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Indian Bank SO Salary 2024 In Hand Salary, Pay Scale and Job Profile

Indian Bank SO Salary 2024

Indian Bank is inviting applications to recruit Specialist Officers in various disciplines of four scale officers i.e. Scale I, Scale II, Scale III and Scale IV.  On 12 March 2024, it released a detailed notification and also started the Online Registration process, the applications will be accepted till 01 April 2024.

With the release of the notification, the Indian Bank also tells us the Pay Scales of the officers of various scales. Along with the Basic Pay Indian Bank Employees will be entitled to get various perks and allowances. Indian Bank SO Salary 2024 is one of the motivating factors for the aspirants to apply and ace the exam.

Indian Bank SO Recruitment 2024 Out- Check Details Here

Indian Bank Specialist Officer Salary 2024

Indian Bank SO Salary 2024 is the most discussed topic among the candidates aspiring for the examination. This year, the Indian Bank has announced 146 vacancies for the different posts of Specialist Officer. After the final selection, aspirants will be on probation for a stipulated period. In the given article, we have discussed the Indian Bank SO Salary 2024, Pay Scale, Job Profile, and Career Growth.

Indian Bank SO Salary 2024: Overview

An overview of Indian Bank SO Salary 2024 is discussed in the given table highlighting all the important points from the examination point of view.

Indian Bank SO Salary 2024
Organization Indian Bank
Exam Name Indian Bank Exam 2024
Post Various Discipline
Vacancy 146
Category Bank Job
Job Location All India
Selection Process Online Test & Interview
Application Mode Online
Official Website www.indianbank.in
Official WhatsApp Channel Join WhatsApp Channel
Official Telegram Channel Join Telegram Channel

Indian Bank SO Salary 2024 Annual Package

Candidates can check the annual package under the Indian Bank SO Salary 2024 for all posts, scale-wise in the following table.

Indian Bank SO Salary 2024 Annual Package
Officer Scale Annual Package
 Scale I Officer Rs. 4,32,000
Scale II Officer Rs. 5,78,040
Scale III Officer Rs. 7,66,080
Scale IV Officer Rs. 9,12,120

Indian Bank SO Salary 2024 Pay Scale

The Indian Bank SO Salary varies by scale therefore we have provided below the salary structure scale-wise. We have explained the pay scale which is given in the table below.

Indian Bank SO Pay Scale
Officer Scale Pay Scale
 Scale I Officer 36,000- 1490 (7)- 46430-1740 (2)- 49910- 1990 (7)- 63840
Scale II Officer 48170- 1740 (1)- 49910- 1990 (10)- 69810
Scale III Officer 63840- 1990 (5)- 73790- 2220 (2)- 78230
Scale IV Officer 76010- 2220 (4)- 84890- 2500 (2)- 89890

Indian Bank SO Salary: Scale I Officer

The basic pay that an Indian Bank SO Scale I officer gets initially is rupees 36,000. Then an annual increment of rupees 1490 will be received for 7 years. After 7 years of service, the basic pay will be 46,430. Then an annual increment of rupees 1740 for 2 years will be given after which the basic pay of Indian Bank SO in scale I will become 49,910. The maximum basic pay for an Indian Bank SO Scale I officer will be 63840 after 7 annual increments of rupees 1990.

Indian Bank SO Salary: Scale II Officer

The basic pay that an Indian Bank SO Scale II officer gets initially is rupees 48170. Then a single annual increment of rupees 1740 will be received after which the basic pay will be 49,910. Then an annual increment of rupees 1990 for 10 years will be given after which the basic pay of Indian Bank SO in scale II will become 69,810. The maximum basic pay for an Indian Bank SO Scale II officer will be 69810 after 11 years of service.

Indian Bank SO Salary: Scale III Officer

The basic pay that an Indian Bank SO Scale III officer gets initially is rupees 63840. Then an annual increment of rupees 1990 will be received for 5 years after which the basic pay will be 73,790. Then an annual increment of rupees 2220 for 2 years will be given after which the basic pay of Indian Bank SO in scale III will become 78,230. The maximum basic pay for an Indian Bank SO Scale III officer will be 78,230 after 7 years of service.

Indian Bank SO Salary: Scale IV Officer

The initial basic pay that an Indian Bank SO Scale IV Officer gets is rupees 76,010. An annual increment of rupees 2220 for 4 years is received by scale IV officers after which their basic pay will become 84890. A final increment of 2500 rupees will be given to Scale IV officers for 2 years and then the maximum basic pay will be 89890

Indian Bank SO Salary 2024: Perks & Allowances

Some various perks and allowances are included in the Indian Bank SO Salary 2024. The list of all the perks and allowances is given below

  • Dearness Allowance
  • City Compensatory Allowance
  • House Rent Allowance/Leased Accommodation
  • Leave Fare Concession
  • Medical Aid
  • Hospitalization Benefits
  • Retirement Benefits

Indian Bank SO Salary 2024: Probation Period

Candidates selected for Scale I posts in Indian Bank will be on probation for 2 years. Aspirants recruited for Scale II, III and IV posts will be on probation for 1 year. The probation period will start from the date of joining the bank as a specialist officer. Their confirmation in the Bank’s service will be decided in terms of the provisions of the Indian Bank Officers Service Regulations, 1979.

Indian Bank SO Salary 2024: Job Profile

The Job Profile of a Specialist Officer selected by the Indian Bank depends upon the post for which they are recruited in the bank. In General, we have discussed below the Indian Bank SO Job Profile 2024.

  • Manage the finances of the bank.
  • Approve or reject the loans
  • Communicate with the customers and make them understand the different schemes
  • Prepare the budget of the company
  • Analyze the organization

Indian Bank SO Salary 2024: Career Growth

Apart from the Indian Bank SO salary, there is a major scope for growth as a specialist officer. Indian bank provides opportunities for their employees to grow by providing a chance to climb up in the hierarchy through clearing departmental exams and interviews. These internal exams are conducted from time to time at regular intervals. Candidates can check below the Indian Bank SO career growth.

  • Scale 1 Officer
  • Scale 1 Assistant Manager
  • Scale 2 Manager
  • Scale 3 Senior Manager
  • Scale 4 Chief Manager
  • Scale 5 Assistant General Manager
  • Scale 6 Deputy General Manager
  • Scale 7 General Manager

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FAQs

What is the Indian Bank SO Salary 2024?

The Indian Bank SO Salary 2024 is given in the above article.

What is the career growth of Indian Bank SO?

The career growth for Indian Bank SO is such that the scale 1 officer can reach up to the post of scale 7 General Manager. Candidates can check complete career growth in the article above.

What is the basic pay of candidates selected for Scale I posts in Indian Bank?

Ans. The basic pay of candidates selected for Scale I posts in Indian Bank is Rs. 36,000.

What is the Probation Period for Scale II, III and IV posts employees?

Ans. The Probation period for Scale II, III and IV posts employees is 1 year. 

What are the perks and allowances included in the Indian Bank SO Salary 2024?

The perks and allowances included in the Indian Bank SO Salary 2024 are DA, CCA, HRA, etc.

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