IBPS PO Salary In Hand: Check Grade Pay Scale, Basic Salary Slip, Allowances Per Month and Career Growth
The Institute of Banking Personnel Selection (IBPS) Probationary Officer (PO) position is one of the most desired jobs in the banking sector. With an attractive salary package, promising career growth, and exciting job profiles, it offers an excellent career opportunity. If you are aspiring to become a bank PO, understanding the IBPS PO salary structure, allowances, perks, and career progression is crucial to set clear expectations and plan your future effectively. In the successive paras, we have provided a detailed breakdown of the IBPS PO salary, including the basic pay, allowances, in-hand salary, salary slip, job profile, and career growth opportunities.
The revision of pay of bank employees is done every 5 years, the pay revisions in case of Officers of Bank is called Joining Note and for Clerical Staff it is called bipartite settlement. The pay revisions are agreed between Indian Bankers Association and the Officer’s Association for officers and Workmen Union in case of Clerical/Subordinate Staff. The latest revisions of pay and allowances were signed and released in March 2024; they are called 9th Joining note and 12th bipartite settlement. Accordingly, there had been changes that effect the pay and allowances, that every aspirant should know before making a choice of choosing IBPS PO as their future career. Details of these changes that effect IBPS PO salary and allowances are given below.
IBPS PO Salary: Basic Pay
The starting basic pay of an IBPS PO after implementing the 9th Joining Note agreement, the newly appointed candidate will be is get a basic pay of ₹48,480 per month. This basic pay forms the foundation of the total salary and increases with regular increments and promotions over time as per the Scale of Officer, details of which are given below:
Scales Officers | Basic Pay Band |
Scale I | 48480-2000/7-62480-2340/2-67160-2680/7-85920 |
Scale II | 64820-2340/1-67160-2680/10-93960 |
Scale III | 85920-2680/5-99320-2980/2-105280 |
Scale IV | 102300-2980/4-114220-3360/2-120940 |
Scale V | 120940-3360/2-127660-3680/2-135020 |
Scale VI | 140500-4000/4-156500 |
Scale VII | 156500-4340/4-173860 |
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IBPS PO Salary Structure/Salary Slip
The IBPS PO salary structure of newly recruited bank officer, comprises a combination of basic pay and various allowances, making the total compensation attractive. Key components include Basic Pay, Dearness Allowance (DA), House Rent Allowance (HRA), Special Allowance, and City Compensatory Allowance (CCA) based on the posting location. These allowances are designed to cover living expenses, inflation adjustments, and city-specific costs. Some allowances scale depends on the city in which you serve. Overall, the structured salary package ensures a competitive and rewarding pay scale for probationary officers. The IBPS PO Salary Structure is given below:
Pay Type | Amount |
Basic Pay | 48480 |
Dearness Allowance (DA) | 10277 |
House Rent Allowance (HRA) (10% Metro cities / 9% in area 1 Cities / 8% in Other places) | 4848 |
City Compensatory Allowance (CCA) (2300 in Area 1 Cites and 1900 in Cities) | 2300 |
Special Allowance (SA) [26.50% of the basic pay] | 12604 |
Fixed Personal Pay with DA | 2880 |
Learning Allowance (LA) | 850 |
Closing Allowance (1500 per quarter) | 500 |
Professional Qualification Pay | 1370 |
Location Allowance (NON-CCA Centers) | 1200 |
Hill and Fuel Allowance (For places with an altitude of 1000 meters and above but less than 1500 meters) | 1450 |
Gross Salary (Approx) | 86759 |
Deductions (Approx) | 7000 |
IBPS PO Net Pay (Approx) | 76756 |
Deductions: There will be standard deductions like Provident Fund (PF), Professional Tax, Income Tax, etc.
IBPS PO Salary In Hand
After adding all allowances and deducting taxes and other contributions, the in-hand salary of a newly appointed IBPS PO typically ranges between ₹70,000 to ₹80,000 per month. This figure varies based on the bank, location, and other perks provided.
IBPS PO Perks
Apart from the basic salary, IBPS PO enjoys several perks that enhance their compensation and work experience. Various type allowances for Bank PO if join as IBPS PO in a bank through IBPS are listed below:
- Health insurance and medical facilities
- Pension benefits
- Performance-linked incentives
- Leave travel concession
- Loan facilities at concessional rates
IBPS PO Allowances
IBPS PO salary comprises of the following allowances:
IBPS PO Salary – House Rent Allowance (HRA)
The HRA depends on the city of posting:
- Metro Cities: 10% of basic pay
- Class 1 Cities: 9% of basic pay
- Other Cities: 8% of basic pay
This allowance helps POs cover their accommodation expenses.
IBPS PO Salary – Dearness Allowance (DA)
The DA is a cost-of-living adjustment allowance, calculated as a percentage of the basic pay, and is revised quarterly based on inflation.
IBPS PO Salary – Special Allowance (SA)
The Special Allowance varies by bank and is added to the salary to compensate for additional job responsibilities and skills. In the 9th Joining note it is that 26.50% of the basic pay will be given as Special Allowance in IBPS PO Salary.
IBPS PO Salary – City Compensatory Allowance (CCA)
The CCA is paid to compensate for the higher cost of living in metropolitan cities and is applicable only if the PO is posted in such cities. IBPS PO salary is added with CCA of Rs. 2300 in Area 1 Cites and Rs. 1900 in other Cities.
IBPS PO Deputation Allowance:
Place | Rate and Limit |
Outside the Bank at place other than the present place of posting | 7.75% of pay – Max. ₹7500/- pm |
Outside the Bank at same place or Training Centres | 4.00% of Pay- Max. ₹3750/- pm |
IBPS PO Hill and Fuel Allowance:
Places | Rate and Limit |
Places with an altitude of 1000 meters and above but less than 1500 meters and Mercara Town | 2% of Pay, maximum ₹1450/- pm |
Places with an altitude of 1500 meters and above but less than 3000 meters | 2.5% of Pay, maximum ₹1900/- pm |
Places with an altitude of 3000 meters and above | 5% of Pay, maximum ₹3750/- pm |
Compensation on Transfer in IBPS PO Salary:
An officer on transfer will be eligible to draw a lumpsum amount for expenses related to packing, local transportation, insuring the baggage etc.
Scale | Limit |
Scale I, II and III | ₹40,000/- |
Scale IV and above | ₹50,000/- |
Apart from the above, either (a) 15 days lodging & boarding charges or (b) 15 days Halting allowance shall be paid from the date of joining at new place.
IBPS PO – Medical Aid Allowance:
IBPS PO are reimbursed a fixed Medical Aid allowance as per the Scale in which they are working, which is given below:
Scale | Limit |
Scale I, II and III | ₹13,000/-p.a. |
Scale IV and above | ₹15,400/-p.a. |
IBPS PO – Other Allowances:
Eye Check-up allowance:
All employees shall be allowed reimbursement of ₹500/- per year towards annual eye check-up
Recovery of House/Furniture Rent:
- House rent recovery shall be @ 0.35 % of the first stage of the scale of pay in which the officer is placed or the standard rent for the accommodation, whichever is less.
- Furniture rent recovery shall be @ 0.075% of the first stage of the scale of pay in which the officer is placed.
Officiating Pay:
An IBPS PO, who is officiating in a higher scale post for a minimum 4 days at a time or an aggregate of 4 days during the calendar month, shall receive an officiating pay equal to 15% of his basic pay on pro rata basis for the period for which he officiates.
Closing Allowance:
Closing allowance is paid at a rate of ₹1500/- per quarter payable to officers.
Mid Academic Year Transfer Allowance:
Mid academic year transfer allowances shall be payable at ₹2500/- p.m. per child with a maximum up to 2 children.
Leave Travel Concession (LTC):
During each block of 4 years, an officer shall be eligible for leave travel concession for travel to his place of domicile once in each block of two years. Alternatively, he may travel in one block of two years to his place of domicile and in another block of two years to any place in India by the shortest route.
IBPS PO Job Profile
The IBPS PO plays a vital role in branch banking operations. Their key responsibilities include:
- To ensure day-to-day smooth operation of bank
- Managing branch operations and resolving queries of their bank
- Handling customer service and queries
- Good public relations with the customers
- Managing cash transactions and accounts
- Loan processing and credit appraisal
- Supervising clerical staff
- Ensuring compliance with banking rules and regulations
- Looking for new opportunities that benefit the bank
- Reporting any unresolved grievances and issues to the higher authorities.
This role offers exposure to various banking functions, making it a great learning experience.
IBPS PO Career Growth and Promotions
IBPS POs have a clear career progression path, typically moving through the following stages:
- Probationary Officer
- Assistant Manager
- Branch Manager
- Chief Manager
- Deputy General Manager
- General Manager
In other terms the scale of the officers grows from Scale I to VII as they go up the promotion ladder. With experience and performance, POs can reach senior management roles in the banking sector. Promotions bring salary increments and greater responsibilities.
The IBPS PO position offers an excellent blend of a competitive salary package, comprehensive allowances, and promising career growth opportunities. With a well-defined job profile that encompasses a range of banking operations and responsibilities, it provides a strong foundation for building a successful career in the banking sector. Aspiring candidates should focus on thorough exam preparation, stay updated on the latest notifications, exam pattern and syllabus, and develop the necessary skills to excel in this role. To acquire these skills one must take good IBPS PO Coaching and focus on practicing IBPS PO Mock Tests, this will ensure that aspirant as ready for the upcoming IBPS PO exam. Securing an IBPS PO job not only guarantees lucrative IBPS PO Salary which gives financial stability and also opens doors to long-term professional development and advancement within the banking industry. Prepare smartly, stay consistent, and the rewarding career of an IBPS PO is well within your reach.
FAQ’s – IBPS PO Salary
Q1. What is the starting salary of an IBPS PO?
A1. The starting basic pay is around ₹48,480 per month, with total in-hand salary ranging from ₹70,000 to ₹80,000 depending on allowances and location.
Q2. What allowances does an IBPS PO receive in salary?
A2. IBPS POs receive allowances like DA, HRA, Special Allowance, Learning Allowance, and City Compensatory Allowance.
Q3. Is the IBPS PO job transferable?
A3. Yes, transfers are common, especially for career growth and organizational needs. They are compensated with various allowances in IBPS salary through transfer allowance, and Mid academic year transfer allowances.
Q4. What is the career progression of an IBPS PO?
A4. Career progression includes promotions from PO to Assistant Manager, Branch Manager, and up to senior managerial positions as General Managers.