NABARD Grade A Salary Details

The monthly gross salary of a NABARD Grade A manager is around ₹12 lakhs per annum, which is enough to lead a decent life in Mumbai. In addition to the gross salary, there are multiple allowances like HRA, medicine, household, furniture, petrol (highest in Mumbai), children’s education etc. These allowances further aid a Grade A officer in enjoying a decent standard of living.

While the exact rate of interest may vary, NABARD Grade A officers can get home loans at concessional interest rates of around 5.5%. This makes it easy for NABARD Grade A officers to build, repair or purchase their own house. 

NABARD offers rent-free accommodation to all its officers. If you have received accommodation from NABARD, you won’t get an HRA. However, in some cases, generally, because of the unavailability of accommodation, NABARD Grade A officers are entitled to an HRA of up to 25,000 per month.

Note. The exact amount you get each month as HRA may depend on the lease documents you submit.

Yes, NABARD Grade A officers get a group term insurance plan from the organization. This offers financial support to the officer’s family should anything unfortunate happen.

Yes. NABARD officers do get a pension. 

• Officers who joined after the implementation of the National Pension System (NPS) will receive their pension under the NPS. 
• Officers who opted for the earlier pension scheme will receive a fixed monthly pension based on their salary at the time of retirement. This pension amount is subject to periodic adjustments for DA to account for inflation.

In addition to the pension, a gratuity (lump sum) will be given to the officers when they retire, as a reward for their service.

Yes, NABARD Grade A officers receive full salary during their training period.

Yes, NABARD Grade A officers enjoy full salary and benefits packages during their probation period.

Here are some ways to increase your salary as a NABARD Grade A officer:

• Qualifying for the JAIIB and CAIIB exams can help you get two increments, adding to your current salary. 
• You can pursue higher studies and enhance your skills, allowing you to become eligible for specialized posts that come with additional monetary and other benefits.

NABARD Grade A officers get one increment of ₹2,500 for clearing JAIIB and another increment of ₹2,500 for clearing the CAIIB examination.

Yes, a NABARD Grade A officer can resign during probation. However, the officer needs to provide a 3 month’s notice before resigning. If the officer fails to give an advance notice, they’ll be liable to pay compensation to the bank, equal to the basic salary for the notice period they did not serve.