IBPS Clerk Salary 2024:- The Institute of Banking Personnel Selection (IBPS) recruits Clerk every year for various banks across the country. The main reason for the Clerk post being a sought-after position is the salary and various allowances. Every year lakhs of aspirants are preparing for the IBPS Clerk examination apart from the IBPS Clerk Salary, there is a major scope of growth as a Clerk. IBPS Clerk is the most sought-after job for candidates preparing for the banking examinations. In the article below we have covered IBPS Clerk Salary Structure 2024, job profile, and career promotion.
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IBPS Clerk Salary Structure 2024
The initial salary package for Clerk is Rs. 28,000 to Rs. 30,000/- per month, at the time of Joining and the starting basic pay is Rs 19,900. According to IBPS Clerk official notification, The Basic Pay for IBPS Clerk is Rs 19,900. It is the starting salary of IBPS Clerk. After the training period, the perks and other benefits are added and which may vary from bank to bank.
| IBPS Clerk Salary Structure 2024 | |
| Basic Pay | Rs.19,900/- |
| Dearness Allowance | Rs.5209.82/- |
| Special Allowance | Rs.4118/- |
| Transport Allowance | Rs.757.08/- |
| CCA | Rs.0/- |
| House Rent Allowance(HRA) | Rs.2039.75/- |
| Gross Pay | Rs.32,024.65/- |
| Deduction (NPS Fund, Union Fee) | Rs.2570.98/- |
| Net Pay | Rs.29453.67/- |
IBPS Clerk Salary: Pay Scale
Given below is the sum of Basic Pay and allowances that make up the total IBPS Clerk Salary. This implies that the minimum Basic Pay for IBPS Clerk is Rs 19900 while the maximum is Rs 32024.
| Basic Pay | Amount |
|---|---|
| Initial Basic Pay | Rs 19,900 with a yearly increment of Rs 1000 |
| Basic Pay after 3 years | Rs 20,900 with a yearly increment of Rs 1230 for the next three years. |
| Basic Pay after the next 3 years | Rs 24,590 with a yearly increment of Rs 1490 for the next four years. |
| Basic Pay after the next 4 years | Rs 30,550 with a yearly increment of Rs 1730 for the next 7 years. |
| Basic Pay after the next 7 years | Rs 42,600 with a yearly increment of Rs 3270 for the next one year. |
| Basic Pay after the next 1 year | Rs 45,930 with a yearly increment of Rs 1990 for the next one year. |
| Basic Pay after next year | Rs 47,920 (Maximum Basic Pay). |
IBPS Clerk Salary: Allowances
IBPS Clerk is also liable to get other allowances besides salary which depends on the place of posting. These other allowances like TA, DA, HRA are added in the salary and the total amount is what a person under IBPS Clerk gets in hand.
| Special Allowance | It is 7.5 percent of the basic pay, after completion of 1 year it may increase from 400 to 500 Rs. |
|---|---|
| Dearness Allowance | It is 60-70%(approx) percent of the basic pay which is revised quarterly |
| House rent allowance | It depends on the posting of the location. It is highest at 8.5%in the metropolitan cities. |
| Travel Allowance | These expenses are reimbursed by the banks(on official tours and travels only) |
| Medical Allowance | It is 2000/per year. |
IBPS Clerk Salary 2024: Career Growth
A clerk plays a very important role in a bank. He is the face of the bank as he deals with the customer directly, and manages all the cash. Apart from all the IBPS Clerk salary and benefits, he has an opportunity to learn a lot about banking functions.
- Bank Clerk
- Officer / Assistant Manager
- Manager
- Senior Manager
- Chief Manager
- Asst. General Manager
- Deputy General Manager
- General Manager
IBPS Clerk Salary 2024: Job Profile
- Verify the documents and statements submitted by the clerk in the bank.
- To update the bank passbook at regular intervals.
- A clerk is also responsible for the bank cash and various documents of the bank etc.
- He sanctions the withdrawals by the customer.
- He maintains various statements like bank balance sheets, ledger, etc.
- He provides information on various government schemes and resolves the issues of the customer.
- Attending the treasury works, distribution of cash, the deposit of cash, and other miscellaneous work.
The clerk is also known as a single-window operator. They help the customer by guiding them through various rules and formalities. They act as a point of contact for customers. A clerk plays a wide variety of roles. They act as a loan clerk, account clerk, data entry clerk, and office clerk, etc.
IBPS Clerk Salary 2024: Promotion
IBPS Clerk provides ample ways to personal and professional growth. When a person works as a bank clerk he 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 before he can apply for the promotion. After then he gets a chance to grow himself.
IBPS Clerk promotion based on experience and seniority. They have to clear a written exam which is conducted internally. The clerk gets a chance to become a trainee officer and then a Probationary officer. He doesn’t need to apply from JAIIB and CAIIB.
If a candidate is applying through JAIIB and CAIIB then he must possess a diploma from the Indian Institute of banking and finance.
Now, when you have an idea about the IBPS Clerk exam pattern, IBPS clerk Syllabus and IBPS Clerk job profile and growth, there is no need to wait to start your preparation. Start them right away.
FAQs: IBPS Clerk Salary 2024
Q. What is the starting salary of IBPS clerk?
Ans. The minimum basic pay of an IBPS clerk is Rs. 19,900/- and the maximum goes to Rs. 47,920..
Q. Is IBPS clerk salary increased?
Ans. IBPS Clerk salary becomes INR 20,095 after four years with an annual increment of INR 11,045.
Q. What are the Perks and allowance given to IBPS Clerk 2024?
Ans. There are a lot of perks and allowances which are given to IBPS Clerk 2024 are Medical facility, HRA, DA, etc.
Q. How much medical allowance is provided to a Clerk?
Ans. It is 2000/per year.
Q. Can a Clerk become PO?
Ans. Different banks have different promotion criteria but the majority of the banks give great opportunities.
