Federal Bank Clerk Salary 2021

The Federal Bank is one of the prestigious banks which has digitized all its branches in the private sector. The Federal bank has released the official notification for the submission of the application form by the candidates who are interested in the post of Clerk and announced the vacancies for the post. Those candidates who are eligible for the post can apply without any delay. The federal bank is offering a golden opportunity for all those candidates who wish to work in the banking sector. Along with the high salary, the employees will be also be given additional benefits, allowances and bonuses. Those candidates who are wondering about the salary structure and career opportunities can keep reading this article for a better understanding of the aspirants.

Click here to receive the latest mock test and sample questions on bank exams!

Federal Bank Clerk Notification: An Overview

Salary of the Federal Bank Clerk 2021

Those candidates who wish to know about the federal bank clerk salary can read this article. The candidates are advised to visit the official site and know everything about the post of clerk before applying for the post. The proposed criteria including educational qualification and age limit should be understood by the aspirants.

Federal Bank Clerk Pay Scale 2021

Here is the salary structure of the federal bank clerk. Those candidates who wish to apply for the post of clerk must know the pay scale of the clerk.

• The basic salary structure of the candidates working in the federal bank in the post of the clerk is Rs 13,075. Along with the basic salary structure, allowances and bonuses will be awarded to the clerks accordingly. The candidates who wish to work in the banking sector should give importance to the pay scale provided by the federal bank.
• The annual increment for the probationary officer is Rs 665 for the three consecutive years.
• The basic salary for the probationary officer is Rs 11,765.
• The basic pay will be. And so, after seven years, the Basic Pay will be Rs 13,730 for the employees.
• The annual increment of clerks will be Rs 815 for the next 3 years there will be an annual increment of Rs 1145 for the next seven years and the pay scale after the next two years will be Rs 16,175.
• The Basic Pay after that will be Rs 28,110.
• The annual increment of Rs 2120 for the next year will be hiked by Rs 30,230.
• The basic pay scale after seven years will be Rs 31,540. Along with the basic pay scale, bonuses and allowances will be given to the federal bank clerks. The job opportunity will enhance the living standard and the working environment of the candidates.

Attempt a mock test and grab the mock test series for the upcoming bank exam!

Federal Bank Clerk Salary: Other Allowances

The allowances of the candidates along with the bonuses is given below. The dearness allowances, house rent allowances, city compensatory allowances, medical allowances and other allowances will be given to the federal bank clerks along with the basic pay scale.

Dearness Allowance (DA)

• The DA is calculated on the Consumer Price Index
• The DA is revised quarterly. Based on inflation, it can be increased or decreased

House Rent Allowance (HRA)

• The HRA is calculated based on the posting location.
•  It is either 7, 8 or 9 per cent of the Basic Pay, the payment will be based on the location.

Medical and Other Allowances

• Medical allowances and additional allowances will be given as per the government rule.

City Compensatory Allowance (CCA)

• The CCA depends upon the job location
• The CCA is  0, 3 or 4 per cent of the Basic Pay.
• It varies according to the job location.

The minimum Federal Bank Clerk Salary along with the other elements is Rs 3.99 lakhs per year and the maximum clerk salary per year is Rs 4.41 lakhs per year. The salary structure can depend upon the location of the job.

Federal Bank Clerk Roles & Responsibilities

Here is the list of the responsibilities that should be fulfilled by the federal bank clerks

The responsibilities include:

• Deal with the customers at any time
• Provide customer support
• Help with customer services.
• Check and verify KYC norms of the reserve bank of India(RBI).
• Help customers with opening bank accounts, issuing chequebooks, etc.
• Reminding the customers about the regulations, schemes and policies of the bank
• Informing customers of various rules, and policies related to banking.

The benefits offering by the federal bank is comparatively high. The candidates who wish to crack the exam should prepare well for the 2 phased selection process. The first phase of the selection process includes the online aptitude test whereas the second phase comprises the group discussion and personal interview. If you wish to grab the job, prepare for the upcoming exam with the complete syllabus and exam pattern. Make sure to choose the best study materials and authentic notes to score better. Start preparing now!

Check here for the recent updates on the Bank Exams!