Bank Clerk Salary 2020
Bank Clerk Salary 2020 – The banking sector is one of the sectors in India where most of the graduates are recruited in clerical as well as officer cadre. The banking job has always been the most demanded job by the aspirants no matter what their major subject was during graduation. Let us discuss the work profile and salary structure of various sector banks for the clerical position:-
SBI Clerk Salary 2020
The State Bank of India (SBI) is the largest and the oldest bank operating in India. The SBI recruits a large number of graduates as clerks in the bank and therefore, the clerk job is one of the most sought-after entry level jobs in the country. The SBI clerk is also known as the SBI Junior Associates, who works as SWO (Single Window Operator) wherein they look after the day-to-day activities of the bank. They deal with the customer’s problem, opening a bank account, issuing demand drafts, cheque book requests and can also work as cashiers.
In a metro city like Mumbai, the salary of an SBI clerk will be around 25, 000 Rupees including various allowances. The allowances vary from city to city (classified into various categories on the basis of the cost of living).
The pay scale of the SBI clerk will be 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31450.
This indicates that the starting salary of an SBI clerk will be 11, 765 Rupees with an annual increment of 655 Rupees.
The salary of an SBI clerk after 3 years will be 13, 730 Rupees with an annual increment of 815 Rupees and after another 3 years salary will reach up to 16, 175 Rupees with an annual increment of Rupees 980. The salary of an SBI clerk will reach 28, 810 Rupees after the next 7 years with a yearly increment of rupees 21, 020 Rupees. After 1 more year, it will be 30, 230 Rupees and will reach up to Rupees 31, 450 after another 1 year, which will be the maximum salary of the clerk of State Bank of India.
There are some other benefits and perks which will be provided to an SBI clerk apart from Dearness Allowance and House Rental Allowance. The benefits will be Stability of Job, Flexibility of Time, Financial Security, Good Work Environment, Medical Insurance, Pension under New Pension Scheme, Provident Fund, etc.
IBPS Clerk Salary 2020
The Institute of Banking Personnel Selection (IBPS) conducts the recruitment exam every year for the recruitment of clerks in various public sector banks. The IBPS clerk gets a decent salary and along with that, there are plenty of opportunities to learn and grow in this job. The IBPS clerk or single-window operator has to deal with day-to-day queries of customers and guide them through various formalities and solves various issues faced by them.
They can be allotted various departments of the bank as an Account Clerk, Loan Clerks, Data Entry Clerk, Office Clerk, etc. They issue the passbooks, verify the various documents and proof submitted by the customer, issues Demand Drafts, provides the information about the latest scheme, resolves the queries of the customers, etc.
The basic pay of an IBPS clerk is around Rupees 11, 765. The pay scale of an IBPS clerk is 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230/1310-1-31540.
This means the initial pay of an IBPS clerk will be 11, 765 Rupees and will increase up to 13, 730 Rupees after 3 years with an annual increment of 815 Rupees. After next three years salary of the clerk will become 16, 175 Rupees with 980 Rupees yearly increment and will reach up to 20, 095 Rupees after another 4 years with an annual increment of 11, 045 Rupees. The basic pay of the clerk after the 7 years will be 28, 110 Rupees with 21, 020 Rupees yearly increment and reach up to rupees 30230 with a yearly increment of Rupees 13 010 after next 1 year. The maximum basic pay will be rupees 31, 540 which will take another 1 year to reach up to.
The IBPS also cherish the various allowances like Dearness Allowance, Travel Allowance, House Rent Allowance, Special Allowance, Medical Allowance, etc. An IBPS clerk has to work at least for a time period of two years before they can apply for promotions.
Co-op Bank Clerk Salary 2020
The cooperative banks are owned by the members of cooperative societies whereas the commercial banks are owned by the shareholders. The cooperative bank mainly serves the small industry and self-employed workers in urban areas. These banks are registered under the Cooperative Society Act, 1912. These banks hold deposits, make loans and provide other financial services to cooperatives and member-owned organizations.
The salary of a cooperative bank clerk will be around 10, 000 Rupees per month during a training period of 6 months. Afterward, they will be hired at the minimum pay of Rupees 20, 221 per month.
Private Bank Clerk Salary 2020
Many private banks like HDFC Bank, ICICI Bank, Axis Bank, and Yes Bank recruits the aspirants for clerical cadre by themselves; however, the work profile for all the banks is more or less the same.
They have special recruitment programs wherein they recruit fresh graduates and then they are trained for at least one year. On average, a clerk in private sector bank like HDFC is paid 18000 to 20000 at the entry level with various allowances.
Hope this article helped you all to get some knowledge about the salary structure of clerks in various public and private sector banks. So, this is just the entry-level job in which you can grow professionally as well as financially by leaps and bounds. All it demands is dedication and hard work.
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