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Indian Overseas Bank Business Correspondent salaries in India (Updated 2025)

Annual salary range
1 - 5 years exp.
₹1 Lakh - ₹3 Lakhs
Salary of majority employees
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34% less than the average Business Correspondent Salary in Banking Companies for 1 - 5 years of experience

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Salaries in different departments

Sales & Business Development
Business Correspondent Salary
4 - 5 years exp. (3 salaries)
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₹1.5 L/yr - ₹2.4 L/yr

Customer Success, Service & Operations
Business Correspondent Salary
3 years exp. (AmbitionBox Estimate)
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₹1.4 L/yr - ₹2.5 L/yr

Last Updated: 11 Jan 2025

Companies similar to Indian Overseas Bank for Business Correspondent

Company name Avg Annual Salary Open Jobs
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₹1.5 L/yr - ₹3 L/yr

arrow icon 34% more
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Indian Bank Business Correspondent Salary

1 - 9 years exp. (8 salaries)

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₹1.2 L/yr - ₹3 L/yr

arrow icon 31% more
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IndusInd Bank Business Correspondent Salary

2 - 3 years exp. (5 salaries)

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₹2.5 L/yr - ₹3 L/yr

arrow icon 56% more
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₹1 L/yr - ₹3.3 L/yr

arrow icon 19% more
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IDFC FIRST Bank Business Correspondent Salary

2 - 12 years exp. (4 salaries)

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₹2.1 L/yr - ₹4 L/yr

arrow icon 68% more
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₹2 L/yr - ₹2.9 L/yr

arrow icon 27% more
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UCO Bank Business Correspondent Salary

5 - 6 years exp. (4 salaries)

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₹2.2 L/yr - ₹3.5 L/yr

arrow icon 49% more
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J&K Bank Business Correspondent Salary

5 - 15 years exp. (3 salaries)

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₹3.2 L/yr - ₹8 L/yr

arrow icon 229% more
Business Correspondent salary at Indian Overseas Bank ranges between ₹1 Lakh to ₹3 Lakhs per year for employees with experience between 1 year to 5 years. Salary estimates are based on 11 latest salaries received from various employees of Indian Overseas Bank.

Latest annual salaries shared by Indian Overseas Bank Business Correspondent

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2 years exp.
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5 years exp.
1y ago
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3 years exp.
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4 years exp.

Experience wise Indian Overseas Bank Business Correspondent salaries

Last Updated: 11 Jan 2025

Experience Avg Annual Salary
1 year (AmbitionBox Estimate)

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₹0.6 L/yr - ₹2.2 L/yr
2 years  (3 salaries)

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₹1 L/yr - ₹2.2 L/yr
3 years  (3 salaries)

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₹1.5 L/yr - ₹2.5 L/yr
4 years (AmbitionBox Estimate)

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₹1.5 L/yr - ₹2.4 L/yr
5 years (AmbitionBox Estimate)

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₹0.8 L/yr - ₹3 L/yr

Similar Designation salaries in Indian Overseas Bank

Sales Executive Salary
(AmbitionBox Estimate)
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₹1.8 L/yr - ₹2.3 L/yr
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₹3.6 L/yr - ₹4.6 L/yr
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₹3.2 L/yr - ₹4 L/yr
Team Lead Salary
(3 salaries)
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₹3.2 L/yr - ₹4.8 L/yr
Branch Manager Salary
(34 salaries)
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₹8 L/yr - ₹20 L/yr
Sales Manager Salary
(AmbitionBox Estimate)
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₹17.1 L/yr - ₹21.8 L/yr
MIS Executive Salary
(AmbitionBox Estimate)
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₹0.2 L/yr - ₹0.2 L/yr
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₹3 L/yr - ₹14.1 L/yr
Deputy Manager Salary
(4 salaries)
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₹10 L/yr - ₹12 L/yr

Salary related reviews for Indian Overseas Bank

2.4

Rated by 6 employees for salary & benefits

Full Time

 · 

BFSI, Investments & Trading Department

2.0
  •  posted on 10 Jun 2024

4.0
 for  Salary and Benefits

Likes

Salary at par and comes on time and some sense of job security.

  • Salary - Good
  • +1 more

Dislikes

Arguably one of the worst HR policies in PSBs, Where transfer postings are thoroughly weaponised, every now and then threats for transfer to 'Deep South' is reiterated to employees. No work life balance at all.

read more
  • Skill development - Poor
  • +4 more

Full Time

 · 

Security Services Department

2.0
  •  posted on 02 Nov 2024

2.0
 for  Salary and Benefits

Likes

Nothing

Dislikes

...ers who know nothing and have been given the responsibility of managing branch..salary not at par with the growing inflation. Inappropriate people who misuse their power and position..constant threats of transfer.. If you work in iob, then forget that you have any family..work for your ownself only..

read more
  • Salary - Poor
  • +4 more

Full Time

 · 

Customer Success, Service & Operations Department

1.0
  •  posted on 08 Sep 2023

1.0
 for  Salary and Benefits

Likes

Nothing to like, before joining i thought it will be my best decision but i regret.

Dislikes

... leave were cancelled and converted into Loss of Pay with retrospective effect. The bank ks extremely toxic, doesn’t want staff to grow, extreme level of politics in transfer and salary payments unlike other govt banks where they have transparency in salary payments. The bank is not following the IBA guidelines and suppressing the voice of employee who tries to expose their cunning behaviour. Newly joined POs are not left untouched from this blood boiling frustration, they are treated like Bonded Labours , I request if anyone who has just cleared IBPS to not even think of joining this pathetic bank in the rarest of their dreams, we are stuck here we don’t have any other way to have peace owning to our family responsibilities now. I hope the bank gets private asap so that at least some heed is paid to improve the pathetic condition of the management of Indian Overseas Bank (IOB).

read more
  • Salary - Bad
  • +6 more

BFSI, Investments & Trading Department

5.0
  •  posted on 08 Jun 2020

3.0
 for  Salary and Benefits

Likes

Thermal Screening Availability of hand sanitizer in office Social Distancing Job Rotation & Work from home as per State Govt Guidelines Timely Salary as usual Monetary compensation to purchase Covid related material like mask, sanitizer etc.

read more
  • Skill development - Excellent
  • +5 more

Dislikes

Salary is less as compared to workload

BFSI, Investments & Trading Department

4.0
  •  posted on 15 Jan 2019

3.0
 for  Salary and Benefits

Likes

One of the best parts of working in a Public sector bank is job Security.Salary is same for all psbs, perks are good.Feels very proud to be a part of the brand IOB as the developments and decisions made by the top management in the last couple of years in a very short time is really appreciable.Training is given almost every year,so you will be able to learn new things as well as roam new places.Good career growth opportunities are also there.

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  • Skill development - Good
  • +5 more

Dislikes

Transfer Policy is very bad.Especially on promotion you are expected to be thrown atleast 1000-1500 kms away from your hometown.In my case it is 1500 kms in a rural place in a different state where no hindi or English is there,so you have to face language problem. Some old policies are there which may demotivate the young people like no Jaiib Caiib increments for the promotees which violates the guidelines of IBA and also demotivates the staff not to take promotion.

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Indian Overseas Bank Business Correspondent Salary FAQs

What is the salary of Business Correspondent at Indian Overseas Bank ?
The average salary of a Business Correspondent at Indian Overseas Bank in India typically ranges from ₹1.0 Lakhs to ₹3.0 Lakhs per year, depending on experience (from 1 year to 5 years).

The top 10% of Business Correspondent at Indian Overseas Bank earn more than ₹2.7 Lakhs per year, and the top 1% earn over ₹3.0 Lakhs per year. Business Correspondent Salaries at Indian Overseas Bank can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 10+ Indian Overseas Bank employees in India.
What is the estimated take home salary of a Business Correspondent at Indian Overseas Bank in India?
The estimated take-home salary of a Business Correspondent at Indian Overseas Bank in India typically ranges from ₹11,882 to ₹13,180 per month. This is based on the average salary range of ₹1.0 Lakhs to ₹3.0 Lakhs per year for employees with experience ranging from 1 year to 5 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 10+ salaries received from various employees of Indian Overseas Bank. Check how we calculate in-hand salary with our in-hand salary calculator.
Which companies offer higher salaries than Indian Overseas Bank for Business Correspondent in India?
J&K Bank ₹3.2 Lakhs to ₹8.0 Lakhs per year
IDFC FIRST Bank ₹2.1 Lakhs to ₹4.0 Lakhs per year
IndusInd Bank ₹2.5 Lakhs to ₹3.0 Lakhs per year
UCO Bank ₹2.2 Lakhs to ₹3.5 Lakhs per year
Central Bank of India ₹1.5 Lakhs to ₹3.0 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by Indian Overseas Bank, depending on the role and experience level.
What is the salary of a Business Correspondent in companies similar to Indian Overseas Bank in India?
The salary of a Business Correspondent at companies similar to Indian Overseas Bank in India varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Indian Bank ₹1.2 Lakhs to ₹3.0 Lakhs per year
Bank of Maharashtra ₹2.0 Lakhs to ₹2.9 Lakhs per year
Union Bank of India ₹1.0 Lakhs to ₹3.3 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.
How the salary growth look like for a Business Correspondent at Indian Overseas Bank in India?
The salary growth for a Business Correspondent at Indian Overseas Bank depends on factors such as experience, performance, and promotions. On average, a Business Correspondent can expect the following growth trajectory at Indian Overseas Bank:

Experience Average Salary Range
1 year ₹0.6 Lakhs to ₹2.2 Lakhs per year
2 years ₹1.0 Lakhs to ₹2.2 Lakhs per year
3 years ₹1.5 Lakhs to ₹2.5 Lakhs per year
4 years ₹1.5 Lakhs to ₹2.4 Lakhs per year
and so on.

Tell us how to improve this page.

Indian Overseas Bank Business Correspondent salary in India ranges between ₹1 Lakh to ₹3 Lakhs with an average annual salary of ₹unlock blur. Salary estimates are based on 11 Indian Overseas Bank latest salaries received from various employees of Indian Overseas Bank.