IOB Specialist Officer Salary 2025 – Pay Scale, In-Hand Salary, Allowances & Career Growth
The IOB Specialist Officer Salary 2025 is one of the most competitive salary structures among public sector banks in India. Indian Overseas Bank offers an attractive salary package to its Specialist Officers (SO) appointed in various roles such as Information Technology, Credit, Risk, Treasury and other professional domains. The salary includes basic pay, dearness allowance, house rent allowance, special allowance, city compensatory allowance, performance benefits, and multiple banking perks.
The approximate IOB SO In-hand Salary 2025 ranges between ₹73,000 – ₹1,08,000 per month depending on posting location, grade, and allowances, while the total annual CTC may go up to ₹12.4 – ₹18.9 LPA including benefits and provisions. This article provides a complete breakdown of the IOB Specialist Officer salary, pay scale, allowances, perks, deductions, and career growth.
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IOB Specialist Officer Pay Scale 2025
The IOB SO salary structure is based on the following banking grade scales:
| Post/Grade | Pay Scale |
|---|---|
| Manager (MMGS-II) | ₹48,170 – ₹69,810 |
| Senior Manager (MMGS-III) | ₹63,840 – ₹78,230 |
The increments are applied based on years of service and annual performance review.
IOB Specialist Officer Gross Salary Calculation (Monthly)
The gross monthly salary includes multiple allowances in addition to basic pay. The calculation below is based on major metropolitan cities.
Manager (MMGS-II) Monthly Salary Structure
| Component | Amount (Approx.) |
|---|---|
| Basic Pay | ₹48,170 |
| Dearness Allowance (DA) | ₹18,900 – ₹20,500 |
| House Rent Allowance (HRA) | ₹4,200 – ₹12,000 (City dependent) |
| Special Allowance | ₹7,800 – ₹9,200 |
| City Compensatory Allowance (CCA) | ₹1,000 – ₹1,400 |
| Learning Allowance | ₹600 |
| Medical & Insurance Benefits | ₹2,500 – ₹3,800 (cash equivalent) |
| Gross Monthly Salary | ₹83,000 – ₹1,00,000 |
IOB Specialist Officer In-Hand Salary 2025 (After Deductions)
After PF, NPS, professional tax, and TDS deductions, the approximate in-hand salary is:
- Manager (MMGS-II): ₹73,000 – ₹88,000 per month
- Senior Manager (MMGS-III): ₹92,000 – ₹1,08,000 per month
IOB Specialist Officer Annual Salary (CTC)
The total approximate annual CTC is:
- Manager (MMGS-II): ₹12.4 – ₹15.2 LPA
- Senior Manager (MMGS-III): ₹15.8 – ₹18.9 LPA
Allowances and Benefits
- Medical Insurance for employee and dependents
- Reimbursement of telephone and internet bills
- Travel Allowance and Leave Fare Concession
- Furniture and household advance (optional)
- Education support for children
- Pension and retirement benefits
- Performance-based incentives
Lease Accommodation / Quarters
Instead of HRA, IOB SOs may opt for bank-leased accommodation where available. The compensation may vary by posting city.
IOB SO Salary Comparison by Posting Location
| Location Type | Estimated In-Hand Salary |
|---|---|
| Metro Cities (Delhi, Mumbai, Chennai, Bengaluru) | ₹85,000 – ₹1,08,000 |
| Urban Posting | ₹79,000 – ₹95,000 |
| Semi-Urban / Rural | ₹73,000 – ₹89,000 |
IOB SO Probation & Training Salary
The probation period is generally 2 years, during which officers receive the full salary and benefits except some allowances that may be restricted.
Career Growth and Promotions
Career progression for IOB Specialist Officers:
- Manager (MMGS-II)
- Senior Manager (MMGS-III)
- Chief Manager (SMGS-IV)
- Assistant General Manager (SMGS-V)
- Deputy General Manager (GM Scale)
- General Manager and Above
Frequently Asked Questions (FAQs)
What is the in-hand salary of IOB Specialist Officer?
The approximate in-hand salary of an IOB SO ranges between ₹73,000 – ₹1,08,000 per month depending on grade and posting location.
What is the grade pay of IOB SO MMGS-II?
The pay scale for Manager MMGS-II is ₹48,170 – ₹69,810 per month.
Does IOB provide accommodation facilities?
Yes, eligible officers may opt for leased accommodation or receive HRA depending on posting city and availability.
Conclusion
The IOB Specialist Officer Salary 2025 offers a competitive compensation package supported by multiple allowances, medical and insurance benefits, pension, and a strong promotion structure. Aspiring banking professionals looking for a stable and rewarding public sector banking career should consider applying for the IOB SO recruitment.