SBI PO Salary Structure
SBI is one of the largest lending bank of country that provides recruitments at various levels such as PO and clerk etc. Candidates applied for any of these posts may get SBI PO Salary Structure through this page. Candidates in large number apply for SBI Probationary Officer (PO) Recruitment, as it offers an attractive salary structure to the candidates who got engaged to this post.
Here, on this page of recruitmentresult.com, complete details regarding SBI Probationary Officer Starting Salary In Hand has been given below in order to make you aware regarding the excited career in banking sector with attractive pay.
SBI PO Salary Structure
- The initial basic salary of Probationary Officer is Rs.27620/- (with 4 advance increments) the scale of Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I.
- The official will also be eligible for D.A, H.R.A/ Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time.
- Total compensation per annum would be a minimum of Rs. 7.55 lacs and maximum of Rs. 12.93 lacs depending on place of posting and other factors.
- SBI plans to offer, subject to necessary approvals, a SMART Compensation package which would enable candidates a choice to monetize specific elements of the salary package.
Check Out: SBI PO Recruitment 2016 (2200 Vacancies)
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.
Petrol: 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/-.
Bank Salary After 7th Pay Commission: Get Details
City Compensatory Allowance (in big cities n metros)- 880 max.
SBI Furniture Allowance:
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.
Provident Fund and Concessional Loans:
PF contribution 2,762.00 (10% of Basic Pay) Contributory Pension Fun 3,768.00 (10% of Basic +DA) Bank also contribute some amount to both PF and NPS. Income tax deduction is separate.
Have A Look On this Useful Section:
|SBI PO Eligibility Criteria||SBI PO Interview Experience|
|SBI PO Exam Pattern||SBI PO Previous Year Papers|
|SBI PO Admit Card||SBI PO Result|
|Latest Bank Jobs||SBI Challan Form|
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.
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 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.