IBPS Clerk 2023 Salary
The banking aspirants who are planning to apply for IBPS Clerk 2022 and are curious to know the IBPS Clerk salary structure and career growth, go through the details mentioned in the article.
IBPS Clerk Salary 2023 PayScale
As per the IBPS, the pay scale of a Clerk in IBPS is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.
This translates into
- Initial Basic Pay – Rs 11765 with a yearly increment of Rs 655 for three years.
- After 3 years – Rs 13730 with a yearly increment of Rs 815 for the next three years.
- Next 3 years – Rs 16175 with a yearly increment of Rs 980 for the next four years.
- Next 4 years – Rs 20095 with a yearly increment of Rs 1145 for the next 7 years.
- Next 7 years – Rs 28110 with a yearly increment of Rs 2120 for the next one year.
- Next 1 year – Rs 30230 with a yearly increment of Rs 1310 for the next one year.
- Maximum – Rs 31540
The minimum basic pay of an IBPS clerk starts at Rs. 11765/- and the maximum goes till Rs. 31540.
IBPS Clerk Salary Structure
|Particulars||Population Less Than 45 lakhs||Population More 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|
- 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 with Population more than 5 lakhs||7.5|
The IBPS clerk 2021 salary varies from bank to bank as well. Few other facilities that can be availed by the employees are home loans, education loans, medical benefits, etc.
IBPS Clerk Allowances
IBPS clerk gets other allowances other than the allowances besides basic pay. These are
|Dearness Allowance:||This component is 4 percent of the Basic Pay. DA depends on the CPI and is revised after every three months.|
|House Rent Allowance:||The HRA is dependent on the location of the posting. It is 8.5 percent of the Basic Pay for Metro Cities, 7.5 percent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 percent of the Basic Pay for other cities.|
|Travel Allowance:||The official tours and travels will be reimbursed by the bank.|
|Medical Allowance||Medical allowance is fixed, wherein an IBPS Clerk gets Rs. 2,000 once in a year.|
|For IBPS Clerk, this amount is fixed at INR 4118/-|