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IBPS PO Perks and Allowances (Apart from Salary)
An IBPS Probationary Officer (PO) enjoys a range of attractive perks and allowances in addition to the basic salary, making it one of the most sought-after positions in the banking sector. These benefits not only enhance the financial value of the job but also contribute significantly to the overall job satisfaction and lifestyle of a bank PO.

✅ 1. Dearness Allowance (DA)
DA is revised quarterly based on the Consumer Price Index (CPI).

It typically amounts to around 36%–42% of the basic pay and helps manage inflation.

✅ 2. House Rent Allowance (HRA)
Depends on the city of posting:

9% of basic pay in metro cities

8% in semi-urban areas

7% in rural areas

If accommodation is provided by the bank, HRA is not given.

✅ 3. City Compensatory Allowance (CCA)
Offered to employees posted in metropolitan cities.

It ranges from 3% to 4% of the basic pay.

✅ 4. Special Allowance
This is a fixed component that enhances overall salary.

Currently around 7.75% of basic pay and is added after the 10th Bipartite Settlement.

✅ 5. Leased Accommodation / Quarters
Many banks offer leased flats or quarters, especially in metros.

Rent is paid by the bank within a permissible limit, reducing living expenses.

✅ 6. Travel Allowance
Reimbursement of official travel expenses.

Some banks also provide a fixed conveyance allowance or fuel reimbursement.

✅ 7. Medical Benefits
Fixed annual medical allowance.

Reimbursement of hospitalization expenses for self and dependents under group health insurance.

✅ 8. Leave Travel Concession (LTC)
Employees are eligible for LTC/LFC to travel within India with family, reimbursed by the bank.

✅ 9. Newspaper and Book Allowance
Some banks provide a monthly allowance or reimbursement for newspapers, magazines, or journals.

✅ 10. Pension and Retirement Benefits
After retirement, a pension scheme, gratuity, and PF contributions ensure financial security.

✅ 11. Miscellaneous Benefits
Job security, career growth opportunities, low-interest staff loans, festival advances, and welfare schemes are additional benefits enjoyed by IBPS POs.

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