IBPS Clerk Salary 2020

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IBPS Clerk 2020: Institute of Banking Personnel has released a notification for the recruitment of 1561 vacancies of IBPS Clerk 2020 Notification which is scheduled in December 2020 & January 2021. Here you will get the full salary structure of IBPS Clerk Salary so that your preparation can be as strong as required to get selected.

As the Indian Job Market is shrinking as the government is taking some harsh decisions that in turn reflect in the shortage of jobs. And the unemployment rate is growing and people are getting unemployed day by day.

Before applying for the recruitment, candidates required some information about the vacancy like what would be the IBPS Clerk Salary, or should they try with more efforts to try in IBPS PO.

IBPS Clerk Notification & Exam Date – Apply Online


IBPS Clerk Salary 2020

As you know that salary is not just the combination of Basic Pay and Dearness Allowance (महंगाई भत्ता). There are a lot of other things that is included in the salary slip.

As I am working in The Largest Bank of India, I actually know what type of allowances are included in the salary slip. When I joined the bank I was not so happy with the salary structure of the banking system, but after some time now I am happy with the benefits of banks and the salary also.

FacilitiesAllowance (INR)
Basic Pay13075
Dearness Allowance10133
House Rent Allowance (HRA)1153
Transport Allowance425
Special Allowance1064
Total25850

Some of the part of the salary will be deposited in your Provident Fund and National Pension Scheme (NPS) so the salary would be about 23000 and some other allowance.

Petrol Allowance Of IBPS Clerk Salary

FacilitiesAllowance (INR)
Petrol Allowance25 Liters
Entertainment Allowance600
Newspaper Allowance360
Total960 + Petrol

If you consider petrol as 80 Rs per Liter then it would be around 2000 Rs.

Total IBPS Clerk Salary 2020 would be almost around 28810 Rs.


Other Allowances of IBPS Clerk

There are so many roles in a Bank, As there is a Branch Manager, Accountant, Cash Officer, Teller, etc. And as per your working capability, your allowances can differ. I am working as Cash Officer and there is also an allowance for that as well. This is my first Salary Slip.

IBPS Clerk Salary

But after working as a cash officer the salary of a banker can be good enough as you can see that in the image right below. Arrears of earning is the other allowances that I am getting.

IBPS Clerk Salary

After the 11th Bipartite Settlement, you can imagine some hike in the salary. As of now IBPS Clerk Salary After 11th Bipartite Settlement would be 4000-5000 more than what you are getting now.


IBPS Clerk Or SBI Clerk – Which Is Better ?

As working in the Largest Bank Of India, I would suggest you to consider SBI Clerk over IBPS Clerk. But if you got selected in the PO vacancy of any Government Bank over SBI Clerk then go with the PO jobs is my suggestion. There are so many differences between both of them. We will now discuss about it one by one-

  • There is a huge difference in the accounts of any other government bank or SBI as SBI manages almost 45 Crores of account so you can imagine the crowd of the branches.
  • The crowd is considered good because it opens the opportunity for the bankers to spread their products or services to their customers.
  • As SBI has its own Product like SBI Life Insurance, SBI General Insurance, SBi Credit Card so many times it is like a burden to the bankers to promote the bank’s products with their regular banking.
  • Frankly speaking that Other Government Banks are not so overcrowded, so it not fully relaxed but in some way, it is a much-relaxed job that SBI.
  • As working in any banking industry you will get the Banker’s benefits definitely like – HOME LOAN, CAR LOAN, BIKE LOAN, PERSONAL LOAN, GOLD LOAN, and many more facilities.
  • I always love baking because of the benefits of bankers.

Benefits of Being a Banker

Working in a bank can be beneficial for you in many ways as there are so many allowances than it appears in the salary slip. Purchasing a home is almost everyone’s’ dream and everybody wants to purchase their own home and working in a Bank can be beneficial for you.

  • Home Loan For IBPS Clerk is around 40 Lacs.
  • Car Loan For IBPS Clerk is around 6.5 Lacs.
  • Bike Loan For IBPS Clerk is around 1 Lac.
  • Personal Loan For IBPS Clerk could differ from bank to bank.

IBPS Clerk Apply Online – Registration / Login


FAQ

  1. Full Form Of IBPS?

    Institute of Banking Personnel is the full form of IBPS.

  2. IBPS Clerk vs SBI Clerk

    1. There is a huge difference in the accounts of any other government bank or SBI as SBI manages almost 45 Crores of account so you can imagine the crowd of the branches.
    2. The crowd is considered good because it opens the opportunity for the bankers to spread their products or services to their customers.
    3. As SBI has its own Product like SBI Life Insurance, SBI General Insurance, SBi Credit Card so many times it is like a burden to 4. the bankers to promote the bank’s products with their regular banking.
    5. Frankly speaking that Other Government Banks are not so overcrowded, so it not fully relaxed but in some way, it is a much-relaxed job that SBI.
    6. As working in any banking industry you will get the Banker’s benefits definitely like – HOME LOAN, CAR LOAN, BIKE LOAN, PERSONAL LOAN, GOLD LOAN, and many more facilities.
    I always love baking because of the benefits of bankers.

  3. IBPS Clerk Salary vs SBI Clerk Salary

    The total initial pay of a bank clerk will be 25000-28000 as you can read the article. SBI Bank Clerks get 2000 extra compared to other banks, hence the total initial pay is 27000-29000.

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