SBI PO Salary Structure
To serve as an Officer in Banking Industry, Probationary Officer (PO) is the first and foremost ladder that every bank aspirant needs to climb.So, candidates want to enter as Probationary Officer in State Bank of India must check SBI PO Salary Structure from here.
Here on this page, you will get the complete details about SBI PO Salary in Hand and promotion journey of SBI PO.By going through the below part of this, you will come to know about the SBI Bank PO salary After 7th CPC and the allowances which a PO gets in his working career.
To select capable contenders against the post of Probationary Officer, the organization conducts preliminary exam/ mains exam/ personal interview/ GD round. On the basis of individuals’ overall performance, they will get selected against SBI PO Recruitment.
Entire details about SBI PO Salary Structure 2019 are structured below by the team of recruitmentresult.com, take a look and come to know about SBI PO salary in hand.
SBI PO Salary Structure
What is starting salary of SBI PO?
Individuals who have decided to apply for SBI PO Recruitment 2019, must know that the starting basic pay for SBI PO is Rs. 27,620/- (with 4 advance increments). The pay scale is Rs. 23700-980/7- 30560-1145/2-32850-1310/7-42020.
What is the salary of SBI PO in hand?
The in-hand salary of SBI PO now is approximately Rs. 42,000 in metros. After the wage revision, one can expect a 15-20% increase in the in-hand salary. The total SBI PO Salary per year will be a minimum of Rs 8.20 lakhs and maximum of Rs 13.08 lakhs (depending on the place of your posting and other factors).
Bank Salary After 7th Pay Commission: Get Details
What is the basic salary of bank PO?
The basic pay of a PO is Rs. 23,700. With 4 advance increments that SBI provides, the basic pay will be Rs. 27,620. POs can increase their basic pay by clearing exams such as JAIIB and CAIIB.
What is the eligibility for SBI bank PO?
SBI PO Eligibility Criteria includes education qualification, age limitations, relaxation in age etc as mentioned below:
SBI PO Educational Qualifications
- Applying candidates should possess Degree of Graduate in any discipline from a recognized University or any equivalent qualification recognized as such by the Central Government OR
- Students in Final Year/Semester of their Graduation provided they produce proof of having passed the graduation examination on or before 31-08-2018 OR
- Aspirants with Integrated Dual Degree (IDD) certificate, provided date of passing the IDD is on or before 31-08-2018 OR
- Individuals possessing the qualification of Chartered Accountant.
SBI PO Age Limit:
- Minimum Age – 21 years
- Maximum Age – 30 years
SBI PO Age Relaxation:
- SC/ST – 5 years
- OBC (Non Creamy Layer) – 3 years
- PwD (SC/ST) – 15 years
- PwD (OBC) – 13 years
- PwD (Gen) – 10 years
- Ex-Servicemen, Commissioned Officers with 5 years’ service completed and released – 5 years
- Jammu & Kashmir domiciled during 01.01.1980 to 31.12.1989 – 5 years
Get Here: SBI PO Eligibility Criteria
SBI Bank PO Salary:
- Basic Salary = Rs. 27620
- Dearness Allowance = Rs. 12677
- City Compensatory Allowance (CCA) = Rs. 870
- Special Allowance = Rs. 2140
- Total Earning Before Deductions = Rs. 43307
- PF (10% of Basic) = Rs. 2762
- NPS (10% of Basic + DA) = Rs. 4000
- Income Tax = As per govt. norms.
Check Out: SBI PO Recruitment
How to calculate SBI PO Allowances?
Dearness Allowance (DA)
|Dearness Allowance is calculated based on the Consumer Price Index (CPI) and is revised every quarter. You can expect your DA to be around 46 percent of the basic pay. However, it will go up or down based on inflation.|
|City Compensatory Allowance (CCA)||This is calculated based on your city of posting and ranges between 3 to 4 percent of the basics.|
|Leased House Accommodation / House Rent Allowance (HRA)||This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai).|
|Travel Allowance (TA)||SBI PO gets reimbursement of travel cost for official travels.|
Rs 1,20,000 for the purchase of furniture.
SBI PO Gross Salary
Along with the attractive in hand Salary of SBI PO, appointed candidates will also grant various other benefits and allowances as given below, check out the allowances besides SBI PO Salary which an individual gets.
Apart from the initial salary, PO is also suitable for Dearness Allowance which is 36.40% (presently) of Basic Pay =10832 (the resultant amount is a bit higher as you can see due to some additional loading).
Perks and Allowances:
In SBI, an individual will be benefitted of various perks like petrol stipend, newspaper allowance, entertainment stipend, servant allowance etc. The approximate value for all of these allowances lies in the range of Rs. 6000 – Rs. 8000.
45 litres (semi urban or rural centre), 55 litres (Urban)-for Bike 55 litres (semi urban or rural centre), 65 litres (Urban)-for Car
(Population 45 lacs and above>>HRA will be paid at 10%, 12 to 45 lacs>>HRA will be paid at 9%; 5 to 12 lacs>>HRA will be paid at 7.5%;) eg. Delhi ==> 10% of Basic Pay i.e 2762/-.
City Compensatory Allowance (in big cities n metros)- 880 max.
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State Bank of India also provides the purchasing facility to Probationary Officers of 120000+ Service Tax. (You get furniture rent recovery 11000 yearly) for their residence.
- Entertainment Allowance=12000 per Annum
- Tea Coffee Allowance= 2000 per Annum
- BALTI / DABBA (utility) allowance-1800 per annum
The bank also provides the Medical facility to its Probationary Officers. Medical assist for self is regarded to be unlimited that all the medical bills will be paid by bank itself as subject to the bank norms.
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Provident Fund and Concessional Loans:
PF contribution 2,762.00 (10% of Basic Pay) Contributory Pension Fund 3,768.00 (10% of Basic +DA) Bank also contribute some amount to both PF and NPS. Income tax deduction is separate.
Newspaper and Maid Reimbursement:
Probationary Officers will also get allowance of monthly reimbursement of newspaper cost which is fixed payment being paid towards the charge of one newspaper. Besides this, a fixed monthly amount is remitted regarding the maid allowance that is usually 550 per day.
How to Make? Career in Banking Sector in India
SBI PO Salary Quora
Probationary Officer is the first position of an officer in Bank and the career growth curve is always inclined upwards for the good performers.
Those candidates who will qualify in the test but fail to achieve the determined standards for placement in Middle Management Grade Scale-II, will be confirmed as Officer Junior Management Grade Scale-I.
Trainees who will not be capable in qualifying this process will be terminated here this level only and will not be go for further service process.SBI Bank offers varied opportunities for growth in the Banking sector and as it also includes postings in abroad.
Bank also contains various attractive promotion policies according to which meritorious and exceptionally brilliant officers will get the chance to reach the top level grade of management in a quick way.
Read Here: How to Prepare for Bank Exams
Career Journey for SBI PO:
SBI Bank, appoints the eligible candidates, for probation period of two years for giving them intensive training. On completion of their training period, they will be under go through the screening process.
Trained officers who will be considered capable for set standards will be confirmed and will be promoted to next higher level i.e., Officer Middle Management Grade Scale-II and various other posts.
- Probationary Officer
- Deputy Manager (MMGS II)
- Manager (MMGS III)
- Chief Manager (SMGS IV)
- Assistant General Manager (SMGS V)
- Deputy General Manager (TEGS VI)
- General Manager (TEGS VII)
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