Exact monthly in-hand salary for IBPS after all deductions including PF, NPS, and income tax. Based on FY 2026-27 tax slabs and 7th Pay Commission / bipartite settlement.
Clerk (Clerical Cadre) - PNB, BOB, Canara, Union Bank
Rs. 3.80 LPA
Rs. 30,200
Full Salary Breakdown - IBPS Typical Pay (New Regime, Metro)
Basic Salary
Rs. 12,667/mo
HRA + Allowances
Rs. 19,000/mo
Gross Monthly Salary
Rs. 31,667/mo
NPS Contribution (10% of Basic)
-Rs. 1,267/mo
Professional Tax
-Rs. 200/mo
Income Tax (TDS)
-Rs. 0/mo
Monthly In-Hand (Take-Home)
Rs. 30,200/mo
New Regime vs Old Regime
New Tax Regime
Standard DeductionRs. 75,000
Annual TaxRs. 0
Monthly In-HandRs. 30,200
Old Tax Regime
Deductions AssumedRs. 1,50,000
Annual TaxRs. 0
Monthly In-HandRs. 30,200
About IBPS
IBPS Clerk is the clerical-grade recruitment conducted by the Institute of Banking Personnel Selection for 11 public sector banks including Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, and Bank of India. It is one of the largest government exam recruitment drives in India with millions of applicants every cycle.
How IBPS Salary is Structured
IBPS Clerk basic pay starts at Rs. 19,900 per month under IBA bipartite settlement. DA is approximately 46% of basic, adding Rs. 9,100/mo. HRA is Rs. 1,194 to Rs. 2,189 depending on posting bank and city. Special allowance of Rs. 2,054 and transport allowance of Rs. 750 per month are paid.
What Deductions Will You See?
Deductions include NPS at Rs. 1,990/month, professional tax of Rs. 200/month in applicable states, and negligible income tax under the new regime at this salary level. Total deductions are Rs. 3,000 to Rs. 4,500 per month.
IBPS Salary vs Other Government Jobs
Post / Role
CTC
Monthly In-Hand
IBPS Clerk (PNB, BOB, Canara)
Rs. 3.8 LPA
Rs. 28,000/mo
SBI Clerk
Rs. 4.0 LPA
Rs. 30,000/mo
RBI Assistant
Rs. 5.8 LPA
Rs. 39,000/mo
SSC CHSL LDC
Rs. 3.5 LPA
Rs. 27,000/mo
Increments and Promotions
Annual increments of Rs. 600-800 on basic pay. Clerks can write the internal promotion exam after 2-3 years to move to officer cadre (JMGS-I). Bank-to-bank transfer is not possible since each bank runs its own HR.
Career Progression and Salary at Each Grade
Grade / Post
Typical Timeline
Basic Pay
Approx. In-Hand
Clerk (Clerical Cadre)
0-3 years
Rs. 19,900/mo
Rs. 28,000/mo
JMGS-I Officer (via internal exam)
2-3 years+
Rs. 36,000/mo
Rs. 52,000/mo
MMGS-II Officer
7-9 years
Rs. 48,170/mo
Rs. 66,000/mo
Dearness Allowance (DA) Explained
DA under IBA bipartite settlement is linked to CPI and revised quarterly. Currently around 46% of basic, adding approximately Rs. 9,100 per month to gross.
City-Wise Salary Breakdown
City Type
HRA Rate
Gross Monthly
In-Hand Monthly
Metro - Delhi, Mumbai (X Class)
9% of basic
Rs. 33,000
Rs. 29,500
Large cities - Pune, Bengaluru (Y Class)
7% of basic
Rs. 32,000
Rs. 28,500
Semi-urban and rural (Z Class)
5% of basic
Rs. 31,000
Rs. 27,000
Perks and Benefits: What They Are Worth in Cash
Perk
Details
Estimated Cash Value
Staff Home Loan
Concessional home loans well below market rates - biggest financial benefit
Rs. 8,000-15,000/mo saving on a Rs. 40L loan
Medical Benefits
Coverage for self and dependents
Rs. 3,000-5,000/mo equivalent
NPS Employer Contribution
14% of basic contributed by bank to NPS corpus
Rs. 2,786/mo = Rs. 33,432/year
Annual Bonus
Performance-based annual bonus per IBA settlement
Rs. 10,000-25,000 per year
IBPS vs Private Sector: What You Gain and Give Up
What You Gain
+Job security with no layoffs
+Subsidized home loan benefit - saves lakhs over loan tenure
+NPS pension with 14% employer contribution
+Promotion path to officer cadre within 2-3 years
+Medical coverage for family
Trade-offs
-Pay is Rs. 1,500-2,000/mo less than SBI Clerk for same work
-Private bank teller or operations role pays less but with faster pay growth
-Transfers to rural branches are common
-Limited to one bank - cannot transfer to other PSBs
Frequently Asked Questions
IBPS Clerk in-hand salary is approximately Rs. 26,000 to Rs. 30,000 per month depending on the bank and posting city. Metro postings push take-home higher due to increased HRA.
All participating banks follow the same IBA bipartite settlement pay scale, so the basic and DA are identical. Minor differences exist in special allowances and local perks across banks.
Pay scale is Rs. 19,900 to Rs. 47,920 with annual increments over the service period.
Yes. IBPS Clerk employees can write the internal promotion exam in their respective bank after 2-3 years of satisfactory service to become officer-grade staff.