The Institute of Banking Personnel Selection would conduct the IBPS Clerk exam 2018 to recruit candidates for clerical posts in government banks across the country. Working as an IBPS Clerk would not give you a secure job but it would also give you a great pay package. So what would be your IBPS Clerk Salary after you get selected? In this article, we would be talking about the IBPS clerk salary 2018 and all the other important things that you need to know about it.
What is the IBPS Clerk Salary in Hand?
One of the first things that most of the candidates ask is that what is the IBPS Clerk Salary in Hand? Well, the IBPS Clerk Salary depends on a number of factors. One of the biggest factors is the place where you would be posted. The following table gives the details your IBPS Clerk Salary in hand.
|Facilities||Places with Population > 45 lakhs||Below 45 Lakhs|
|CCA||Rs. 0/-||Rs. 0/-|
|Total (without HRA)||Rs.18413.37/-||Rs.18413.37/-|
|Gross with HRA||Rs.19589.87/-||Rs.19472.22/-|
This would be your starting IBPS Clerk Salary 2018. The salary would increase every year as you would get an increment every year. On top of that, you would get promotions in due time, which would increase your salary even higher.
The Allowances for IBPS Clerk Salary 2018
As you can see from the table above, IBPS Clerk Salary has a lot of allowances. Let us take a look at the allowances and see what they are all about.
- Dearness Allowance (DA): In most PSU banks, DA is revised quarterly and is based on CPI as declared by the banks i.e. DA can go up with higher CPI. However, it’s rare that the DA goes down if the CPI takes a dip.
- House Rent Allowance (HRA): This varies according to your place of posting. And it can be 8.50%, 7.50% and 6.50% depending on metros, big cities, and other locations.
- Medical Allowance: This allowance is paid annually. In IBPS Clerk Salary, it is fixed at Rs 2000.
- Transport Allowance (TA) – It is also an additional amount of IBPS Clerk take home salary.
We would like to point out that there can be slight differences in the allowances depending on the bank. However, you can rest assured that the difference would not be substantial.
Expected IBPS Clerk salary after the 11th Bipartite Settlement
The Indian Banking Association (IBA) and the bank employee are currently undergoing discussions to increase the salary of banking professionals. Now, there are multiple rates that are being discussed. Let us see how your IBPS Clerk salary would increase after the 11th Bipartite Settlement.
As per the latest announcements, the IBPS clerk in-hand salary would be Rs 19, 461 and the gross salary would be Rs. 21, 990. The salary would also increase after the Pay Commission reviews.
So, these are some of the things that you should know about the IBPS Clerk Salary. We hope that you found the article to be useful. You can also check out the following articles for more information on IBPS Clerk exam 2018.