What is Probation and Bond Period in Banks?

A Probationary Officer (PO) in the bank is the starting level appointment for bank officers. The POs have a one or two

years probation period during which they are given exposure to various important functions of the bank such as Loans & Advances, Foreign exchange, Credit Rating, Treasury, Risk Management, Marketing etc... The probation period can also consider as the learning phase. Hence it is extremely important to be in good conduct, during probation. 

Banks have the right to terminate the employee during the probation, if he/she does not fit the position. As such, the probationary officer shall be required to work at 2-3 branches during the probation period.

Probation Period for PO –  1 or 2 year

Probation Period for Clerk – 6 months

Bond and It's Duration
All the selected candidates need to sign a Service bond with the Bank compulsorily in order to get complete the section process.

What is Bond?:  A written and signed promise to pay a certain sum of money if you do not fulfilled the terms and condition of the company.

Why Bank Ask for Bond?  Bond contains many conditions but the main condition is that you have to serve the Bank for a minimum period of years including the Probationary Period otherwise candidate has to pay the specified amount and relieve the Bank.

Duration of Bond:

For Po: Duration of the bond varies for each bank  it can be of 1, 2 or 3 years.

For Clerk: As of now, there are no financial bond restrictions for clerical posts.

Can I break Bond? Yes, you can. But be aware that you have to pay the Bond amount before leaving.  

What this means is?

You have to work in the bank till your bond duration period (includes probation) & if you choose to quit the job within this period – the earlier agreed amount  must be paid before leaving.

What if I complete the Bond Period?

The Term Deposit with the Bank will closed and you are free to resign from the services of the Bank if you want to leave the bank. 

Duration of Probation and Bond Period for PO in Public Sector Banks
Bank	Probation Period	Bond Duration	Bond Amount
List of Banks which have Probation of 2 years and Bond Duration of 3 Years
Allahabad Bank	2yrs	3 yrs	Rs. 1,00,000
Andhra Bank	2 yrs	3 yrs	Rs. 2,00,000
Bank of India	2 yrs
Indian Overseas Bank	2 yrs	3 yrs	Rs. 1,00,000
Punjab & Sind Bank	2 yrs	3 yrs	Rs. 50,000
Dena Bank	2 yrs	3 yrs	Rs 1,50,000
Union Bank of India	2 yrs	3 yrs	Rs. 2,00,000
United Bank of India	2 yrs	3 yrs	Rs. 1,00,000
Vijay Bank	2 yrs	3 yrs	Rs. 2,00,000
Punjab National Bank	Na	3 yrs	Rs. 2,00,000
List of Banks which have Probation of 2 years and Bond Duration of 2 Years
Indian Bank	2 yrs	2 yrs	Rs. 1, 00,000
Canara Bank	2 yrs	2 yrs	25,000
Syndicate Bank	2 yrs	2 yrs	Rs. 1,00,000
UCO Bank	2 yrs	2 yrs	Rs. 2,00,000
Bank of Maharashtra	1yr	2 yr	Rs. 1,00,000
Corporation Bank	2 yrs	2 yrs	Rs. 50,000
Central Bank of India	2 yrs
Oriental Bank of Commerce	2 yrs
List of Banks which have Probation of 1 years
IDBI Bank	1yr
Bank of Baroda	1 yr
ECGC	1 YR	3 yr	3 months salary
Blank space indicates those banks have not show this detail in the notification.