Institute of Banking Personnel Selection (IBPS) is a selection body for banking sector in India. Those aspirants who are focusing to make their career in banking sector, have dreams to clear IBPS exam. IBPS Probationary Officer (PO) is a one of the prestigious and most sought career in India in the field of government job. The reason behind this is the in hand salary, lucrative perks, better future prospects and respect in the family & in the society. Every year larger number of banking aspirants give their best to get the tag of largest public sector bank of India. Let see the salary structure of the IBPS PO, which is the major reason for the large number of applicants.
IBPS PO Salary Structure
| Period | IBPS PO Basic Salary | Increment |
|---|---|---|
| Basic Pay | Rs 27620/- | |
| Every year for first 7 years | INR 23700/- | 980 |
| Every year For the next 2 years | INR 30560/- | 1145 |
| Every year for Another 7 years | INR 32850/- | 1310 |
| INR 42020/- |
IBPS PO Allowances
- House rent allowance :- For rural area posting Rs 8000/-(Minimum) and For urban area posting Rs 29500/-(Maximum) and The bank pays rent directly to the owner of the house.
- Allowance for OPD treatment (Non hospitalisation)- The PO can claim bills of upto 2k per month for OPD treatment.
- Dearness Allowance- Officer will get 46.9% of the basic pay.
- City Compensatory Allowance(CCA)- Officer will get 3% to 4%(depending on the location of the posting)
- Medical Insurance- 100 percent coverage for the employee and 75 percent coverage for the dependent.
- Furniture Allowance- 1.20 lakhs plus GST ( For electronic furniture it’s 60 thousand plus GST which is reinstated after 3 years and for non- electronic it’s 60 thousand plus GST which is reloaded after 5 years.)
- Furniture maintenance allowance – 11 thousand If you taken at least 1/3rd of furniture allowance.
- Travelling Allowance- The bank will reimburse upto AC-2 tier ticket for only official purpose.
- Petrol allowance- 45 to 55 litres based on the location of your posting.
- Entertainment allowance – 3 thousand in every three month.
- Loan Benefits- Employee of IBPS will eligible for the loan based on simple interest.
- Miscellaneous- Around 4000/-
IBPS PO Salary Chart
| Category | Amount |
| Basic Salary | 24680/- |
| CCA | 870 |
| DA | 15908.560/- |
| HRA | Depending on Posting Location |
| Miscellaneous Payment | 4390/- |
IBPS PO Salary Deductions
| Category | Amount |
| PF (10% of Basic) | 3966/- |
| NPS (10% of Basic+DA) | 5020.8 |
| Income Tax | As Per Govt. Norms |
Total IBPS PO Salary In Hand after Deductions
- Salary before deduction- 41109/-
- Salary After Deduction- 46218/-
IBPS PO Annual Package
The minimum cost to company (CTC) 8.2 lakhs and maximum CTC is 13.08 lac,. The variation totally depends on the place of posting
IBPS PO Job Profile | IBPS PO Work
The Aspirants Who Crack This Prestigious Exam Joined bank as Probationary Officer. Initial Two Years of Joining They Go Under the Training and Learn the Functioning of Various Department of Banks.
- During the training PO get different types of activities to be familiar with banking and banking culture. They also give training in various department like Marketing, Billing, Accounting and Investment, Finance etc.
- After completion of two year training officer either join as an assistant manager or deputy manager, its totally depends on performance during training.
- Officers are responsible for certain management task like as verification of documents, supervising the work of bank staff, management of cash, new developments in the banking sector, handling and addressing the customer complaints, issue of Cheque, ATM cards etc.
- Once the officer gain some experience he/she will responsible of budgeting, processing of loan, planning and management related task, Marketing etc.
IBPS PO Salary 2024 Joining, Training & Career Path
Along with handsome salary and allowances, there are immense opportunities to grow. The promotion in bank is fast as compared to others government job. After completion of two year training, candidates need to give a confirmation exam. I he/she performed good, he/she directly join as scale-2 officers i.e. deputy manager else he/she join as scale-1 officer i.e. assistant manager.
- Assistant manager
- Deputy manager
- Manager
- Chief manager
- Assistant general manager
- Deputy general manager
- General manager
- Chief general manager
- Deputy general manager
- Managing director
- Chairman
