IBPS Clerk Salary 2021, IBPS Clerk In hand, Pay Scale, Allowances, Job Profile, Promotion_00.1
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IBPS Clerk Salary 2021, In-hand, Pay Scale, Job Profile

IBPS Clerk Salary 2021

IBPS Clerk Salary 2021: As the IBPS has announced the recruitment of CRP Clerks in various banks. There is a lot of confusion regarding IBPS Salary so here we have detailed the candidates with the IBPS Clerk Job Profile, including Salary In hand, Pay Scale, Allowances, Job Profile & Promotions. The Institute of Banking Personnel Selection (IBPS) is the conducting body for the recruitment of the IBPS Clerks. With the release of the IBPS Clerk Notification 2021, there is a curiosity among the candidates regarding the salary, perks, and allowances. Read the article below for complete details.

IBPS Clerk Pay Scale

IBPS Clerk Salary is the sum of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances etc.) The first Basic Pay for IBPS Clerk 2021 is Rs 19,900. The IBPS Clerk Pay Scale is Rs.19900-1000/1-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. This is not very easy to understand so we have made it more clear and easy to understand through the table below. While basically, that means the minimum Basic Pay for IBPS Clerk is Rs 19,900 while the maximum is Rs 47,920.

Basic Pay Amount
Initial Basic Pay Rs 19,900 with a yearly increment of Rs1000 for three years
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 year
Basic Pay after the next 1 year Rs 45,930, with a yearly increment of Rs 1990 for the next year
Basic Pay after next year 1 year  Rs 47,920 (maximum Basic Pay)

IBPS Clerk Salary Allowances

IBPS Clerk Salary Allowances are quite lucrative. There are several allowances provided to a clerk through IBPS. These allowances depend on various factors that may include the location of posting, how the branch is progressing and some other factors. The various types of allowances provided to the IBPS Clerk are listed below:

Special Allowance Rs 4118/-
Dearness Allowance (DA)
  • DA is 4 per cent of the IBPS Clerk Basic Pay.
  • DA depends on the CPI and is revised quarterly, i.e. after every three months.
House Rent Allowance (HRA)
  • The HRA depends on the location of the posting.
  • The HRA remains between 6.5% to 8.5% depending upon the location of the posting.
Travel Allowance (TA) Expenses on official tours and travels will be reimbursed by the bank.
Medical Allowance (MA) This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000/- annually.

IBPS Clerk Admit Card 2021 Out- Click to Download

IBPS Clerk Salary 2021, IBPS Clerk In hand, Pay Scale, Allowances, Job Profile, Promotion_60.1

The variation of IBPS Salary and Allowances as per the location :

IBPS Clerk Salary Structure – Divisions Amount paid to IBPS Clerk
Basic Pay Rs 19,900
Dearness Allowance Rs 5209.82
Travel Allowance Rs 757.08
Special Allowance Rs 4118
House Rent Allowance Rs 2039.75
Gross Pay Rs 32,024.65
Deduction allowed Rs 2570.98
Total IBPS Clerk Salary Rs 29,453.67/-

IBPS Clerk  Job Profile 2021

As the perks, allowances and salary are attractive, it can be assumed that the job profile is not going to be an easy one. IBPS Clerk Job profile involves a lot of duties and responsibilities, and not just accounting, but also has customer service, cash handling and customer guidance under its purview. An IBPS Clerk is the first point of contact person for bank-related inquiries and issues. He/She deals with the front desk work and customer handling operations and this is why his Job Profile is also known as Single Window Operators.

The Job Responsibilities of an IBPS Clerk is given below:

  • To manage inquiry corners, receipts, withdrawal, etc.
  • clerk also deals with the opening of new accounts, cash collection, issuing bank statements, and handling mails and delivery.
  • Verification of various documents and proofs submitted by the customers
  • Updating the passbooks of account holders
  • Responsible for bank cash, various important documents, keys, etc.
  • Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc.
  • Sanctioning of withdrawals by the customers
  • Maintaining the various documents of the bank, balance sheets, ledger, etc.
  • Resolving the various issues of the customers
  • Guiding customers relating to various banking activities
  • Attending to treasury works

Thus, one and all an IBPS Clerk job profile is quite a task without which some of the major bank operations might not be possible.

IBPS Clerk Salary 2021, IBPS Clerk In hand, Pay Scale, Allowances, Job Profile, Promotion_60.1

IBPS Clerk Promotions

IBPS Clerk offers great chances for growth. As a bank clerk, based on the performance and contribution to the bank, there are many chances of 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 or 2 years in some banks before he can apply for the promotion. Promotions are given the following two processes:

  1. Normal/Seniority process
  2. Merit-based/Fast track process

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 a promotion through this process don’t need JAIIB and CAIIB diplomas.

Merit-Based Process: Under this, the candidates must hold JAIIB and CAIIB diplomas from the Indian Institute of Banking and Finance (IIBF).

The levels of promotions for an IBPS Clerk in Ascending Order is given below.

Clerk > Officer > Senior Officer > Asst Manager > Manager > Senior Manager > Chief Manager > Assistant General Manager > Deputy General Manager > General Manager

Those who join through the PO Programme will directly be given Assistant Manager cadre post-confirmation as Management Trainee.

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

The clerk is the entry-level position in any bank and after appointment, as candidates get the experience of working or their daily schedules, they will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.

Also Check,

IBPS Clerk Previous Year cut off IBPS Clerk Result 2021
IBPS Clerk Exam Pattern IBPS Clerk Admit card 2021
IBPS Clerk Syllabus IBPS Clerk Apply Online

IBPS Clerk Salary 2021 FAQs

Q 1. What is the in-hand salary for an IBPS Clerk?
Ans. The In-Hand Salary for an IBPS Clerk at entry-level varies from Rs.28,000/- to Rs.30,000/- per month. However, the salary increases with the years in service.

Q 2. How can an IBPS Clerk get promoted to a higher level?
Ans. An IBPS Clerk gets promoted through two methods: Normal/Seniority process OR Merit-based/Fast track process.

Q 3. What are the benefits that an IBPS Clerk receives apart from the salary?
Ans. An IBPS Clerk gets the facility of DA, HRA, Medical, Travel, Transport Allowances to name a few.

Q 4. What is the basic pay for an IBPS clerk?
Ans. An IBPS Clerk has a basic pay of Rs 19,900/- while the maximum is Rs 47,920/-.

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  1. IBPS Clerk Salary 2021, IBPS Clerk In hand, Pay Scale, Allowances, Job Profile, Promotion_40.1

1 Comment

  1. what will be the designation if the candidate have 5 years of experience into the banking sector as the backed , either it the candidate will be considered as the fresher in case of selection ?, or an experience and salary will be hike based on the private banks last CTC.

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