IBPS PO Salary 2026: Basic Pay, Current DA and an Illustrative Monthly Gross

A candidate selected through IBPS PO joins a public sector bank as a Probationary Officer in Junior Management Grade Scale I (JMGS-I). Central Bank of India's joining notice for the CRP PO/MT-XV batch uses that title. Pay for this grade does not come from IBPS. It is set by the wage settlement between the Indian Banks' Association (IBA) and the bank officers' unions: the 12th Bipartite Settlement and the 9th Joint Note, signed on 8 March 2024 and effective from 1 November 2022.

This guide covers the basic pay scale, the allowances that sit on top of it, the dearness allowance (DA) rate in force now, and a worked example of a month's gross pay. Every figure is traced to a bank or union document listed under Sources.

IBPS PO basic pay: the JMGS-I scale

The Scale I pay scale is written as:

48480-2000/7-62480-2340/2-67160-2680/7-85920

Read it from left to right:

• You start at a basic pay of Rs 48,480 a month.
• Seven yearly increments of Rs 2,000 take you to Rs 62,480.
• Two increments of Rs 2,340 take you to Rs 67,160.
• Seven increments of Rs 2,680 take you to the top of the scale, Rs 85,920.

The same scale appears in recent JMGS-I recruitment notices from Union Bank of India, Indian Overseas Bank and Punjab National Bank, and in Central Bank of India's table of officer pay scales. The 9th Joint Note also gives officers who complete CAIIB two extra increments.

What is added to basic pay

The 9th Joint Note sets these allowances for officers:

The DA rate in force now

Bank DA is revised every three months. Under the 9th Joint Note it moves by 1% of pay for each point by which the quarterly average of the All-India Consumer Price Index for Industrial Workers (base 2016=100) is above 123.03.

For August, September and October 2026, AIBEA's circular of 31 July 2026 gives the average index for April to June 2026 as 150.86. That is 27.83 points above 123.03, so DA is 27.83%. For comparison, AIBEA's circular for February 2026 gave 25.00%.

The rate for November 2026 to January 2027 depends on the July to September 2026 index. It had not been published when we wrote this on 28 October 2026. Look for the IBA order or the union circular in early November.

Illustrative monthly gross (before deductions)

Step by step:

1. Basic pay: Rs 48,480
2. Special allowance: 26.50% of 48,480 = Rs 12,847.20
3. DA base: 48,480 + 12,847.20 = Rs 61,327.20
4. DA: 27.83% of 61,327.20 = Rs 17,067.36
5. HRA: 8%, 9% or 10% of 48,480 = Rs 3,878.40, Rs 4,363.20 or Rs 4,848.00

Add CCA (Rs 1,900 or Rs 2,300) or location allowance (Rs 1,200), and learning allowance (Rs 850 plus DA), to get closer to a real figure.

Why we do not quote an in-hand figure

In-hand pay is gross pay minus deductions. The deductions include the pension contribution, income tax under the regime you choose, professional tax where your state levies it, and any loan or housing recoveries. If the bank gives you leased housing, you do not receive HRA as cash. All of these change from person to person. Any single in-hand number you see online for IBPS PO is an estimate, so ask the bank's HR team or check your first pay slip.

Probation and service bond

IBPS PO selects you, but the bank that takes you sets your probation and bond terms. Recent JMGS-I notices give an idea:

• Probation: the Union Bank and Indian Overseas Bank Local Bank Officer notices for 2025-26 set probation at 2 years of active service. IOB adds that confirmation is decided by the bank under its officers' service regulations.
• Bond: the Union Bank and IOB notices ask for a service indemnity bond of Rs 2,00,000 for a minimum of 3 years of service.

These terms differ from bank to bank, so read your allotted bank's joining notice and appointment letter carefully.

Promotion ladder

A Probationary Officer starts in Scale I. Above it, the officer grades are:

Each bank follows its own promotion policy. Eligibility depends on years of service in the current scale, performance ratings and the bank's internal process, and vacancies limit how many people move up each year. We have not listed a timeline because none of the source documents gives one. The special allowance also rises with grade: 28.30% of basic pay in Scales II and III, 30.50% in Scales IV and V, and 31.50% in Scales VI and VII.

Other benefits

The bank notices and the 9th Joint Note mention these, in general terms:

• Leave fare concession for travel with family
• Medical aid and medical insurance
• Retirement benefits, as per the bank's rules
• Leased accommodation or bank quarters in place of HRA, where the bank provides them
• Allowances for transfers and official travel

Amounts and conditions vary by bank, so treat this as a checklist of things to ask about, not a promise.

Getting there

The salary only matters if you clear Prelims first. Read the IBPS PO prelims syllabus 2026, then take IBPS PO Full Mock 1, free to see where you stand in each section. More mocks and guides are on the IBPS PO page.