The salary structure for Probationary Officer (PO) Post in Bank of India which makes its recruitment through IBPS (Institute of Banking Personnel Selection) is as follows:

IBPS PO 6 Salary details 2017 – 2018

Basic Pay 23700.00
Special Allowance 1836.75
DA 10163.63
CCA 870
Transport Allowance –
Total (without HRA) 36570.38
HRA 2133.00
Gross with HRA 38703.38
Medical Aid 8000
Entertainment 500
Newspaper 300
Petrol 3000
Telephone 400
Canteen Subsidy 400
Pension Contribution 2500
Gross Annual CTC (with HRA
but without leased accommodation) 5,57,640.52


IBPS Bank PO Salary and Allowances

1. Dearness Allowance (DA) –
It is a cost of living adjustment allowance paid to all govt and public sector Probationary officers.
It is revised on a quarterly basis and based on Consumer Price Index (CPI). Calculation of DA depends on inflation.
DA can go up with higher inflation and also come down if the inflation rate is in negative.

2. HRA –
This depends on the place of posting, and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.

3. Special Allowance –
This will add in 10th BPS (wef. 01/11/2012) and for Scale, I 7.75% on which DA is also payable

4. CCA –
This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%

5. Conveyance Allowance –
It is paid for commuting between home and office.

Other Benefits and Perks Available to Bank PO

• Leased Accommodation –
This service is available to Bank officers instead of HRA. It also varies from bank to bank and depends on upon the place of posting. Some banks may offer official bank accommodation/ bank quarters instead of leased housing.

• Travelling Allowance –
Most of the banks give a fixed Traveling Allowance and reimbursement of petrol bills.

• Medical Aid –
An amount also attached for your medical needs (Revised price is Rs8000/- p.a.)

• Newspaper Reimbursement:
A fixed monthly amount is pay towards the cost of one newspaper

• Coverage under New Pension Scheme