IBPS Clerk Salary 2024 (In-Hand Salary, Allowances & Growth Opportunities)

IBPS Clerk Salary 2024– The Institute of Banking Personnel Selection (IBPS) releases its exam notification for IBPS Clerk Examination 2024. The exam notification will contain IBPS Clark salary 2024 details along with other exam-related information. The basic salary of IBPS Clerk is Rs 19,900. 

The exam will be held to fill vacancies for clerical candidates in 19 participating public sector banks.  IBPS Clerk 2024 candidates will receive a decent IBPS Clerk salary if recruited after the final result. Moreover, there will be many opportunities for promotion and increments in the future. Candidates, before applying for the exam can have a look at the salary of IBPS Clerk 2024 in the article.

IBPS Clerk Salary 2024

The basic pay of IBPS Clerk salary 2024 is Rupees 19,900/-. The pay scale for first three years is 11765-655. The first increment of IBPS salary Clerk will be provided after 3 years.

In-Hand Salary of IBPS Clerk 2024

ParticularsSalary Breakdown
Basic payRs 19,900
House Rent Allowance (HRA)Rs 2039.75
Travel AllowancesRs 757.08
Dearness Allowance(DA)Rs 5209.82
Special AllowanceRs 4,118
TotalRs 29,453.67

IBPS Clerk Salary Slip sample image:

ibps clerk salary slip

IBPS Clerk Salary 2024- Increments in the Basic pay

IBPS Clerk Salary 2023 initial basic payRs 19,900 with a yearly increment of Rs 1,000 for three years
IBPS Clerk Salary 2023 basic pay after the first 3 yearsRs 20,900, with a yearly increment of Rs 1,230 for the next three years
IBPS Clerk Salary 2023 basic pay after the next 3 yearsRs 24,590, with a yearly increment of Rs 1,490 for the next four years
IBPS Clerk Salary 2023 basic pay after the next 4 yearsRs 30,550, with a yearly increment of Rs 1,730 for the next 7 years
IBPS Clerk Salary 2023 basic pay after the next 7 yearsRs 42,600, with a yearly increment of Rs 3,270 for the next year
IBPS Clerk Salary 2023 basic pay after the next 1 yearRs 45,930, with a yearly increment of Rs 1,990 for the next year
IBPS Clerk Salary 2023 basic pay after the next after next yearRs 47,920 (maximum pay)

Also know about

IBPS Clerk Salary 2024- Job Profile, Roles and Responsibilities

Along with the salary of IBPS Clerk, the job provides also provides opportunities for personal and professional growth. Clerks are an important part of any bank operation as they directly communicate with the customers. In other words, they are the link between the bank and its customers. IBPS Clerks are required to perform their duties in various departments like Data Entry, Accounts, Loan, etc for the smooth running of the bank. Following are the duties that an IBPS Clerk must perform-

  1. Updation of Passbooks
  2. Issuing passbook, cash receipts, etc.
  3. Resolving customer issues
  4. Informing customers about new bank schemes and government policies
  5. Sanctioning cash withdrawals
  6. Documents verification 
  7. Safe-keeping of important documents and bank cash
  8. Sanctioning cash withdrawals
  9. Maintaining balance sheets etc

Allowances of IBPS Clerk Salary 2024 

Along with the basic pay, there are several allowances made in the IBPS Clerk salary 2024 as given in the table below.

IBPS Clerk Salary Allowances

AllowanceMetro CitiesCities with More Than 5 Lakhs PopulationOther Cities
House rent allowance (HRA)8.5% of the Basic Pay7.5% of the Basic Pay6.5% of the Basic Pay
TravelRs 425/-
Special Allowance7.5% of the Basic Pay (increased by Rs 400 to Rs 500 after 3 years)
Dearness Allowance (DA)4% of the Basic Pay(Varies according to CPI after every 3 months)
Medical AllowanceRs 2000/- per year

IBPS Clerk Salary 2024- Promotion/Growth Opportunities

After working as a clerk for 2 years, IBPS Clerk candidates will get the opportunity to apply for Probationary Officers (PO) post. Probationary Officers are paid higher than the salary of IBPS Clerk 2024. Candidates can be promoted normally or on the basis of their merit. In the normal process, promotion will be given on the basis of seniority. Under the Merit-Based Process, candidates with JAIIB and CAIIB diploma from the Indian Institute of Banking and Finance will be promoted.

FAQs Related to IBPS Clerk Pay Amount

  1. What is the starting salary of IBPS Clerk?

    The basic salary of IBPS clerk ranges from Rs 19,000 to Rs 22,000.

  2. What is IBPS Clerk salary after 10 years?

    The expected salary of IBPS clerk may be around Rs 45000 along with other benefits.

  3. Apart from the money, what other benefits are given to IBPS Clerk?

    IBPS Clerk is eligible for DA, HRA, Medical, Travel, and Transport Allowances along with their basic pay.