Bank Exam » IBPS PO Salary 2023

IBPS PO Salary 2023

IBPS PO Salary 2023: Explore the updated IBPS PO Salary 2023. Learn about basic pay, allowances, and career growth prospects. Uncover the financial rewards of an IBPS PO career.

IBPS PO Salary

The new IBPS PO 2022 salary is based on the 11th Bipartite Agreement, which was signed in November 2020. The base salary has been increased to Rs. 36,000, with the updated IBPS PO Salary taking effect in November 2017. 

IBPS PO Salary Structure

Check the below-tabulated statistics for the updated compensation structure as per the 11th Bipartite Agreement, which was announced in November 2020.

IBPS Bank PO Salary Structure in India
Basic PayRs. 36,000
Special AllowanceRs. 5,904
Dearness AllowanceRs. 8,593.20
CCARs. 1,400
Learning AllowanceRs. 600
DA OthersRs. 1,552.50
Housing Rent AllowanceRs. 3,240
Gross SalaryRs. 57,289.70
Deduction (Tax & NPS)Rs. 4,659.32
Net SalaryRs. 52,630.38

IBPS PO Salary in India after the Bipartite Settlement

The 11th bipartite settlement agreed on a wage increase for bank workers in November 2017. The revised salary would be valid for five years, until 2022, or until IBPS revised it. The acceptance of the 11th bipartite settlement has benefited about 8.8 lakh employees. There is a provision for timely salary increases for IBPS PO officers.

IBPS PO Salary Perks and benefits

  • House Rent Allowance (HRA) for IBPS PO: It varies by location and might be ranging from 9.0% to 7.0% of the base pay depending on the kind of city, i.e., metros, large cities..
  • Dearness Allowance (DA): This is granted to employees as a proportion of their primary income (it was roughly 39.8% of the basic salary in January 2016, but it has been lowered to 23.87% as of November 2017). The All India Consumer Price Index Data provided by the Ministry of Statistics and Program Implementation, Government of India, is used to update this every three months. Bank unions are adamant about making it a monthly adjustment in the upcoming salary deal.
  • IBPS PO Special Benefit (SA): Special Benefit allowance was incorporated in the most recent bank salary adjustment. It is approximately 7.75% of the base salary. It went into effect in November 2017.
  • IBPS PO City Compensatory Allowance (CCA): Depending on the city, this might be 0%, 3%, or 4%.

Other benefits of an IBPS Probationary Officer include a Learning Allowance, Travel Allowance, Newspaper Reimbursement, Medical Aid, and benefits under the New Pension Scheme, among others. If we add everything together, the pay might be more than Rs. 52,000.

IBPS PO Responsibilities

IBPS PO is a prominent position in the banking industry that offers several incentives to workers. During probation, a Probationary Officer is taught various activities such as finance, billing, collection, accounting, revenue, investment, etc. They may also be expected to perform additional duties such as:

  • Respond to consumer inquiries
  • Maintain and monitor branch activity
  • Customer complaints, public relations, and problem resolution
  • Customer transactions daily
  • Loan(s) Processing Specifics
  • attract new customers to the financial institution

Eligibility for IBPS PO

According to the official release of the IBPS PO recruitment test, the following are the highlights of bank exam eligibility:

Age Limit20-30 years
Educational QualificationGraduation (Minimum)
  • Age Limit for IBPS PO

The IBPS PO exam has a lower and upper age limit of 20 years and 30 years, respectively. On the other hand, candidates from reserve categories receive an age reduction. It should be mentioned that the candidate must have been born on or after August 2, 1991, and before August 1, 2001.

  • IBPS PO Age Relaxation

IBPS gives reserved category applicants with age reservations. The following are the essential points for age relaxation per category:

CategoryAge Relaxation
SC/ ST (Scheduled Caste/ Scheduled Tribe)5 years
OBC (Other Backward Classes – Non-Creamy Layer)3 years
PwD (Persons With Disabilities)10 years
Ex-servicemen, Commissioned Officers (including Emergency Commissioned Officers (ECOs)/Short Service Commissioned Officers), and others (SSCOs). These applicants must have served at least 5 years in the military and been discharged upon completing their assignment, including those whose duty is due within a year.5 years
Persons affected by 1984 riots5 years
  • IBPS PO 2022: Nationality Requirements

Candidates that meet the following requirements are eligible to apply:

A citizen of India, a person of Nepal, a person of Bhutan, or a Tibetan refugee who arrived in India before to January 1, 1962, to permanently stay in India, or

An individual of Indian descent who moved to India permanently from Pakistan, Burma, Sri Lanka, East African countries Kenya, Uganda, the United Republic of Tanzania (previously Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia, and Vietnam.

  • Educational Criteria for IBPS PO 2022

The minimum bank PO qualification required to apply for IBPS PO openings is a graduation or equivalent degree in any field from a recognized university. The following are key aspects to remember before applying for the IBPS PO test 2021:

  • By August 2021, the candidate must have passed the qualifying test.
  • The date shown on the mark sheet/scorecard shall be considered the degree completion date.
  • At the time of the interview, a document demonstrating completion of the educational qualification criteria must be presented.
  • If the candidate’s results are posted on the University’s website, and a web-based certificate is produced, a suitable original certificate (signed by the relevant University authority) showing the date of passing the degree will be considered at the time of verification.
  • In the online application, candidates must state their graduation percentage to the nearest two decimals.
  • Candidates who have received a CGPA/OGPA must convert it to a percentage and include it in their online application.

Frequently asked questions

What is the starting salary for IBPS PO?

Answer: The new base salary of a bank PO is Rs. 36,000, effective November 2017.

Has the Dearness Allowance been amended under the 11th Bipartite Agreement?

Answer: The dearness allowance has been cut to 23.87%.

How much HRA does an IBPS PO receive?

Answer: It varies by location and might range from 7% to 9% of the base pay.

Is the IBPS PO salary revised over time?

Answer: Yes, the IBPS PO salary is subject to periodic revisions as per banking industry norms and government regulations.

What are the additional allowances provided with IBPS PO salary?

Answer: Apart from the basic salary, an IBPS PO receives allowances such as Dearness Allowance, House Rent Allowance, and Travel Allowance, which v...Read full

How does the IBPS PO salary increase with experience?

Answer: IBPS POs receive regular increments over time. The salary increases based on years of service, and the pay scale may go up with promotions....Read full

What is the highest salary an IBPS PO can achieve?

Answer: The highest salary of an IBPS PO depends on the pay scale and the number of years in service. With promotions to higher positions, the sala...Read full