The IBPS Clerk Salary in 2024 is a key aspect for many candidates considering this career path. The starting salary for an IBPS Clerk is ₹19,900 per month, and it can go up to ₹47,920 with experience and promotions. IBPS Clerk Salary package includes various allowances such as Dearness Allowance (DA), House Rent Allowance (HRA), and Special Allowance, which together enhance the overall compensation. During the training period, candidates receive a reduced salary, but they will get the full salary package once their training is completed and they are officially appointed.
IBPS Clerk Salary 2024
The IBPS Clerk Salary is one of the primary attractions of the post, providing a secure and rewarding career. As clerks gain experience and progress in their roles, their salaries increase accordingly. Understanding the IBPS Clerk Salary 2024 structure, including the pay scale and additional perks, is important for aspirants. The detailed IBPS Clerk Salary information, including allowances and deductions, is available in the official IBPS Clerk Notification 2024, helping candidates grasp the financial benefits of the IBPS Clerk role.
IBPS Clerk Salary
The IBPS Clerk exam is highly desirable and recognized as one of the most competitive examinations nationwide. It presents an opportunity to secure posts in various centralized banks across the country, specifically in clerical roles. The IBPS Clerk’s hand salary is approximately Rs. 30,000/- per month with basic pay of Rs. 19,900/-. The Bank Clerk’s salary structure includes allowances like Dearness Allowance (DA), House Rent Allowance (HRA), and Transport Allowance (TA), which significantly increase the overall monthly earnings.
IBPS Clerk Salary Structure 2024
The IBPS Clerk’s Salary starts at INR 19,900 and goes up to INR 47, 920. This is the basic salary, there are also some allowances and perks, the details of which are shared below.
| Headings | Amount (in INR) |
| Basic Pay | INR 19,900 |
| Dearness Allowance | INR 5,209.82 |
| Special Allowance | INR 4,118 |
| Transport Allowance | INR 757.08 |
| CCA | INR 0 |
| House Rent Allowance(HRA) | INR 2,039.75 |
| Gross Pay | INR 32,024.65 |
| Deduction (NPS Fund, Union Fee) | INR 2,570.98 |
| Net Pay | INR 29,453.67 |
IBPS Clerk In Hand Salary
The IBPS Clerk salary structure offers a combination of basic pay and various allowances, resulting in an attractive in-hand salary ranging from Rs 25,000 to Rs 30,000 per month for newly selected candidates. The pay scale is designed to increase steadily over time, starting with an initial basic pay of Rs 19,900. After the first three years, this basic pay increases to Rs 20,900, with subsequent yearly increments. Over time, the salary continues to rise, reaching Rs 24,590 after six years, and eventually climbing to a maximum basic pay of Rs 47,920 after several years of service. This progressive pay scale ensures that IBPS Clerks receive regular salary increments, reflecting their growing experience and contribution to the banking sector.
IBPS Clerk Pay Scale 2024
The IBPS Clerk’s salary in India gradually increases as an employee continues to work and gets promoted through the course of his job.
| Duration | Basic Pay | Yearly Increment |
| Initial | ₹19,900 | ₹1,000 |
| After 3 years | ₹20,900 | ₹1,230 |
| After the next 3 years | ₹24,590 | ₹1,490 |
| After the next 4 years | ₹30,550 | ₹1,730 |
| After the next 7 years | ₹42,600 | ₹3,270 |
| After 1 more year | ₹45,930 | ₹1,990 |
| Maximum Basic Pay | ₹47,920 | – |
IBPS Clerk Allowances 2024
Once candidates complete the probation period, they are allocated additional allowances also with their basic salary. The allowances, other than the basic pay are explained below:
- Special Allowance: This is 7.5% of the Basic Pay. After completing one year, it may increase from ₹400 to ₹500.
- Dearness Allowance (DA): This is 4% of the Basic Pay. The DA is adjusted quarterly based on the Consumer Price Index (CPI).
- House Rent Allowance (HRA): The HRA varies depending on the posting location:
- Metro Cities: 8.5% of the Basic Pay
- Cities with a Population Over 5 Lakhs: 7.5% of the Basic Pay
- Other Cities: 6.5% of the Basic Pay
- Travel Allowance: Reimbursed by the bank for official tours and travels.
- Medical Allowance: ₹2,000 per year.
IBPS Clerk Salary- Perks
- Dearness Allowance – DA is 4% of the basic pay for the employees which is revised quarterly.
- House Rent Allowance – HRA is basically 7-9 % of the basic pay
HRA% is varied as per the cities that the candidate will be posted in eventually:
| Cities | HRA % |
| Metro Cities | 8.5 |
| Cities with a population of more than 5 lakhs | 7.5 |
| Other Cities | 6.5 |
The IBPS clerk’s salary in 2024 varies from bank to bank as well. A few other facilities that can be availed by the employees are home loans, education loans, medical benefits, etc.
IBPS Clerk Job Profile 2024
The candidates need to understand their duties and tasks. For this, we have discussed the IBPS Clerk Job Profile 2024 details below.
| Responsibility | Description |
| Back Office Tasks | Maintain ledgers, collect bank receipts, manage daily closure details. |
| Passbook Updates | Update account holders’ passbooks at counters. |
| Receipt Printing | Print receipts for cheques and demand drafts. |
| Key Management | Safeguard and manage bank keys and safe keys. |
| Customer Information | Serve at the query window to provide information to customers. |
| Cash Handling | Handle deposits and withdrawals of cash. |
| Document Verification | Verify various documents and proofs submitted by customers. |
| Cash and Document Management | Manage bank cash, important documents, and keys. |
| Withdrawal Sanctioning | Approve and process customer withdrawals. |
| Document Maintenance | Maintain bank documents, balance sheets, and ledgers. |
| Customer Issue Resolution | Address and resolve customer issues. |
| Demand Drafts and Accounts | Issue demand drafts (DDs), open bank accounts, and provide cash receipts. |
| Scheme Information | Provide information about the latest schemes and government policies. |
| Banking Guidance | Guide customers on various banking activities. |
| Treasury Work | Attend to treasury-related tasks. |
| Query Resolution | Resolve customer queries and issues. |
| Miscellaneous Tasks | Perform various other tasks as required. |
IBPS Clerk 2024 Career Growth
IBPS Clerks have many chances to grow in their careers. They can take promotion exams based on their performance, seniority, and experience. When they pass these exams, they move to higher positions, which increases their salary. The promotion hierarchy for IBPS Clerks is:
- Assistant Manager Scale I
- Manager Scale II
- Senior Manager Scale III
- Chief Manager Scale IV
- Assistant General Manager Scale V
- Deputy General Manager Scale VI
- General Manager Scale VII
Promotion Processes for IBPS Clerk
After becoming a clerk in a public sector bank, employees can pursue promotions to officer posts after completing 2 years of service. Public sector banks hold promotion tests every 2 years. Employees need to apply for promotions and pass exams like JAIIB and CAIIB. After becoming an officer, the career prospects include various higher-ranking posts within the bank.
| Promotion Process | Description |
| Normal/Seniority-based Process | Candidates qualify for internal exams based on seniority and experience to be considered for promotion. |
| Merit/Fast-track-based Process | Candidates need to obtain JAIIB and CAIIB Diplomas from IIBF to qualify for promotion through this accelerated career progression path. |
IBPS Clerk Probation Period
After being selected for IBPS Clerk, candidates must undergo a 6-month probation period. During this time, their performance will be evaluated, and upon satisfactory work, they will receive a confirmation letter.
IBPS Clerk Salary Slip
The IBPS Clerk Salary Slip for 2024 showcases a comprehensive breakdown of an employee’s earnings and deductions. The basic pay is set at Rs.19,900, complemented by allowances such as Dearness Allowance, House Rent Allowance, and Special Allowance. Deductions include contributions to Professional Tax (INR 200) and Provident Fund (INR 2,000). The gross salary sums up to Rs.34,237 with a net salary of Rs.32,024 after deductions. Additional benefits include medical allowance, leave travel concession, pension scheme, and insurance coverage, making the compensation package attractive and well-rounded.
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IBPS Clerk Salary 2024 – FAQs
Ans. IBPS Clerk’s Salary in hand is between 28,000 to Rs. 30,000 per month.
Ans. IBPS clerk’s basic pay is Rs. 19,900 rupees and the maximum goes to Rs. 47,920 rupees
Ans. DA, or Dearness Allowance, constitutes 4 percent of the Basic Pay. It is subject to revision every three months based on the Consumer Price Index (CPI).
Ans. Yes, the bank reimburses official tours and travel expenses incurred by IBPS Clerks.
Ans. IBPS Clerks receive a fixed Medical Allowance of Rs 2000 annually.
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