The bank PO job has always been the choicest career option in India. The Bank PO salary is one of the major reasons for candidates to get into the banking domain apart from security, lucrative perks and allowances.Bank exams are gaining popularity among aspirants due to the benefits it offers. IBPS PO is the white-collar job and lakhs of aspirants are preparing for it.
IBPS PO Basic Pay: The revised basic IBPS PO salary structure (as per 10th Bipartite settlement) is rupees 23700 - (980 x 7) - 30560 - (1145 x 2) - 32850 - (1310 x 7) – 42020. It means Basic Salary of IBPS PO after 7 Years - Rs 30,560 Basic Salary of IBPS PO after 7 + 2 Years - Rs 32,850 Basic Salary of IBPS PO after 7 + 2 + 7 Years - Rs 42,020.
IBPS PO House Rent Allowance (HRA): It varies according to a place of posting and can be 9.0% or 8.0% or 7.0% of the basic salary depending upon the type of cities (i.e., metros, big cities or other locations).
IBPS PO Dearness Allowance (DA): Dearness Allowance (DA) is given to the employees as a percentage of the basic salary (In January 2016, it was around 39.8% of the basic salary). This is revised every three months based on the All India Consumer Price Index data published by the Ministry of Statistics and Program Implementation, Government of India. The Bank unions are determined to make it a monthly revision in the impending wage settlement.
IBPS PO Special Allowance (SA): This allowance has been included in the last wage revision for the banks. It is about 7.75% of the basic pay. It came into effect from 01.01.2016.
IBPS PO City Compensatory allowance: Based on the type of city, it might be 0%, 3% or 4%.
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