Here’s What People Are Saying About IBPS Clerk

IBPS Clerk posts are some of the most valuable employment opportunities for youngsters in India. Apart from the overall reputation of the IBPS body and the banks linked to it, the job of an IBPS Clerk comes with many perks. This is why in 2017, more than 22 lakh candidates appeared for the examinations, out of which just 7 Lakh managed to clear the prelims.

If you are pursuing the post, you should know about the pay, perks and bonuses that these employees enjoy, before you sit for the examination.

What is the monthly salary for IBPS Clerks?

The basic in-hand salary for an IBPS Clerk may range between Rs. 18,000 and Rs. 25,000 a month.

However, this is just the beginning, as all IBPS Clerks also receive additional benefits, such as health insurance, home loans, car loans and educational loans.

Furthermore, IBPS Clerks are likely to be promoted to the rank of officers. After a minimum service period of 2 years, IBPS Clerks can appear for internal examinations to rise to the position of an Officer.

IBPS Clerk Salary Structure

Facilities

Places with more than 4.5 million population

Places with less than 4.5 million population

Basic Pay Rs. 11,765 Rs. 11,765
Dearness Allowance Rs. 5,311 Rs. 5,311
House rent allowance Rs. 1,176 Rs. 1,058
Gross salary Rs. 19,589 Rs. 19,472

 

House Rent Allowance (HRA)

Cities

HRA Percentage

Places with 5 Lakh population or more 7.5%
Other cities 6.5%
Metro cities 8.5%

 

Change in salary structure after 11th Bipartite Settlement

The IBA Bipartite Settlement is currently trying to determine the increment on basic pay for IBPS Clerks.

Based on the data, the new salary structure can be one of the following.

  1. 20 percent increment

The final basic pay in case of a 20 percent bump will be Rs. 15,374. This suggests a total of 38.80 percent of HRA and dearness allowance. The total pay will be Rs. 21,339.

  1. 25 percent increment

The final pay of Rs. 22,228 will result if the salary is increased by 25 percent. The basic pay will be Rs. 16,015.

  1. 30 percent increment

In case of an increase of 30 percent, the basic pay will be Rs. 16,655. The total pay will be Rs. 23,117.

You can take online mock tests to prepare yourself if you want to ensure employment at one of the premier banks in India after passing the IBPS Clerk Exams.

Preparing for IBPS Clerk also? Join IBPS Clerk Cracker Course at ₹ 0

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