IOB Apprentice Salary 2026: Check Stipend Per Month, Contract Period

The IOB Apprentice Salary 2026 details have been updated on this page. The Indian Overseas Bank is conducting an apprentice recruitment. Candidates who are selected for the IOB Apprentice job will get a fixed stipend for a one-year contract period. Check this page to know complete details on the Indian Overseas Bank Apprentice Stipend, government subsidy, payment process, and benefits. 

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IOB Apprentice Salary 2026

Indian Overseas Bank Apprentice salary per month details are given here.

• Metro Branch - Rs. 15500 stipend per month.
• Urban Branch - Rs. 14500 stipend per month.
• Semi-Urban / Rural Branch - Rs. 14000 stipend per month.

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

The bank will make payment as detailed below for candidates selected under NATS. 

Check IOB Apprentice Syllabus and Exam Pattern 2026

.Note: Government share of stipend is Rs. 6150/- 

Check IOB Apprentice State wise Vacancy List 2026

Apprentice Stipend Payment Process:

• The apprentice receives their monthly stipend into their bank account.
• If an apprentice takes any unapproved leave, their stipend will be reduced.
• Rs. 6150 will be directly credited to your bank account (Direct Benefit Transfer) by the Government of India.
• And the Remaining amount is paid by the bank.
• The apprentices are not eligible for any other allowances/benefits. 

  Contract details:

• Candidates who are selected for an apprenticeship, paid Stipend will be provided for the contract period of One Year.

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FAQs

Q1. Is an apprentice a permanent job?

No, an apprenticeship is not a permanent job; it is 1-year  -training program under the Apprentices Act of 1961.

Q2. Will IOB Apprentices get PF, gratuity, or pension benefits?

No. Apprentices are not eligible for PF, gratuity, pension, or other employee benefits. 

Q3. Can the IOB Apprentice stipend be deducted?

Yes. If an apprentice takes unauthorised leave, the stipend may be reduced accordingly. 

Q4.. Can the IOB Apprentice stipend change in the future?

Any revision in the stipend will depend on the bank's official notification and Government guidelines. 

Q5. Are NATS Registrations mandatory to receive the stipend?

Yes. To participate in the program and process your stipend smoothly, you must first register on either the National Apprenticeship Promotion Scheme (NAPS) or the National Apprenticeship Training Scheme (NATS) portal before completing your main application.