IDBI Bank PO Salary, Pay Scale After Revision, Benefits, and Perks
IDBI Bank PO Salary: IDBI Bank Ltd. (Industrial Development Bank of India) is one of India’s largest commercial Banks offering high Salaries to employees with various benefits and perks including Dearness Allowances (DA), House Rent Allowances (HRA), etc. With all these, it also provides a wide gamut of financial products and services encompassing deposits, loans, payment services, and investment solutions.
In this article, we will provide the IDBI Bank PO Salary. So, interested candidates who wish to apply for IDBI Bank PO Job must go through this article and get IDBI Bank PO Salary with PayScale details and Job profiles.
IDBI Bank PO Eligibility Criteria
Before going in detail discussion about IDBI Bank PO Salary, first, we will discuss eligibility criteria, mode of examination and exam pattern.
|Post||Essential Qualification||Age (Years)|
|Executive||A Graduate from a recognized university with minimum 60% marks (55% for SC/ST/PWD)||
Minimum – 20 Y
Unlike other bank exams, IDBI Bank Exam conducts single stage Written Exam and once you qualify this, you will be called for Document Verification & Pre-Recruitment Medical Examination. Based on this Written Exam only the Final Merit List is prepared for successful candidates.
IDBI Bank PO Exam Pattern
The selection process for IDBI Bank executive includes
- Online Written Test
- Document Verification & Pre-Recruitment Medical Test
Online written test
A candidate was shortlisted by IDBI Bank board based on their educational qualification. After selection candidates have to take the written test. The written test consists of the following sections:
|Sections||No. of questions||Max. Marks||Time Duration|
|Test of Quantitative Aptitude||50||50||Composite time of 90 Mins|
|Test of Reasoning||50||50|
|Test of Working English Language||50||50|
Except working English Language test all tests were conducted in both languages.
For every wrong response, there will be negative marking of 0.25 marks.
Minimum qualifying percentage for different categories
|Category||Min qualifying percentage|
- Applicants are expected to have proficiency in Computers.
- IDBI Bank also conducts Pre-Examination Training (PET) at various centers prior to the Online Test for candidates belonging to SC/ST or OBC category.
IDBI Bank PO Emoluments, Consolidated Remuneration, Career prospects, and Service Conditions
- The Executive will be appointed on contractual basis.
- The contract would be initially for a period of 1 year and this may be reviewed for an extension on a year-to-year basis for a further period of 2 years, subject to satisfactory performance, completion of assigned mandatory e-learning certifications and availability of vacancies.
- On successful completion of a period of 3 years of contractual service, such appointees may become eligible for appointment as Assistant Manager (Grade A‟) in IDBI Bank through a selection process that would be conducted by IDBI Bank.
The Executive will be paid a lump sum/fixed remuneration as per the following chart
₹17,000 per month in the first year,
Note: These executives shall not be entitled to draw any allowances such as DA, HRA, etc.
During the contractual period, the applicants can be posted at any branch or offices of the Bank as per the discretion and requirements of the Bank.
The appointment is purely contractual in nature, the appointee shall not be entitled to any superannuation benefits whatsoever.
Also, the appointee shall not be entitled to any gratuity and provident fund benefits.
However, the Executives would be covered under IBLNPS Rules, 2011.
IDBI Bank PO Salary in Details
|NPS Basic Bank||1440|
|NPS DA Bank||1704|
|Total||43553 before deduction in semi-urban areas.|
|Deduction||(1440 + 1704)*2 = 6288 (in NPS)|
|IDBI Bank in-Hand Salary||Rs. 37265/- (Rural + Semi-urban)|
Facilities Available To IDBI Bank PO
- The salary will be 40k in hand where the population is above 5 lakh approx, plus lease amount of approx. 10k in which HRA is deducted.
- By just paying 600/- month as a Lounge fee you will get lunch every day provided by the bank.
- LFC- 12500 every year.
- Medical 2500 every year.
- Vehicle insurance free.
IDBI Bank PO Salary Extra benefits
- When on a tour or in training you will get halting of 500/- per day.
- You can stay in anywhere in major cities by paying only Rs 10/- per day for a fully-furnished room.
- All official travel is allowed by 2AC to AMs.
- Holiday Homes available etc.
IDBI Bank PO Salary Perks & Other Benefits Like
- The allowances viz. Grade Allowance, Dearness allowance, Housing allowance, Special allowance on promotion, Fixed Personal pay are payable as per applicability and entitlement to all PO’s of the Bank.
- All officers on confirmation are also eligible for facilities like Housing Loan, Car Loan, COD (Clean Overdraft) & Festival Advance.
In this article we have discussed IDBI Bank PO salary in detail with examination pattern, eligibility criteria to get the clear picture to crack IDBI Bank PO recruitment examination. Along with that we have also discussed IDBI Bank PO Emoluments, various facilities provided to a PO during his career and afterward, Career prospects, Service Conditions.