Indian Overseas Bank Apprentice Salary 2025 and Pay Scale

Indian Overseas Bank has released the Apprentice Recruitment 2025 Notification for 750 vacancies, offering candidates an opportunity to gain banking experience. The Indian Overseas Bank Apprentice Salary 2025 is based on the branch category, with a stipend of up to ₹15,000 per month. The stipend varies for Metro, Urban, and Semi-Urban/Rural branches, with a portion contributed by the Government of India through DBT mode. However, apprentices will not be considered employees and will not receive additional benefits like DA or HRA.

Indian Overseas Bank Apprentice Salary 2025

The Indian Overseas Bank Apprentice Recruitment 2025 offers an opportunity for candidates to gain valuable banking experience while receiving a fixed stipend during their apprenticeship period. The apprenticeship program is for one year, and selected candidates will be paid a stipend based on their posting location. However, it is important to note that apprentices will not be considered employees of the bank and will not be entitled to regular employee benefits.

Note: This amount includes the subsidy provided by the Government of India.

Indian Overseas Bank Apprentice Stipend 2025 (Pay Scale)

The Indian Overseas Bank Apprentice Stipend 2025 is structured based on the branch category where the apprentice is posted. For apprentices, the bank’s contribution is lower, with ₹4,500 being directly credited by the Government of India through DBT mode. The stipend is paid monthly after deducting any unauthorized leave, but no additional allowances or benefits like DA, HRA, or medical insurance are provided.

IOB Apprentices Perks and Allowances

Candidates appointed as Apprentices in the Indian Overseas Bank will receive only the stipend mentioned above. However, apprentices will get an opportunity to gain valuable banking experience by working in different operational areas of the bank. They will not be eligible for additional perks or allowances such as:

• Dearness Allowance (DA): Not applicable
• House Rent Allowance (HRA): Not provided
• Medical Benefits: Not available
• Pension & Gratuity: Not covered under any pension scheme
• Leave Travel Concession (LTC): Not applicable

Job Profile of Indian Overseas Bank Apprentice

An apprentice in the Indian Overseas Bank will primarily assist in day-to-day banking operations and gain hands-on experience in customer service, account handling, and other essential banking functions. Apprentices will be posted in Metro, Urban, Semi-Urban, and Rural branches, where they will work under experienced banking professionals. Some key responsibilities include:

• Customer Service Assistance: Helping customers with account-related queries, passbook updates, and basic banking transactions.
• Data Entry & Documentation: Maintaining records of customer transactions and assisting in paperwork.
• Cash Handling Support: Learning about cash deposits, withdrawals, and fund transfers.
• Loan & Account Processing: Assisting in documentation and processing of loans and opening new accounts.
• Digital Banking Promotion: Guiding customers on digital banking services like mobile banking and net banking.