IBPS Clerk Salary In Hand Check HRA,DA,Allowances

Institute of Banking Personnel Selection has released the IBPS Clerk Notification 2020 on its official website. Students who are aiming IBPS Exam are eager to know about IBPS Clerk Salary & Job Profile. To help those aspirants out, we have prepared a dedicated post on IBPS Clerk Salary 2020.

• Before starting preparation, it is important for candidates to be aware of the job profile and salary to keep motivated throughout their preparation.
• This year, a total of 12075 vacancies are released by the IBPS. So, it is a wonderful opportunity for the candidates aspiring to make a career in the banking and financial sector.
• Candidates must know the latest IBPS Clerk Cut Off as it will help them to understand the exam in a better way.

Latest News: [IBPS Clerk Final Result 2020 Declared! Check Here]

IBPS Clerk Salary 2020

The notification for IBPS CWE Clerk VIII Recruitment was released in the month of September 2019. Every year lakhs of applicants sit for the exam with a hope to get selected for the position of clerk at banks under IBPS. If you are one such and have applied for CWE Clerk then you must explore the IBPS Clerk Salary and allowances, Job prospects, and chances of growth in career. This article aims to share all such essential information regarding the IBPS Clerical job. The topics covered here shall be:

• Job profile of Clerk.
• Salary of an IBPS Clerical Cadre.
• Scope of Career Growth.

IBPS Clerk Salary Structure

Candidates can go through the table below to know the variations of IBPS Salary and Allowances as per the location.

IBPS Clerk Salary and Pay Scale

The initial Basic Pay for IBPS Clerk is Rs 11,765. The IBPS Clerk pay scale is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540, which means the minimum Basic Pay for IBPS Clerk is Rs 11,765 while the maximum is Rs 31540. 

Initial Basic Pay: Rs 11765 with a yearly increment of Rs 655 for three years.

Basic Pay after 3 years: Rs 13730 with a yearly increment of Rs 815 for the next three years.

Basic Pay after the next 3 years: Rs 16175 with a yearly increment of Rs 980 for the next four years.

Basic Pay after the next 4 years: Rs 20095 with a yearly increment of Rs 1145 for the next 7 years.

Basic Pay after the next 7 years: Rs 28110 with an early increment of Rs 2120 for the next one year.

Basic Pay after the next 1 year: Rs 30230 with a yearly increment of Rs 1310 for the next one year.

Basic Pay after next year: Rs 31540 (maximum Basic Pay).

IBPS Clerk Salary: Other Allowances

Apart from the basic salary, IBPS Clerks are entitled to other allowances which are calculated based on the location of posting and other factors. Hence, accounting for all of the allowances, the starting IBPS Clerk Salary after 11th Bipartite Settlement is about Rs. 19,000 to Rs. 21,000. Go through the table below to know the detailed IBPS Clerk in-hand salary.

IBPS Clerk Salary Slip

Here, we have provided the salary slip of an IBPS Clerk to help aspirants know the basic salary and the net salary after deductions.

IBPS Clerk Job Profile 2020

Qualifying the IBPS CWE Recruitment and acquiring a position as IBPS Clerk is a matter of prestige. Being associated with a banking sector comes with a lot of perks as well as responsibilities. You must know about the job role of a Clerk before applying. The major responsibilities as IBPS Clerical officer include:

• Working as a Single Window Operator to receive cheques, drafts, cash payments, and cash deposition.
• Banking document verification.
• Validating authentic signature and trace if any discrepancies present.
• Updating the passbook of customers
• Resolving queries of the customers
• Providing guidance to customers relating to various banking activities
• Maintaining the various documents of the bank, balance sheets, ledger, etc.
• Helping customers with new account opening
• Providing information about the latest schemes and government policies
• Miscellaneous tasks
• Assigned as a head cashier, the clerical officer is responsible for the bank cash, keys, and other valuables.

IBPS Clerk Promotions

IBPS Clerk’s job offers a good salary, a settled job, and great chances of growth both personal and professional levels. Based on your performance, you will get a chance to grow. However, a minimum of 2 years of service is required to get eligible for a promotion. After two years of service, IBPS Clerks gets promoted once in every two years. Promotions are given on the following two processes:

• Normal Process
• Merit-Based Process

Normal Process:

Under the normal process, IBPS Clerks are given promotions based on their experience and seniority. However, they will have to clear the written exam conducted internally. Candidates who get promoted through this process do not require JAIIB and CAIIB Diploma. After the qualification of the written exam, IBPS Clerks become Trainee Officers and then Bank Probationary Officers (PO).

Merit-Based Process:

Under the Merit-based process, candidates must hold JAIIB and CAIIB diploma from the Indian Institute of Banking and Finance.

IBPS Clerk Career Growth

After becoming a probationary officer (PO), there are seven scales in officer cadre and those are as follows:

• Scale 1 – Assistant Manager
• Scale 2 – Manager
• Scale 3 – Senior Manager
• Scale 4 – Chief Manager
• Scale 5 – Assistant General Manager
• Scale 6 – Deputy General Manager
• Scale 7 -General Manager

IBPS Clerk Salary FAQ’s

Q) What is the IBPS Clerk in-hand salary?

The IBPS Clerk Salary in hand at entry-level varies from Rs.19,000/- to Rs.22,000/- per month. However, the salary increases based on experience.

Q) What are the benefits that an IBPS Clerk receives apart from the salary?

Apart from the salary, IBPS Clerks are entitled to many other allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), Travel Allowance (TA), Medical Allowance, and Special allowance.

Q) What is the pay scale of IBPS Clerk at the time of joining?

At the time of joining, the pay scale of an IBPS Clerk is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540, which means the minimum Basic Pay for IBPS Clerk is Rs 11,765 while the maximum is Rs 31540. 

Q) How can an IBPS Clerk get a promotion?

Banks conduct internal Interviews and exams for promotions. Employees can apply for those internal exams and get promoted to higher posts. The promotion process is carried in two processes:

• Normal process
• Merit-based Process

Q) What are the roles and responsibilities of an IBPS Clerk?

The major responsibilities as IBPS Clerical officer include:

• Working as a Single Window Operator to receive cheques, drafts, cash payments, and cash deposition.
• Banking document verification.
• Validating authentic signature and trace if any discrepancies present.
• Updating the passbook of customers
• Resolving queries of the customers
• Providing guidance to customers relating to various banking activities
• Maintaining the various documents of the bank, balance sheets, ledger, etc.
• Helping customers with new account opening