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Bank PO Salary 2020 IBPS, SBI, ICICI (All Banks) – Pay Scale, Allowances

Bank PO Salary

The basic Bank PO Salary is Rs. 23,000 to Rs. 27000/-. In addition to basic Bank PO Pay Scale, the officers are also eligible for Dearness Allowance (DA), House Rent Allowance (HRA), CCA, special allowance etc. Check IBPS, SBI, ICICI and all Bank PO Salaries 2020 through this page.

Bank PO Salary

Working as a bank PO is not only prestigious but also come with lucrative salary, perquisites and other benefits. The salary of POs in al PSU banks is decided and revised by the IBA (Indian Banks Association) and UFBU (United Forum of Bank Unions).

All Banks PO Salary 2020:

IBPS Bank PO Salary:

IBPS PO Salary: Rs 23700/- (Basic Pay)

Increment in 4 stages

  • Salary after 1st Increment- Rs. 30560/-
  • Salary after 2nd Increment-Rs. 32850/-
  • Salary after 3rd Increment- Rs. 42020/-
Pay/ AllowanceMonthly SalaryYearly Salary
Basic Pay23,7002,84,400
Special Allowance1836.7522041
Transport Allowance00
Total (without HRA)37,107
Gross with HRA39,240
Medical Aid8000
Canteen Subsidy4004800
Pension Contribution250030000
Gross Annual CTC (with HRA but without leased accommodation)5,64,076

 Get Here: IBPS Notification

SBI Bank PO Salary:

SBI PO Salary: Rs 27620/- (Basic Pay)

Increment in 4 stages

  • 1st Increment- Rs. 23700-980/7
  • 2nd Increment-Rs. 30560-1145/2
  • 3rd Increment- Rs. 32850-1310/7
  • 4th Increment- Rs. 42020
SBI PO Basic PayRs. 27620/- (4 Increments also applicable)
Dearness Allowance (DA)46.9% of the Basic Pay (Revised Quarterly)
(CCA)This varies with the place of posting at 4% or 3%.
HRA9%, 8% or 7% (Depends on the place of posting)
Furniture AllowanceRs. 120000/-
Medical Insurance100% medical coverage for SBI employees and 75% for their family members
Travelling AllowanceFor official travels, reimbursement of AC 2-tier fare is provided
PetrolApprox. Rs. 1100-1250
SBI PO Gross Salary with HRA Total Compensation:  ₹7.55 lakhs and maximum of ₹12.93 lakhs depending on the place of posting and other factors.

 Check Latest Vacancies From: SBI Notification

ICICI Bank PO Salary:

Conveyance Allowance2,50030,000
Superannuation Allowance165019,800
Leave-Travel Allowance200024,000
Additional HRA312537,500
Total Bank PO Salary Per Month in India27,825333,900
PF and Gratuity2,23626,836
Total CTC(Cost To Company)30,061360,732
Performance linked retention policy#450054,000
Total Bank Probationary Officer Salary34,561414,732

 Check Out: ICICI Bank Recruitment

Syndicate Bank PO Salary:

Basic SalaryRs. 14500
Dearness AllowanceRs. 15964.50
CCARs. 540
HRARs. 1232.50
New Settlement AllowanceRs. 4835
Monthly Grand TotalRs. 37072

Get Here: Syndicate Bank Recruitment

Bank Of Baroda PO Salary:

AllowancesMajor A
Class Cities
Other Places
in Area I
Metro Cities(State Capital etc.)
Basic Pay14500.0014500.00
Dearness Allowance @ 99.9%14485.514485.5
CCA (3% to 4% Max. Rs 540/-)540.00375.00
Total Salary (Excluding HRA i.e. if Leased
Accommodation is availed by the officer)
Rs 29525.5Rs 29360.5
HRA – 8.5% ; 7.5%; 6.5%*Rs1232.50Rs 1087.50
Total SalaryRs 30758.0Rs 30448.0

Read Details Of: Bank of Baroda Recruitment

Axis Bank PO Salary:

  • According to current scale Probationary Officers are paid between Rs. 15,000 – Rs. 26,000. In addition to basic Axis Bank Salary, POs are also entitled to HRA and DA.
  • HRA given to the POs depends upon the place they are posting to.

Check Latest Vacancies From: Axis Bank Jobs

Dena Bank PO Salary:

Present Hike15%
Current Basic Dena Bank Salaries14500
Current DA % 109.815921
Current HRA % 6.5942.5
Current Gross Dena Bank Salaries31364
Current NPS Contribution3042.1
Current Net Dena Bank PO Salary28321

Canara Bank PO Salary: ( Check Latest Details From: Canara Bank Recruitment )

SalaryMajor A class cities :Metro CitiesOther places in Cat A Centers (State Capitals etc)
Leased House RentRs.12,500Rs.10,000
Travelling AllowanceRs.3,000Rs.3,000
News PaperRs. 250Rs. 250
Cleaning MaterialsRs.600Rs.600
Business Development ExpensesRs.300Rs.300
Medical AidRs.450Rs.450
TotalRs.17,100Rs. 14,600
Add 15 % increase in payRs. 2565Rs.2190
Gr TotalRs.19,665Rs. 16,790

Check Bank PO Salary Related Links:

IBPS PO SalaryDetails
SBI PO Salary StructureDetails
Axis Bank SalaryDetails
Dena Bank SalariesDetails
Bank Of Baroda PO SalaryDetails
Canara Bank PO SalaryDetails
IDBI Bank SalariesDetails
ICICI Bank PO SalaryDetails
Syndicate Bank SalariesDetails
Central Bank Of India SalariesDetails
City Union Bank Salary In IndiaDetails

Bank PO Salary after 7th Pay Commission:

As shown in below table, Bank PO will get current salary approx to Rs. 28000 per month. Recommended salary as per 7th pay commission is around 41000 per month. This seventh pay scale and initial salary is proposed salary.

Salary StructureAs per 6th Pay CommissionBank PO Salary After 7th CPC
Basic Pay (BP)Rs. 14,500Rs. 27, 865 (With 20% Increase)
Dearness Allowance (DA)Rs. 12,781Rs. 10,839
House Rent Allowance (HRA)Rs. 1,087Rs. 2,786
TOTAL / Gross SalaryRs. 28,368Rs. 41,490

Bank PO Salary and Allowances:

Dearness Allowance (DA): Dearness Allowance is cost of living adjustment allowance. It is given in all govt and public sector Probationary officers. This allowance is revised after three months and based on Consumer Price Index.

HRA: House Rent Allowance depends on place of posting so it can be either 9.0% or 8.0% or 7.0%. 10% HRA is given metro cities, 9% for population more than of 12 lakhs & Goa, for the population more than of 5 lakhs 7.5% and 7 % for other cities.

CCA: City Compensatory Allowance is also based on place of posting. It can be either 4% (maximum Rs. 870/-) or 3% (Maximum Rs. 600/-) or 0%.

Check Out: Latest Bank Salary

Bank PO Salary and Perks:

Check other main benefits payable on a monthly basis as a part of the salary of PO. You can check details here. In addition to Basic Pay, bank officers are eligible for the following allowances –

  • Good salary package
  • Medical facility
  • Healthy working environment
  • Comfortable working environment
  • Accommodation Facility
  • Easy loan available compare to other person.
  • No political pressure

Apply For: Latest Bank Jobs

Bank PO Salary Per Month 2020:

Probationary Officer is a starting level post of any officer in a bank. PO in Bank is the responsible and reputed post. With responsibility, banking sector also provide impressive salary and lots of other allowance like accommodations to the employee. Check Bank PO Salary Structure through this page.

Top Banks pay higher salaries to their POs to retain them for longer period and to produce efficient outcomes. Salary of PO in SBI and Bank of India are among the highest. They are paid well with other allowance. Bank of Baroda PO salary is also comes among highest in the banking sector to PO.

Something That You Should Put An Eye On

7th Pay Commission Salary CalculatorBank Exam Model Papers
Bank Exam PatternBank Placement Paper
Bank Online TestBank Preparation Material/Books
Bank PO Exam Preparation TipsBank PO Commonly Asked Questions

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