J & K Bank Salary 2021: Pay Scale, Perks & Allowances

J & K Bank Salary 2021: You must be aware that the Jammu and Kashmir Bank has released a total of 1850 Vacancies for the post of Banking Associate and Probationary Officer (PO). Out of the 1850 vacancies released by the JK Bank, 1500 vacancies are for the post of Banking Associate and 350 for the post of PO.

J and K Bank is a highly secured bank that offers great pay. This article aims to shed light on the salary, perks, and allowances, joining details on working at JK Bank. Before we proceed into the details of the salary, let us have an overview of the J & K Bank Exam 2021.

JK Bank Salary 2021: Overview

JK Bank Salary 2021
Name of the Bank Jammu and Kashmir Bank (J&K Bank)
Post
  1. Banking Associate and
  2. Probationary Officer (PO)
Total Vacancies 1850 vacancies
Selection Process Written Online Test
Stages of Selection
  • 3 stages for Bank PO
  • 1 Stage for Bank Associate
Notification Click Here To Download
Application Mode Online
Category Bank Jobs
Application Date 20th June 2020
Job Location Jammu & Kashmir
Official Site  www.jkbank.com

JK Bank Salary 2021

As the online process will begin from 20th June onwards, candidates must be eager to know about the Salary, Growth Opportunities, Perks, and allowances. Jammu and Kashmir Bank is semi government-owned bank having a pan India presence with almost 700 branches and expanding. Diversity, inclusion, and mutual respect are essential elements of working at J&K Bank.

Let us now discuss the salary of J & K Bank PO and Banking Associates.

JK Bank PO Salary

The starting basic pay is Rs. 23700/-
Pay Scale of 23700-980/7-30560-1145/2-32850-1310/7-4202.
A JK Bank PO will receive other perks applicable to Junior Management Grade Scale-l (JMGS-I).

To sum it up, refer to the table below:

Scale Basic Salary Payscale
JMGS – l Rs. 23700/- 23700-980/7-30560-1145/2-32850-1310/7-42020

Increments For JK Bank PO

  • A newly recruited Probationary officer will get Rs.23700/- as a Basic Pay per month.
  • There will be an increment of Rs.980/- annually for the next 7 years.
  •  After 7 years, the Basic Pay will be Rs.30560/-. Thereafter, there will be an increment of Rs.1145/- annually for a period of 2 years.
  • After the next two years, the Basic Pay will be Rs. 32850/-.
  • Then there will be an increment of Rs.1310/- per year for the next 7 years until the Basic Pay reaches Rs.42020/-

J & K Bank PO Salary: Joining Details

  1. The selected candidates, at the time of joining, will have to execute a bond of Rs.5 Lakhs to serve the bank for a minimum period of 5 years.
  2. On successful joining as a Bank PO, they will be on probation for a period of 2 years.
  3. Their performance will be assessed during the probationary period.
  4. The candidates who qualify in the assessment as per the standards determined by the bank will be confirmed in the service of the bank in JMGS-l.
  5. If any candidate fails to achieve the minimum standard stipulated by the bank, his/her services can be terminated.

JK Banking Associate Salary

The starting Basic Pay for the post of JK Bank Associate is Rs.13075/- (with Two Advance Increments )
Payscale:  11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540

Scale Basic Salary Payscale
JMGS – l Rs.13075/- (with two advance Increments) 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540

Increments For JK Bank Associate

  • A newly recruited Bank Associate will receive a Basic Pay of Rs.13075/- with two increments in advance.
  • Thereafter, there will be an increment of Rs.815/- for a period of three years.
  • Next, they will get an increment of Rs.980/- for the next 4 years.
  • This will follow with an increment of Rs.1145/- for a period of 7 years.
  • After that, they will get an increment of Rs.2120/-  for 1 year and RS.1310/- for 1 year until the Basic Pay reaches Rs.31540/-.

JK Banking Associate Salary: Joining Details

  1. The selected candidates, at the time of joining, will have to execute a bond of Rs.2 Lakhs to serve the bank for a minimum period of 5 years.
  2. On successful joining as a Banking Associate, they will be on probation for a period of six months.
  3. During the probationary period, the candidates will be continuously assessed for their performance.
  4. If any candidate fails to achieve the minimum standard stipulated by the bank, his/her services can be terminated.

JK Bank Salary: Perks and Allowances

The candidates who will be appointed for the post of J & K Banking Associates and PO will enjoy the following benefits along with the salary as given above.

  1. Dearness Allowance (DA)
  2. City Compensatory Allowances (CCA)
  3. House maintenance allowance
  4. Telephone bill reimbursement
  5. Entertainment allowance
  6. Travel Allowance
  7. House Rent Allowance (HRA)
  8. Medical Allowance
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