The IBPS Notification consists of the details of IBPS Clerk Salary which will be applicable for all the new joinees. An IBPS Clerk Salary consists of a lot of perks and allowances that add up to become the gross salary of the candidate. The IBPS will release the IBPS Clerk 2020 notification soon on the official website.
IBPS Clerk Salary
Table of Contents
An IBPS Clerk is a white-collar job hence the IBPS Clerk Salary is also very attractive as compared to its counterparts. There are a lot of allowances and perks that every bank provides to their clerks. The gross IBPS Clerk Salary after all the deductions are around Rs 26,500. The 11th BPS settlement is also pending post which there will be an increment in the IBPS Clerk Salary. An IBPS Clerk Salary is also subjected to deductions that are mostly done for NPS contribution and Investments.
Summary of IBPS Clerk Salary
|Institute of Banking Personnel and Selection
|Mid September 2020
|Preliminary Exam date for IBPS Clerk
|Mains Exam date for IBPS Clerk
|LPT for Clerk
|The candidate needs to have completed his graduation/post-graduation from a recognised state/private board.
|IBPS Clerk Exam Pattern
Language Proficiency Test
|IBPS Clerk Admit Card Link
|Result Link for Preliminary Exam
IBPS Clerk Salary and Pay-scale
|House Rent Allowance(HRA)
|Total (without HRA)
|Gross with HRA
Dearness Allowance: This refers to the inflation component and it is 4 percent of the Basic Pay. The DA depends on the CPI and is revised every three months or quarterly.
House Rent Allowance: The HRA is dependent on the location of the posting of the candidate. The HRA is different for A class cities and low-class cities. The HRA is 8.5 percent of the Basic Pay for Metro Cities, 7.5 percent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 percent of the Basic Pay for other cities.
Travel Allowance: The travel allowance is the amount of petrol that is being used by the official for going to and from the office to home. If they are subjected to any official tours and travels then it is also reimbursed by the bank.
Medical Allowance: This is an annual allowance that is paid to the clerk for keeping with their well beings. The amount of the medical allowance is fixed at Rs 2000.
IBPS Clerk Salary and Growth
The IBPS Clerk job offers a wide range of growth prospects to the students selected as IBPS clerk within any nationalized bank of India. The students who get selected as IBPS Clerk have two options for promotions which is:
- Age-based Promotions– This kind of promotion is given to the candidate based on his age or seniority level in the bank. If a clerk does not opt for fast-track promotion, then he receives only yearly increments in IBPS Clerk Salary like any other staff. A candidate has to complete 10 years in the banking services to seek age-based promotion.
- Fast-Track Promotions– The fast track promotions is the fastest way to get promoted from the clerical level to the higher or officer level. In this method, the students have to clear two exams i.e. JAIIB and CAIIB. Both of these exams offer the benefit of increment in the IBPS Clerk Salary and merit-based points that can be used while seeking promotions. A clerk becomes eligible for promotion after 3 years of his service in the bank.
Growth Hierarchy for an IBPS Clerk
An IBPS clerk is the lowest cadre in the banking management, there are departmental promotions with which a candidate can secure high positions post joining as a clerk. The growth hierarchy of an IBPS Clerk post joining is as follows:
- IBPS CLERK
- JMGS Scale 1
- Manager, Scale 2
- Senior Manager
- Chief Manager
- Assistant General Manager
IBPS Clerk Job-profile
The candidates who join as Clerk in various nationalised banks who participate in the IBPS banks have to work as a clerk. The selected candidates have to do the following activities as a single window operators in banks:
- The clerk is subjected to do verification of various documents and proofs submitted by the customers as per KYC norms.
- A clerk is also responsible for keeping and collecting cash from a bank customer, various important documents, etc.
- He is also entitled to allow and allot withdrawals by the customers
- He has to maintain the various documents of the bank, balance sheets, ledger, etc.
- He has to Resolve the various issues of the customers
- Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc
- To Provide information about the latest schemes and government policies
- He has to Provide guidance to customers relating to various banking activities
- The candidate has to Attend to treasury works
- He also has to update the passbooks of account holders
- Resolving queries of the customers
Banks Participating in IBPS Clerk
There are a lot of nationalized banks that participate in the process of selecting clerks state wise, the list of the banks are as follows. The vacancy drawn by each bank will be updated once the official notification is available on the official website:
- ALLAHABAD BANK
- ANDHRA BANK
- BANK OF BARODA
- BANK OF INDIA
- BANK OF MAHARASHTRA
- CANARA BANK
- CENTRAL BANK OF INDIA
- CORPORATION BANK
- INDIAN BANK
- INDIAN OVERSEAS BANK
- ORIENTAL BANK OF COMMERCE
- PUNJAB & SIND BANK
- PUNJAB NATIONAL BANK
- SYNDICATE BANK
- UCO BANK
- UNION BANK OF INDIA
- UNITED BANK OF INDIA
Documents Required for verification
There are a list of documents that has to be presented post selection in the IBPS as clerk which are as follows:
- IBPS Application form
- The candidate must produce the original copy of 10th class/ 12th class and Graduation mark sheet
- The candidate must produce self-attested copies of PAN Card/Adhar Card.
- A scanned copy of colored passport size photo of the candidate in JPG format
- NOC from the previous employer
- Medical Certificate
- The scanned copy of the candidate’s signature in JPG format
- A caste certificate if he is a reserved candidate.
For further more information details about IBPS Clerk Salary and Job profile, read the official notification carefully. You can also share your doubts with us through the comment section. Thanks!