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IBPS PO Salary 2021: In-hand salary, allowance, perks, and other benefits

Safalta Expert Published by: Deepesh Mehra Updated Thu, 16 Sep 2021 02:37 PM IST

Highlights

Get to know IBPS PO Salary here with Safalta. Also check out in-hand salary, allowance, perks, and other benefits. 
As per the official website of IBPS, the exam for PO will be conducted on 9th, 10th, 16th & 17th October 2021. The exam notification will be out any time soon. The candidates preparing for the exam must be aware of all the details related to the exam. One of the most important aspects that should be known to all is IBPS PO Salary and job profile. The salary and job profile can motivate you towards the last stretch of examination. The salary details are contained in the official notification, since this year's notification is yet to be released, the IBPS PO Salary details in this space are as per the previous year's notification. The updated IBPS PO 2021, salary has been decided on the basis of 11 th Bipartite Agreement in November 2020. The basic pay has been revised to Rs. 36,000 and the revised IBPS PO Salary has been made effective from November 2017. The pay scale and various allowances like dearness allowances, travel allowances, and other allowances are covered below. The salary of PO is lucrative and rewarding, if you are preparing for competitive exams and are looking for expert guidance, you can check out our monthly FREE Current Affairs Ebook- Download Now.
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IBPS PO Salary Structure 

The salary is as per the provisions of 7 th CPC. The increments and time of increments are decided by the banks. This means the PO will get a basic of Rs 36,000 with an increment of Rs 980 for the next 7 years, followed by a basic of Rs 42,860 with an annual increment of Rs 1145 for the next two years and so on. The initial salary is enumerated below.
 
Basic Pay                           Rs. 36000                   
DA Rs. 8,593.20
Learning Allowance Rs. 600
DA Others Rs. 1,552.50
HRA Rs. 3,240
Gross Salary Rs. 57,289.70
Net Salary /in-hand  Rs. 52,630.38

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The initial in-hand salary offered to an IBPS Probationary Officer is Rs. 52,000 to 53,000 


IBPS PO Allowances 

The Probationary officers working in various banks are eligible for a number of allowances. The allowances are not fixed, they are raised from time to time as per the need. The purpose of allowances is to secure against the rising cost of living and provide security against unforeseen medical expenses. The allowances given to IBPS PO are covered below.
  1. Dearness Allowance 
  2. City Compensatory Allowance(CCA)
  3. Medical Insurance 
  4. Furniture Allowance
  5. Travelling Allowance 
  6. Miscellaneous

IBPS PO Job Profile 

The job of a PO is one of responsibility and precision. They are responsible for day to day working of balks and customer support. They are often tasked to handle complex banking situations and grant loans or address the needs of customers. The detailed job profile of the PO is covered below.
  •  They verify various documents and proofs submitted by the customers

  • They are tasked with checking and approving checks.

  • They are responsible for the bank vault, various important documents, keys and work with core banking solutions.

  • They sanction the withdrawals by the customers

  • They give advice on financial matters, help in designing financial products etc.

 

IBPS PO Career Growth 

They get promoted either on the basis of seniority or clearing the departmental exams held by the bank. Work performance and dedication are crucial in ensuring promotion. The POs are promoted from time to time as per banks policy, their skills are also regularly updated from time to time. The various posts available on promotion are mentioned here.
  • Officer/Assistant Manager

  • Manager

  • Senior Manager

  • Chief Manager

  • Asst. General Manager

  • Deputy General Manager

  • General Manager

To know more read here 
IBPS Clerk Salary IBPS Clerk Eligibility Bank Po Salary  IBPS RRB PO Salary

IBPS PO Salary - FAQ

Q1 What are the exam dates for IBPS PO Exam?

A1 The exam dates for IBPS PO are 9th, 10th, 16th & 17th October 2021

Q2 What is the basic salary of Bank PO?

A2 The basic salary of Bank PO is Rs 36,000.

Q3 What is the probation period of Bank PO?

A3 The probation period of Bank PO is 2 years.

Q4 What are the basic allowances as part of Bank Po salary?

A4 The basic allowances as a part of Bank PO salary are dearness allowances, HRA, Travelling Allowances.
 

Disclaimer

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