Bank PO and officer salary structure,allowances and other benefits

Nationalised Bank PO and officers salary details(IBPS bank PO salary details)

Hey bank aspirants,You may be curious to know the latest salary structure, allowances and other benefits  of Probationary officer in PSU banks.Here we are sharing various perks that a Bank PO is eligible for. Apart from salary, other allowances and benefits are also given below.As you know salary of nationalized bank employees is determined by bipartite settlement between Committee of Indian Banks‟ Association (IBA) representing the managements of banks and representatives of employees  Associations.Last bipartite settlement(10th BPS) came into effective (Retrospective) from 1-11-2012 .Ministry of Finance has set the ball rolling for commencement of 11^th BPS and they have issued a notification to all the banks that are part of the process, advising them to complete the whole process well before the due date i.e. 1^st November, 2017.
Salary details of IBPS  bank PO is given below is based on 10th BPS.

Nationalized bank Officer latest salary structure and other benefits as per 10th Bipartite settlement

Scale of pay

23700->980(7)->30560->1145(2)->32850->1310(7)->42020

Officers in Scale-I, 1 year after reaching the maximum in their respective of scale, shall be granted further increments including stagnation increment(s) in the next higher scale subject to their
efficiency bar as per guidelines of the Government.
Increment accrues on an annual basis and shall be granted every year on the date mentioned in the Promotion proceedings.

House rent allowance

Major cities	9.00%
Area 1	8.00%
Other Places	7.00%

Dearness Allowance
DA payable is linked to Consumer Price Index
0.10% per slab over 4440 points
DA is revised on 1st Feb, May, Aug & Nov

Conveyance officers owning vehicle

		Metro	Area I	Area II	Area III
Four wheeler	Scale III	65 lit	60lit	55lit	50lit
Four wheeler	Scale I and II	45 lit	40 lit	35 lit	35 lit
Two wheeler	Scale I,II and III	45 lit	40 lit	35 lit	35 lit

Conveyance for officers not owning vehicle

	Metro		Area I	Area II		Area III
Scale I		Rs.1000	Rs.1000		Rs.800	Rs.800
Scale II		Rs.1100	Rs.1100		Rs.900	Rs.900
Scale III		Rs.1200	Rs.1200		Rs.1000	Rs.1000

*Conveyance allowance conditions changes from bank to bank.Some bank provides full conveyance allowance to Probationary officers owning vehicle,while some gives only minimum.




Rental ceiling for quarters.
(May slightly change from bank to bank )

	Scale I	Scale II	Scale III
Delhi, Noida, Ghaziabad , Gurgaon and Mumbai	20000	21000	22000
Bangalore,Chennai,Kokata,Hyderabad,Secunderabad Amedabad,Chandigarh,Faridabad,Pune	17000	17500	18000
State capitals,Area I placed with population of 10 lacs and above & port Blair	13000	13500	14000
All other places Goa except Panaji	11000	11500	12000
Area II(Population between 1 lac and 10 lac)	10000	10500	11000
Area II(All other area below 1 lac)	6500	7000	7500

Professional Qualification pay

• If you qualify JIIB you wiil be eligible for one increment 
• If you qualify CIIB ,then you will get another additional increment 

Medical Aid

• Rs.8000 per year 
• Rs.4 lac family insurance 

Business development fund

Scale-others	Branch incharge	POs
I=6000	Rs.7000	Rs.3000
II=7000	Rs.8000
III=8000	Rs.9000

Furniture allowance

• Upto 1 lac for Scale I(After confirmation) 
• 1.75 lac for scale II and III 

Festival advance

• One month gross salary 

Encashment of LFC(Leave Fare Concession)

• 9000km by A/c 2 tier or Rs.8720 per person(1+3 dependents)

 Lodging allowance

	Major	Area I	Others
Scale II&III	2400	1600	1200
Scale I	1600	1200	800

Halting Allowance

Delhi, Mumbai, Kolkata, Chennai	1300
Other major cities	1100
Area I	950
Other places	800

Newspaper allowance

• Bank officer will get a reimbursement of 90% of bill of a national/local daily

Sample salary slip of a Bank Probationary officer

Here is the salary slip of a Canara bank PO of August 2017. 

House rent/Quarters allowance,conveyance allowance,news paper allowance are not included in salary slip.They have to be claimed separately.

Hope you will find this information on bank PO and officer salary details useful.Shre it with other bank po aspirants.
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