Indian Bank PO 2020 - Salary and Perks

Updated On -

Jul 9, 2020

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Abanti Pramanik

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Indian Bank, one among India's largest public-sector banks, issued an official Indian Bank PO Notification for enrollment to the Indian Bank Manipal School of Banking's (IBMSB) Postgraduate Diploma in Banking and Finance (PGDBF) course. The students will be appointed as Probationary Officers at various branches of Indian Bank around the country once the course is completed.

There are 417 vacancies for Indian Bank PO posts across India this year. It is a very prestigious job, offering great Indian Bank PO salary and abundant potential for advancement. Aspiring applicants must have a good understanding of the pay structure of the Indian Bank PO, wages, incentives and benefits, job requirements and job prospects. Read further to discover all the information pertaining to Indian Bank PO Salary and Perks.

Indian Bank PO Recruitment Highlights

  • Exam Name: Indian Bank PO
  • Authority: Indian Bank
  • Official Website: indianbank.in
  • Purpose: Hiring of Probationary Officers (PO) for admission to the PGDBF course at IBMSB
  • Location of Job : All over India
  • Type of Job: Government
  • Category of Job: Bank Job
  • Number of Vacancies: 417
  • Application Mode: Online
  • Examination Mode: Online
  • Stages: Prelims, Mains, Personal Interview

The last date to apply for the examination was May 2020. For those who wish to apply for the exam next year, they must keep in mind that prior to applying for the exam, candidates must go through the official Indian Bank notification. A review of the eligibility requirements set out by the Indian Bank must be done.

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Check Indian Bank PO 2020: Dates, Eligibility, Application Form, Pattern & Syllabus

Indian Bank PO 2020 Notification

Indian Bank PO 2020 recruitment will be issued in the near future. The notification would include information about the submission, the dates of the examination, the selection process and the number of vacancies. Candidates must fill out the application form on the Indian Bank PO and pay the fees online. The fee is INR 100 for candidates from SC / ST / PWD, and INR 600 for others.

Indian Bank PO Structure of Salary

The complete Indian Bank PO Salary that one will receive in hand depends on the place of posting. Indian Bank PO Salary may vary for metro cities, state capitals, and district level or rural areas as some elements of the salary reflect on the place of posting.

Now, let us look at the wage structure of the Indian Bank in depth:

  • Basic Salary: INR 23, 700
  • Dearness Allowance (DA): INR 10,163.63
  • Special Allowance: INR 1,863
  • City Compensatory Allowance (CCA): 3-4 percent
  • House Rent Allowance (HRA): 8.5 percent, 7.5 percent or 6.5 percent based on the location of posting

With the inclusion of all these elements, the total in-hand salary through Indian Bank PO per month would be about INR 38,000.

Indian Bank PO Perks

In addition to the Indian Bank PO salary mentioned above, the Probationary Officers will enjoy the following perks:

  1. Furniture expenses for one time
  2. Newspaper allowance
  3. Travel expenses
  4. Business development expenses
  5. Medical aid and expenses
  6. House maintenance expenses

Indian Bank PO Job Description

  • Working as a Probationary Officer is about understanding more about the financial system and everyday financial work.
  • Indian Bank POs have to be able to multitask and engage in all kinds of office operations.
  • Indian bank POs work in various bank departments such as Marketing, Accounts, Finance, Loans and Advances and so on and acquire practical knowledge about how every department operates.
  • They handle the clerical work as well in all the departments of the bank.
  • They deliver customer support and services, and have to manage the bank's numerous customer requests and demands related to opening bank accounts, issuing cheque books, Demand Drafts (DD), ATM, and so on.
  • Processing loans is among the most critical activities performed by Provisional Officers. They will monitor the complete loan grant operation, including document verification.

Download Indian Bank PO 2020 Sample Papers, Old Question Papers and Practice Tests

Indian Bank PO Career Growth

A job as a Probationary Officer at Indian Bank offers great prospects for development. Besides pay rises, there are internal evaluations as well. Depending on your performance in these tests as well as experience, you can grow and achieve higher positions.

Thus, based on your performance, a career as a Probationary Officer at Indian Bank has vast potential to develop both personally and professionally. So, if you really wish to be working in India's banking sector, you must give the exam your best shot. Be meticulous with the syllabus of Indian Bank PO and consistently practice it. Familiarize yourself with the exam pattern. You should also take mock tests of bank PO and focus on the errors that you make after each test.

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

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