Travel Extra. In this article, we bring to you
the details about IBPS Clerk Salary, Pay Scale, Benefits, and career growth prospects.
Institute of Banking Personnel
Selection is the conducting body for the Clerical Cadre Examination. Every year
lakhs of candidates apply for the IBPS Clerk exam but only a handful is able to
qualify. One of the primary reasons for the attractiveness of the candidates
for this position is the salary paid to them.
Further, we will throw some light
on IBPS Clerk Salary Structure in India along with information related to Basic
Pay, Perks, and other perks.
IBPS clerk salary in India
The salary of an IBPS Clerk in India
increases gradually as an employee continues to work and gets promoted in the course of his/her job.
As per the IBPS Clerk
Notification 2020, the pay scale of Clerk in IBPS is
11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310.
-1-31540.
Hence, the in-hand salary of an
IBPS Clerk can range between Rs.11,765/- and Rs.31,540/-.
The basic details of the
distribution of allowances in the salary structure along with the IBPS Clerk
Salary in India is discussed below. Candidates can check the current pay scale
for IBPS Clerk as given below:
 |
| IBPS Clerk Salary 2021 |
What is the salary of the IBPS RRB clerk?
As per the analysis of IBPS Clerk salary
structure, we get conclude IBPS RRB clerk salary structure also the same as IBPS
clerk salary. Let us discuss the detailed salary structure of the Banking Clerk.
IBPS Clerk Salary 2021: Pay Scale
The sum of Basic Pay and
allowances makes up the total IBPS Clerk Salary. The first Basic Pay for IBPS The clerk is Rs 11,765.
IBPS Clerk Payscale is
11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.
Bank clerk salary after 5 years
This implies that the minimum
Basic Pay for IBPS Clerk is Rs 11,765 while the maximum is Rs 31540.
Basic Pay | Amount |
Initial Basic Pay | Rs 11,765, with a yearly increment of Rs 655 for three years |
Basic Pay after 3 years | Rs 13730, with a yearly increment of Rs 815 for the next three years |
Basic Pay after the next 3 years | Rs 16175, with a yearly increment of Rs 980 for the next four years |
Basic Pay after the next 4 years | Rs 20095, with a yearly increment of Rs 1145 for the next 7 years |
Basic Pay after the next 7 years | Rs 28110, with a yearly increment of Rs 2120 for the next year |
Basic Pay after the next 1 year | Rs 30230, with a yearly increment of Rs 1310 for the next year |
Basic Pay after next year | Rs 31540 (maximum Basic Pay) |
IBPS Clerk Salary 2021: IBPS clerk salary in hand Allowances
IBPS Clerk Salary Allowances
are very attractive. There are different allowances provided. These allowances
also, depending on the location of posting and a few other factors.
The
types of allowances of IBPS Clerk Salary are listed below:
Special Allowance Rs 1561
Dearness Allowance (DA)
DA is 4 percent of the IBPS
Clerk Basic Pay.
DA depends on the CPI and is
revised quarterly, i.e. after every three months.
The starting DA would be Rs
7073
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 Expenses on official tours and
travels will be reimbursed by the bank.
Medical Allowance This is paid once a year. For IBPS
Clerks, the amount is fixed at Rs 2000 annually.
The differences of IBPS Salary and Allowances as per the location:
IBPS Clerk Salary Structure – Divisions | Population More Than 45 lakhs | Population Less Than 45 |
Basic Pay | Rs 11765 | Rs 11765 |
Dearness Allowance | Rs 5311 | Rs 5311 |
Travel Allowance | Rs 425 | Rs 425 |
Special Allowance | Rs 911 | Rs 911 |
House Rent Allowance | Rs 1176 | Rs 1058 |
Total IBPS Clerk Salary | Rs 19588 | Rs 19470 |
IBPS Clerk 2021 Job Profile
IBPS Clerk Job profile
requires the following Roles and Responsibilities. The IBPS Clerk Job Profile
involves a lot of duties, and not just account related to accounting, but also
has customer service and guidance. An IBPS Clerk is the first thing of contact person for bank-related inquiries and issues. He/she deals with the
front desk work and customer handling operations and this is why his Job profile is also known as Single Window Operators.
The Job Responsibilities of an IBPS Clerk
are given below.
To manage inquiry corners,
receipts, withdrawal, etc.
A clerk also deals with
opening new accounts, cash collection, issuing bank statements, and handling
mails and delivery.
Verification of various
documents and proofs submitted by the customers
Updating the passbooks of
account holders
Responsible for bank cash,
various important documents, keys, etc.
Issuing of Demand Drafts
(DDs), bank accounts for the customers, cash receipts, etc.
Sanctioning of withdrawals by
the customers
Maintaining the various
documents of the bank, balance sheets, ledger, etc.
Resolving the various issues
of the customers
Guiding customers relating to
various banking activities
Attending to treasury works
Thus, one and all an IBPS The clerk job profile is quite a task without which some of the major bank
operations might not be possible.
IBPS Clerk Promotions
IBPS Clerk position offers
great chances for career growth in the Banking sector. With a good salary, a
permanent job, and other improvements. As a bank clerk, based on the performance and
contribution to the bank, there are many chances of growth. When a person works
as a bank clerk he/she learns the different ways bank functions and chances to
prove your potential and merit. A clerk has to serve for a minimum period of 3
years or 2 years in some banks before he can apply for the promotion.
Promotions are given the following two processes:
Normal/Seniority process
Merit-based/Fast track process
Normal Process: IBPS Clerks
are given promotions based on their experience and seniority. However, they
will have to clear the written exam conducted internally. Candidates who get a
promotion through this process don’t need JAIIB and CAIIB diplomas.
Merit-Based Process: Under
this, the candidates must hold JAIIB and CAIIB diplomas from the Indian
Institute of Banking and Finance (IIBF).
The level of promotions for an IBPS Clerk is
given below.
1. Clerk
2. Officer
3. Senior
Officer
4. Asst
Manager
5. Manager
6. Senior
Manager
7. Chief
Manager
8. AGM
9. DGM
10. GM
Those who join through the PO Programme
will directly be given Assistant Manager cadre post-confirmation as Management
Trainee.
Assistant Manager – Scale 1
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
The Banking clerk is an entry-level position in any bank and after appointment, as candidates get the
experience of working or their daily schedules, they will get more
opportunities to prove the work qualities that can provide a promotion to them
and can also help them to reach the senior post.
