Indian Overseas Bank is One of the Top most Banks Recruiting Clerks by offering suitable salary packages

Clerks working in Indian Overseas Bank are paid between Rs. 19K – Rs. 21K per month along with the dearness allowance, HRA and transport allowance

Rs.19K – Rs.21K

In Addition to Basic Pay, Clerks in Banks are eligible for the following allowances :-

(a) Dearness Allowance (DA) : DA in banks is revised on quarterly basis (i.e. in the months of February, May, August and November) based on the CPI as declared by Government of India. The current DA (for the month of May 2015; June 2015, July 2015 has been fixed at 33.70% of the Basic Pay). DA can go up with higher inflation and also come down if the inflation rate is in negative.

(b) Special Allowance : This has been added in 10th BPS (wef 01/11/2012) for clerks it 7.75% on which DA is also payable

(c) HRA : This depends on the place of posting and it can be either 10% or 9% or 7.5% depending on the place of posting.