Categories: IBPS Clerk

IBPS Clerk Salary after 5 Years

IBPS Clerk Salary After 5 Years: Who doesn’t want a good salary and a clerical job in a Bank? That’s the reason why so many graduates get attracted to the IBPS Clerk Exam because it offers a lucrative salary along with perks, benefits, job security, recognition, etc., and promise of promotion in the future. It is one of the major reasons why the candidates want to grab the IBPS Clerk’s post.

So, let’s check out how IBPS Clerk Salary grows in 5 years!

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IBPS Clerk Salary After 5 Years

The minimum Basic Pay for IBPS Clerk is Rs 19,900 while the maximum is Rs 47,920. IBPS Clerk Salary is the sum total of Basic Pay and other Allowances like HRA (House Rent Allowance and Dearness allowances, etc. The IBPS Clerk Pay Scale is Rs.19,900-1000/1-20,900-1230/3-24590-1490/4-30,550-1730/7-42,600-3,270/1-45,930-1,990/1-47,920.

To know understand how the IBPS Clerk salary will increase in 5 years, let’s take a look at the table given below:

Basic Pay	Amount
Initial Basic Pay	Rs 19,900 with a yearly increment of Rs1000 for three years
After 3 years	Rs 20,900, with a yearly increment of Rs 1230 for the next three years
After the next 3 years	Rs 24,590, with a yearly increment of Rs 1490 for the next four years
After the next 4 years	Rs 30,550, with a yearly increment of Rs 1730 for the next 7 years
After the next 7 years	Rs 42,600, with a yearly increment of Rs 3270 for the next year
After the next 1 year	Rs 45,930, with a yearly increment of Rs 1990 for the next year
After next 1 year	Rs 47,920 (maximum Basic Pay)

Hurry up! Take the best IBPS Clerk Prelims Mock Tests & clear the upcoming exam!

Take the best IBPS Clerk Prelims Mock Tests & clear the upcoming exam!

IBPS Clerk Salary Allowances

There are multiple allowances provided to a serving IBPS clerk. These allowances depend on various factors that may include the location of posting, how the branch is progressing, and some other factors.

Here are all the various types of allowances that IBPS Clerk get:

Special Allowance	Rs 4118/-
Dearness Allowance (DA)	DA is 4 percent 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.

Attempt the best IBPS Clerk Prelims Mock Tests & clear the upcoming exam!

Take the best IBPS Clerk Prelims Mock Tests & clear the upcoming exam!

IBPS Clerk Promotion & Career Growth

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.

Take IBPS Clerk Prelims 2021 Mock Tests & clear the upcoming exam in style!

Take the best IBPS Clerk Prelims Mock Tests & clear the upcoming exam!

IBPS Clerk Responsibilities

With benefits, come responsibilities. An IBPS Clerk working in the clerical cadre has to fulfill many responsibilities. The main responsibility of an IBPS Clerk is to deal with customers. It involves, solving the client’s queries, making them aware of the documents and formalities, and assisting the Senior Managers. Some major responsibilities that IBPS Clerk post invites are as follows:

Verification of multiple documents and proofs submitted by the customers.
Passbook, Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc.
Guiding customers relating to various banking activities.
Managing the cash deposits and withdrawals
Passbook update
Resolving the various issues of the customers.
Attending treasury works
Single Window Operation

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Best IBPS Clerk Mock Tests with Benefits & Student-Testimonials

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Asad Yar Khan

Asad specializes in penning and overseeing blogs on study strategies, exam techniques, and key strategies for SSC, banking, regulatory body, engineering, and other competitive exams. During his 3+ years' stint at PracticeMock, he has helped thousands of aspirants gain the confidence to achieve top results. In his free time, he either transforms into a sleep lover, devours books, or becomes an outdoor enthusiast.