IBPS Clerk Salary 2021
IBPS Clerk Salary 2021: 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 for 2021, there is a curiosity among the candidates regarding the salary, perks, and allowances.
This article below has detailed the candidates with the IBPS Clerk Job Profile, including Salary In hand, Pay Scale, Allowances, Job Profile & Promotions. Read further for complete details.
IBPS Clerk Salary 2021: 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 11,765.
IBPS Clerk Payscale is 11765-655/3- 13730-815/3- 16175-980/4- 20095-1145/7- 28110-2120/1- 30230/1310-1- 31540.
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 11,765 while the maximum is Rs 31540.
|Initial Basic Pay||Rs 11,765, 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 a yearly increment of Rs 2120 for the next year|
|Basic Pay after the next 1 year||Rs 30230, with a yearly increment of Rs 1310 for the next year|
|Basic Pay after next year 1 year||Rs 31540 (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 1561|
|Dearness Allowance (DA)||
|House Rent Allowance (HRA)||
|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.|
The variation of IBPS Salary and Allowances as per the location :
|IBPS Clerk Salary Structure – Divisions||Population More Than 45 lakhs||Population Less Than 45 lakhs|
|Basic Pay||Rs 11765||Rs 11765|
|Dearness Allowance||Rs 5311||Rs 5311|
|Travel Allowance||Rs 425||Rs 425|
|Special Allowance||Rs 911||Rs 911|
|House Rent Allowance||Rs 1176||Rs 1058|
|Total IBPS Clerk Salary||Rs 19588||Rs 19470|
IBPS Clerk Job Profile
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.
- A 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 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:
- Normal/Seniority process
- 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.
- Assistant Manager – Scale 1
- Manager – Scale 2
- Senior Manager – Scale 3
- Chief Manager – Scale 4
- Assistant General Manager – Scale 5
- Deputy General Manager – Scale 6
- 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.
IBPS Clerk Salary 2021: FAQ’s
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.19,000/- to Rs.22,000/- 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 11,765 while the maximum is Rs 31540.