JK Bank Salary

JK Bank Salary 2020: Pay Scale, Allowances, Increments & Joining Details

Jammu and Kashmir Bank releases JK Bank Recruitment Notification for Probationary Officers and Bank Associates. If your dream is to join the banking sector then here is an opportunity. It is obvious for aspirants to check the J&K Bank Salary and we have provided the salary structure & other details here.

The basic pay of JK Bank is Rs. 23700/- followed by periodic increments. The salary structure also includes allowances and other benefits. In this article, we have provided all the details on JK Bank Salary 2020. Read on to find out!

JK Bank Salary, Allowances & Joining Details

Before going into the detail of JK bank Salary, let’s go through the overview of the JK Bank Exam:

Name of the Exam Jammu and Kashmir Bank Exam
Conducting Body Jammu and Kashmir Bank
Name of the Posts
    Probationary Officer & Bank Associate
Number of Vacancies 1850
Mode of Application Online
Mode of Exam Conduction Online
Number of Stages 3 stages for Bank PO & 1 Stage for Bank Associate
Job Location Jammu and Kashmir
Official website jkbank.com

JK Bank Salary: Probationary Officer & Bank Associate

JK Bank PO and Bank Associates salary structure consists of two major parts namely Basic Pay & Allowances. The basic pay is Rs. 23700/- and the allowances are calculated based on the basic pay. There will be increments periodically for both the posts. The detailed JK Bank Salary structure for both the bank posts are as follows:

JK Bank Probationary Officer Salary

The starting basic pay is Rs. 23700/- in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020 and other perks applicable to Junior Management Grade Scale-l.

Scale Basic Salary Payscale
JMGS – l Rs. 23700/- 23700-980/7-30560-1145/2-32850-1310/7-42020

A newly recruited Probationary officer will get Rs.23700/- as a Basic Pay per month. There will be an increment of Rs.980/- annually for the next 7 years. After 7 years, the Basic Pay will be Rs.30560/-. Thereafter, there will be an increment of Rs.1145/- annually for a period of 2 years. After the next two years, the Basic Pay will be Rs. 32850/-.  Then there will be an increment of Rs.1310/- per year for the next 7 years until the Basic Pay reaches Rs.42020/-.

JK Bank Salary: JK Bank PO Joining Details

Go through the JK bank Probationary officer joining details and guidelines from below.

  1. The selected candidates, at the time of joining, will have to execute a bond of Rs.5 Lakhs to serve the bank for a minimum period of 5 years.
  2. The bond will be invoked by the bank if the candidate resigns from the service of the bank before the completion of 5 years from the date of joining.
  3. On joining, the selected candidates will be designated as ”Probationary Officer” and will be on probation for a period of 2 years.
  4. During the probationary period, the candidates will be continuously assessed for their performance.
  5. The candidates who qualify in the assessment as per the standards determined by the bank will be confirmed in the service of the bank in Junior Management Grade Scale-l (JMGS-l).
  6. If any candidate fails to achieve the minimum standard stipulated by the bank, his/her services can be terminated.
  7. The J&K bank provides immense career growth opportunities including opportunities for posting outside J&k state.

CHECK DETAILED JK BANK SYLLABUS HERE

JK Bank Associate Salary

The starting Basic Pay for the post of JK Bank Associate is Rs.13075/- (with Two Advance Increments ) in the scale of 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540  and other perks applicable to bank associates.

Scale Basic Salary Payscale
JMGS – l Rs.13075/- (with two advance Increments) 11765-655/3-13730-815/3-16175-980/4-20095-1145/7-28110-2120/1-30230-1310/1-31540

For a newly recruited Bank Associate, the Basic Pay will be Rs.13075/- with two increments in advance. Thereafter, there will be an increment of Rs.815/- for a period of three years. Next, they will get an increment of Rs.980/- for the next 4 years. This will follow with an increment of Rs.1145/- for a period of 7 years. After that, they will get an increment of Rs.2120/-  for 1 year and RS.1310/- for 1 year until the Basic Pay reaches Rs.31540/-.

JK Bank Salary: JK Bank Associate Joining Details

Check the JK Bank Associate joining details and criteria from below.

  1. The selected candidates, at the time of joining, will have to execute a bond of Rs.2 Lakhs to serve the bank for a minimum period of 5 years.
  2. The bond will be invoked by the bank if the candidate resigns from the service of the bank before the completion of 5 years from the date of joining.
  3. On joining, the selected candidates will be designated as ”Banking Associates” and will be on probation for a period of six months.
  4. During the probationary period, the candidates will be continuously assessed for their performance.
  5. The candidates who qualify in the assessment as per the standards determined by the bank will be confirmed the service of the bank in Banking Associate.
  6. If any candidate fails to achieve the minimum standard stipulated by the bank, his/her services can be terminated.
  7. The J&K bank provides immense career growth opportunities including opportunities for posting outside J&k state.

CHECK DETAILED JK BANK EXAM PATTERN HERE

JK Bank Salary: Allowances

Apart from the Basic Pay, there is also  a provision for other allowances  such as:

  1. Dearness Allowance (DA)
  2. House Rent Allowance (HRA)
  3. City Compensatory Allowances (CCA)
  4. Travel Allowance
  5. Medical Allowance

To have a generalized idea of the allowance details, check the details below:

Allowances Details
Dearness Allowances (DA) The DA is revised quarterly based on the Consumer Price Index. This component of salary generally forms around 40% of the Basic Pay. Since CPI depends upon inflation rates, the DA can increase or decrease based on that.
House Rent Allowances (HRA) The HRA depends upon the job location. Based on whether the candidate is posted in metropolitan cities, big cities or other locations, the HRA can be 9%, 8% or 7% of the LIC AAO Basic Pay.
City Compensatory Allowances This too depends upon the job location and can be 4%, 3% or 0% of the LIC AAO Basic Pay.

The total JK Bank Salary for PO and Associates will be the sum of the Basic Pay and all these allowances.

We have now provided you with all the details regarding JK Bank Salary for the post of Probationary Officer and Bank Associate. Meanwhile, with the time available, start preparing for the JK Bank Exam. Prepare a study plan and follow it strictly. Also, take section-wise mock tests and revise the concepts regularly.