South Indian Bank PO & Clerk Salary 2022

South Indian Bank PO & Clerk Salary 2022

ByKanika Ralhan  |  Updated on: Feb 14, 2022Get acquainted with the South Indian Bank Salary for Clerk and PO post. Collect the details relevant to the SIB PO and Clerk Salary and know the additional benefits entitled to this post.
Get acquainted with the South Indian Bank Salary for Clerk and PO post. Collect the details relevant to the SIB PO and Clerk Salary and know the additional benefits entitled to this post.
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South Indian Bank, headquartered in Thrissur, Kerala, is a prominent private sector banking company. Almost every year, it posts a recruiting notice for Probationary Officers and Clerks. The South Indian Bank PO recruitment 2022 has officially been released, and all qualified individuals are encouraged to apply.

Candidates should familiarize themselves with the South Indian Bank salary scales for various positions before applying. The salary of a South Indian Bank PO and Clerk varies depending on their rank and post. Further, we will also go through the South Indian Bank PO and Clerk Salary Structure in detail for various roles.

 

South Indian Bank PO and Clerk Salary

Candidates who are selected for various South Indian Bank Recruitment 2022 positions will be paid as follows:

Posts

Salary

Clerk

IBA approved pay scale of ₹ 17900 – 1000/3 – 20900 – 1230/3 – 24590 – 1490/4 – 30550 – 1730/7 – 42660 – 3270/1 – 45930 – 1990/1 – 47920

Probationary Officer (PO)

IBA approved pay scale of ₹ 36,000 – 1,490/7 – 46,430 – 1,740/2 – 49,910 – 1,990/7 – 63,840

Lateral Probationary Officer (PO)

IBA approved pay scale of ₹ 36,000 – 1,490/7 – 46,430 – 1,740/2 – 49,910 – 1,990/7 – 63,840

 

South Indian Bank PO & Clerk Salary Perks

Apart from the salary that the candidates will receive, there are some other benefits that will be provided to SIB Clerk. These benefits include the following:

  • Dearness Allowance (DA): Dearness Allowance is a payment component that is a defined proportion of the basic salary and is used to offset the impact of inflation.
  • House Rent Allowance (HRA): Every year, the House Rent Allowance assists employees in receiving tax benefits toward the payment of their accommodations. The HRA is determined by the income and the city in which you live. HRA is not available to those who are rent-free or own their homes.
  • Telephone Bill Reimbursement: RReimbursements are the sums reimbursed to employees after they have incurred any expenses. Only when the employee claims the money spent is it reimbursed.

Candidates will be eligible for Performance Linked Incentives (PLI) and all other benefits as applicable to their respective posts.

South Indian Bank PO & Clerk Probation Period

Candidates who are hired as clerks at South Indian Bank will serve a six-month probationary period. During this time, the candidates' work will be monitored, and they will be hired on a permanent basis for the Clerk position.

During the training duration, candidates will be paid ₹ 3000/- per month for the first 8 months of classroom training and ₹ 15000/- for the next 4 months of internship.

South Indian Bank Salary FAQs

  • South Indian bank clerks have a starting pay of INR 23,700. However, in addition to the base salary, each month's Dearness Allowances are also given. The monthly in-hand salary for SIB Clerk personnel is the sum of the basic salary and dearness allowance.

  • The basic salary of a clerk is ₹ 17900 which gets incremented and the highest salary of a South Indian Bank Clerk is ₹ 47,920.

  • Candidates will be promoted based on their previous work experience and department tests. The South Indian Bank has the following promotion hierarchy for South Indian Bank Clerks:

    • Clerical Cadre
    • Junior Management Grade – Scale I: Probationary Officer’
    • Middle Management Grade – Scale-II: Manager
    • Middle Management Grade – Scale III: Senior Manager
    • Senior Management Grade – Scale IV: Chief Manager
    • Senior Management Grade Scale V: Assistant General Manager
    • Top Management Grade Scale VI: Deputy General Manager
    • Top Management Grade Scale VII: General Manager
    • Executive Director (ED)
    • Chairman and Managing Director (CMD)
  • South Indian Bank is a major private Bank having 924 Branches, 4 service branches and 20 Regional Offices spread across India.

PO, Clerk, SO, Insurance

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