All About Probation and Bond Conditions in Public Banks

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All About Probation and Bond Conditions in Public Banks

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Attrition or the
reduction in
number of
employees
continues to be
one of the main
concerns for companies. To prevent
them from moving out quickly, IT
companies imposed some conditions for
new recruits.One among them was the
salary bond.With most public sector
banks also joining the list here we
explain the procedure

IBPS Specialist Officer CWE

2014 Eligibility, Selection &
Books

Before we move into the details of

bonds, there is an important stage that every newly appointed person has to go through:

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After getting selected in the interview & completing the formalities, you shall be posted in a
branch as a PO or clerk under probation & it lasts for,

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Probation

Probationary Officer : 2 years

Clerk: 6 months
It is here, candidates will get first hand experience on how a bank works.
They would be assigned various duties within the branch across departments.It may
include ledger maintenance, account operations, loan disbursal, cheque clearance,
draft issuance, document verifications etc.,
Such activities enable the newly appointed to know more about the daily banking
operations & acquire required skills.
At the end, candidates shall have their performance evaluated either through a test or a
simple interview or both.On successful completion, they will become confirmed
employees.
If a person`s record is unsatisfactory or not upto
the level, banks may terminate them but it rarely
happens.

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Bond

All those selected in interviews will have to sign a

service bond before joining. What does it specify?
Here are the main details..
Work in the bank for a minimum of 3 years
Rs.2 lakhs should be paid to the organization incase of breaking the bond.
What this means is,
you have to work in the bank for 3 years (includes probation) & if you choose to
quit the job within this period the earlier agreed amount must be paid before
leaving.

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The conditions of the bond varies for each bank with some fixing the minimum term as 2
years & the amount to be paid at Rs.1 lakh.
Corporation bank in its PO recruitment, wants selected candidates to furnish a bank
guarantee for Rs.50,000 or open a fixed deposit with the bank for the same amount.

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All About Probation and Bond Conditions in Public Banks

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As of now, there are no financial bond restrictions for clerical posts

Having known about the conditions, consider looking at the job profile of clerk & role of
bank PO
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55 comments
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Community
Deepak

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hi i passed the ibps po exam. but i completed my 21 years on 05-09-1990.

now the banks call for intreview with minimum age 21 years as on
01-07-2011. but in ibps written exam minimum age wag 20 years. who may
help us please suggest me.
thanks
28

Don_cnu

union bank ka date extend ho sakt ahai kay maine fee pay kiya but apply
karne me chuk hui,kya karoo help me

Ravi K

I don't think so
you lost your 200rs
3

Venki Subbu101

good evening .....

i am not qualified in IBPS PO Exam am i eligible for PO in union ,syndicate
banks
7

Rwilson852

kya bank mai manager k liye koi se subject se graduation chal sakta hai
5
Phani

sir ibps mentioned in notification age criteria is only 20 years as on

01-07-2011 but now banks are asking candidates should complete 21
years..does candidates of 20 years as on that date can't apply for these
posts
2

srikanth

is there any chance for indian nationals to get job in foreign(banks)

countries?

Bank Exams India

Admin

For getting jobs in foreign banks, you will have to contact that bank
directly & see if they have any vacancies or approach a overseas
job consultancy.
1

Rakesh Udenia

i go 134 score
a sc candidate
whats the expectation
3
Sumit

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