IBPS Clerk 2020 Salary, Job Profile, And Growth

IBPS Clerk 2020 (Institute of banking personnel and selection) conduct many banking exams every year. IBPS clerk exam is also one of the exams conducted by IBPS every year. The clerk is recruited by IBPS every for various banks.

IBPS Clerk 2020 Salary, Job Profile, And Growth
IBPS Clerk 2020 Salary, Job Profile, And Growth

Every year IBPS released thousands of vacancies for aspirants who want to join the banking sector.

IBPS clerk 2020 is one of the most important posts in the banking sector. Millions of students apply for the post of IBPS clerk every year. Clerk’s job is also called a single-window operator and clerk cum cashier.

Students who passed the IBPS clerk’s mains exam are eager to know everything about the IBPS clerk post. They want to know about basic pay gross salary career growth and promotion process in IBPS clerk.

We are here to provide you every single detail about the IBPS clerk 2020. IBPS recently released mains exam results. This year’s result is late because of epidemic COVID 19.

Also Check: IBPS RRB 2020 Notification Total Vacancies And Exam Date

Every year IBPS mains exam was conducted in the month of February and the result is declared on 1st April. IBPS released its all detail about salary with notification released by the IBPS.

What is the starting basic pay of IBPS Clerk 2020?

Facilities/Salary Amount
Basic Pay 13075
Special Allowance 1561
Travel allowance 425
Dearness Allowance 7073
CCA NA
HRA 980
Total 23115
Gross Salary 23115

Pay Scale of IBPS Clerk are followed:

  • Starting basic pay for IBPS clerk is 11765 and year one increment is applied of 655 till three years of service.
  • After completing the first three years of service basic pay is increased to 13730 and one increments are applied every year till the upcoming three of service. This time increment is higher than in previous years. An increment of 851 re is applied.
  • Basic pay after completing the next three years of service one increment is applied each year. Now basic will be 16175 and yearly increment will be 980.
  • Basic pay after completing the next four years of service will be changed and increased. Now basic pay will be 20095 and yearly increment will also increase to 1145.
  • Basic pay after completing the next seven years of service will be changed and increased. Now basic pay will be 28110 and yearly increment will also increase to 2120.
  • Basic pay after completing the next year of service will be changed and increased. Now basic pay will be 30210 and yearly increment will also increase to 1310.
  • Basic pay will reach its highest and become 31540 and it is the maximum basic pay for IBPS clerk 2020.

Now we can see the minimum and maximum basic pay for the post of clerk in public sector banks.

Minimum – 11765

Maximum – 31540

Other benefits attached to the IBPS clerk 2020 other than basic pay are as follows. As we mentioned all the allowance in the table above. But now we are trying to explain it in detail.

#DEARNESS ALLOWANCE:- Dearness allowance is given to the Government employees and the same is also given to the IBPS clerk. This component is 4 percent of the basic pay. It is given to the employees because of inflation. To minimize the impact of inflation on Government employees DA is given by the Government to its employees. It is calculated on the basis of inflation. And it is revised every year.

#HOUSE RENT:- It is based on the basis of location and population of place where you are going to join. Employees who don’t own their house at the posted place then bank give them house rent allowance. We try to clarify for you in a simple way hope you will understand it well.

  • 8.5% of basic pay – metro city
  • 7.5% of basic pay – population more than 5 lakh
  • 6.5% of basic pay – other metro cities

#MEDICAL ALLOWANCE:- Medical allowance is given by all banks to their permanent employees. And this medical allowance is fixed for the IBPS clerk. It is given to the employees annually basic. All public sector banks give a medical allowance of re 2000 every year to the IBPS clerk. It is given for their routine check-up.

#Traveling ALLOWANCE:- It is an additional amount given by banks to their employees. An employee can reimburse it for the official tours through banks.

Special Allowances:

Special Allowance It is 7.5 percent of the basic pay, after completion of 1 year it may increase from 400 to 500 Rs.
Dearness Allowance It is 60-70%(approx) percent of the basic pay which is revised quarterly
House rent allowance It depends on the posting of the location. It is highest at 8.5%in the metropolitan cities.
Travel Allowance These expenses are reimbursed by the banks(on official tours and travels only)
Medical Allowance It is 2000/per year.

Important Links:

Check More About IBPS Clerk 2020 job growth Click Here
Check Official Website of IBPS Click Here

So, I think the topic “IBPS Clerk 2020 Salary, Job Profile, And Growth ” will be clear to you now. Yet, If you have any query then comment below.

Have a good day!

Also, Check my latest post on Highest Salary Government Jobs In India After You Complete Your Graduation

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