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IBPS CLERK Salary Structure, Pay Scale, Allowances & Benefits 2021

Updated On -

Nov 6, 2020

IBPS Clerk examination is conducted annually by the Institute of Banking Personnel Selection. IBPS recruits clerks to fill in vacancies of various national public sector banks. The most important reason why lakhs of candidates write IBPS Clerical exam is due to its attractive salary and consistent career growth. Therefore, there is a cut-throat competition here.

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In this article, we will discuss IBPS Salary, increments, benefits, perks and allowances, career prospects, future avenues, promotions etc. For more details on IBPS Clerk, read on.

IBPS Clerk Salary

IBPS Clerk Salary 2021 Details

The minimum basic pay of IBPS clerk is Rs 11765. However, with years of promotion, the maximum basic pay that IBPS clerk can get is Rs 31540. Along with basic pay, the employees are given various allowances such as Dearness, House Rent, Travel, Special and Medical allowances. The details of which are given in the table below :

IBPS Clerk Salary >45 lakh population <45 lakh population
Basic Pay INR 11765 INR 11765
DA INR 5311 INR 5311
HRA INR 1176 INR 1058
Travel Allowance INR 425 INR 425
Special Allowance INR 911 INR 911
Total Salary INR 19588 INR 19470

IBPS Clerk Salary Increments

11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.

  • Initially, IBPS Clerk will be paid Rs 11,765 with yearly increment of Rs 655 for a duration of 3 years
  • After 3 years, basic pay of Rs 13730 will be paid along with an increment of Rs 815 for a duration of next 3 years
  • After 3 years, a basic pay of Rs 16175 will be paid along with yearly increment of 980 for next 4 years
  • After 4 years, basic pay of Rs 20095 will be paid along with Rs 1145 for next 7 years
  • After 7 years, basic pay of Rs 28110 will be paid along with Rs 2120 for next 1 year
  • After 1 year, basic pay of Rs 30230 will be paid along with Rs 1310 for next 1 year
  • Basic pay after next 1 year is Rs 31540 (maximum)
IBPS Clerk in-hand Salary

IBPS Clerk In Hand Salary 2021

As per 7th pay commission, IBPS Clerk in Hand salary varies from Rs. 19,000 to Rs. 22,000 per month at entry level. Salary increases along with increase in years in service.

IBPS Clerk Benefits, Perks & Allowances

IBPS Clerk is one of the most sought after job for the candidates interested to pursue their career in banking sector mainly due to the its attractive benefits, perks and allowances. The details of which are given in the table below:

Benefits, Perks & Allowances
Dearness Allowance
  • DA depends on CPI and is paid 4% of IBPS Clerk Basic Pay.
  • Starting amount of DA is INR 7073
House Rent Allowance
  • HRA differs from location to location
  • HRA is paid in between 6.5% to 8.5%
Medical Allowance MA is fixed at INR 2200 annually
Travel Allowance Expenses incurred on official trips are reimbursed by the bank.
Special Allowance Fixed at INR 1561
IBPS Clerk Jobs

IBPS Clerk Job Responsibilities 2021

IBPS Clerk exam recruits candidates at an entry level. The bank’s clerical work is wide and vast. For the candidates who are interested to know more about the kind of tasks they are going to perform once selected, the details are given below:

  • Manage inquiry, receipts, withdrawal
  • Open new accounts, collect cash, issue bank statements and handle mails, delivery
  • Verify documents and proofs
  • Update passbooks of customers
  • Issue Demand drafts
  • Sanction withdrawal of amount by account holders
  • Maintain documents of bank such as balance sheet, ledgers etc
  • Guide customers in banking activities and resolve complaints, grievances
  • Attend to treasury works
IBPS Clerk Promotions

IBPS Clerk Promotions

It is mandatory for clerk to serve for a period of 2 or 3 years in order to be eligible for the promotion. Promotions of IBPS Clerks takes place in two processes: Normal and Merit based. The details of both the process is given in the table below.

IBPS Clerk Promotions
Normal/Seniority based Process
  • Candidates should clear a written exam which is conducted internally to be promoted based on experience and seniority
  • Candidates in this process doesn’t require JAIIB and CAIIB Diploma
Merit/Fast track based Process Candidates mandatorily require JAIIB and CAAIB Diploma from IIBF to become eligible to be promoted under this process.
IBPS Clerk Avenues

IBPS Clerk Future Avenues 2021

IBPS Clerk exam gives the opportunity for the selected candidates to start at clerk level and then slowly, with number of years in service and lucrative promotions, they have the possibility to be appointed as General Manager, top executive level post in the selected Public Sector Banks.

  1. General Manage
  2. Deputy General Manager
  3. Assistant General Manager
  4. Chief Manager
  5. Senior Manager
  6. Manager
  7. Assistant Manager
  8. Senior Officer
  9. Officer
  10. Clerk
IBPS Clerk banks

Various Public Sector Banks in IBPS

Candidates seeking to make a career in banking sector and are interested to work in PSBs should give the IBPS Clerk exam. The exam recruits candidates as clerks at the entry level in the given list of renowned and prestigious public sector banks.

List of Public Sector Banks in IBPS
Allahabad Bank Indian Overseas Bank
Andhra Bank Oriental Bank of Commerce
Bank of Baroda Punjab National Bank
Bank of India Punjab & Sind Bank
Bank of Maharashtra UCO Bank
Canara Bank Union Bank of India
Central Bank of India United Bank of India
Corporation Bank Syndicate Bank
Indian Bank -
IBPS Clerk FAQs

IBPS Clerk FAQs

Ques. What is the educational qualification required to write IBPS Clerk Exam ?

Ans. Candidates need to be graduates in any disciple from a College/University recognized by Government of India or equivalent qualification recognized by Central Government.

Ques. What is the age criterion of IBPS Clerk exam?

Ans. Anyone in between 20-28 years is eligible to apply for the exam.

Ques. Is there any age relaxation for SC/ST candidates?

Ans. Yes, for SC/ST candidate’s age is relaxed for 5 years.

Ques. What is the application fee for IBPS Clerk exam?

Ans. It depends. General category candidates should pay Rs. 600 whereas SC/ST/PwD/Ex SM need to pay Rs. 100

Ques. What is the medical allowance paid to IBPS Clerk ?

Ans. Medical allowance paid is 2200 per year

*The article might have information for the previous academic years, please refer the official website of the exam.

Comments


2 Comments
K
kashish tomar
what is the inhand salary of ibps clerk?
K
kavita rani

Hi Kashish. The minimum In-Hand salary of an IBPS Clerk is INR 11,765. However, with years of promotion, the maximum basic pay that IBPS clerk can get is Inr 31540. More information related to salary and other perks are presented here.
 

K
kashish tomar
What is the pay scale in bank job?
K
kavita rani

Hi Kashish. The pay scale of IBPS Clerk is INR 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540. More details can be checked here.