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.
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.
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|
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 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|
|House Rent Allowance||
|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 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:
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||
|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 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.
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|
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.