Canara Bank PO Salary
Canara Bank conducts recruitment to the post of PO in Junior Management Grade Scale-1. While preparing for Canara Bank PO Exam; the most important question arises in everybody mind is what Canara Bank PO Salary 2022 is? After 7th pay scale Commission, hikes have been given in almost every government job. Canara Bank Probationary Officers Salary 2022 has been discussed in this page.
The notifications related to vacancies in Canara Bank releases time to time. You can apply for Canara Bank PO if you are happy with its salary structure, perks and allowances. To know more details, check here-
After the Successful completion of the course after Canara Bank PO, aspirants will get a pay scale of INR 23700-980/7- 3056-1145/2-32850-1310/7-42020. Contenders will also obtain House Rent Allowance (HRA), Dearness Allowance (DA), Medical Aid (MA), CCA, Leave Fare Concession etc. the Perquisites such as furniture, Conveyance etc. The Salary structure of Canara Bank PO post is given below;
Canara Bank PO Salary 2022
Canara Bank PO Salary Structure
|Pay Scale||Metro Cities||State / Capitals||District level & Rural Places|
|CCA (City Compensatory Allowance)||Rs.870||Rs.600||Nil|
|HRA (House Rent Allowance)||Rs.2133||Rs.1896||Rs.1659|
|DDA (Dearness Allowance)||Rs.12206.69||Rs.12206.69||Rs.12206.69|
Selected candidates can expect an in-hand salary in the range of Rs.36,000 – 38,000.
Canara Bank PO Salary & Perks after 7th Pay Commission:
Canara Bank release PO Recruitment notification time to time. And Canara Bank PO Salary are uniform all the time. Along with the monthly pay scale, candidates will also get Perks, Allowances. Read more of Canara bank PO salary after 7th pay commission from below table:
|Total (without HRA)||36570.38|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.52|
Read More About: Bank Salary Structure
Canara Bank PO Salary and Allowances:
Canara Bank along with PO Salary provides below stated allowances. Grab the details from below table:
|Dearness Allowance (DA)||To give Dearness Allowance in Canara Bank, Consumer Price Index (CPI) and is considered. Along with that living adjustment cost will also be paid to probationary officers in both sectors. This allowance is received by the employee quarterly and at the time of calculation|
|House Rent Allowance (HRA)||House Rent Allowance will be given to candidates at 0% or 8.0% or 7.0% depending on the place of Posting by Canara Bank.|
|Special Allowance||Special Allowances will be payable as 10th BPS (wef. 01/11/2012) and for Scale, I 7.75%.|
|CCA||4% (maximum Rs.870/-) or 3% (Maximum Rs.600/-) or 0%.|
|Conveyance Allowance||It is paid for commuting between home and office.|
Check Here All: Bank Exam Model Papers
Canara Bank PO Career growth and progression
Given below are the factors that determine your promotion to higher grades.
- Seniority level
- Availability of vacancies in the department
- Maintaining good Service Record
The table given below will provide a better idea of growth in Canara Bank:
- Scale I: Officer i.e. PO
- Scale II: Manager
- Scale III: Senior Manager
- Scale IV: Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Executive Director (ED)
- Chairman and Managing Director (CMD)
Canara Bank PO Salary – Perks and Benefits
With the job of Canara Bank PO, there come a lot of perks and benefits. A few of them are listed below:
- Dearness Allowance
- Loyalty Bonus
- Dearness Relief
- House Rent allowance
- Medical Allowance
- Travel Allowance
- Other Allowances related to pay
Added Perks for Canara Probationary Officer:
|Leased Accommodation||Leased Accommodation services instead of HRA. And Official bank housing / banking quarter as rented accommodation.|
|Traveling Allowance||Employees also get Travelling allowance. Like their petrol expense and service station charges.|
|Newspaper Reimbursement||The newspaper expenses of a Probationary Officer are also barred by the bank.|
|Medical Aid||Employees are also given a fix amount of Medical Aid (Revised amount is Rs8000/- p.a.).|
Bank PO Perk and Facilities at Joining Time:
Probationary Officer in Canara Bank will get many facilities and perks at the time of joining. Candidates can check out the table below provided to know the exact value of Perk and Facilities:
|Salary||Major A class cities :Metro Cities||Other places in Cat A Centers (State Capitals etc)|
|Leased House Rent||Rs.12,500||Rs.10,000|
|News Paper||Rs. 250||Rs. 250|
|Business Development Expenses||Rs.300||Rs.300|
|Add 15 % increase in pay slip as|
per new settlement which is
expected to be implemented from June 2015(w.e.f. Nov 2012)
|Gr Total||Rs.19,665||Rs. 16,790|
Category B Centers
|News Paper||Rs. 250||Rs. 250|
|Add 15 % increase in|
pay slip as per new settlement
which is expected to be implemented
from June 2015(w.e.f. Nov 2012)
Canara Bank Important Links
|Canara Bank Syllabus||Check Here|
|Canara Bank Recruitment||Check Here|
IBPS PO Career and Promotions:
- Middle Manager – Middle Management Grade Scale 2
- Senior Manager – Middle Management Grade Scale 3
- Chief Manager – Senior Management Grade Scale 4
- Assistant General Manager – Senior Management Grade Scale 5
- Deputy General Manager – Top Management Grade Scale 6
- General Manager – Top Management Grade Scale 7
- Executive Director
- Chairman and Managing Director
Career progression for Probationary Officers in Banking Sector with Salary:
|Junior Management Grade – Scale I: Officer i.e. PO||23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020|
|Middle Management Grade – Scale-II: Manager||31705 -1145 -32850 -1310 -45950|
|Middle Management Grade – Scale III: Senior Manager||42020 -1310 -48570 -1460 -51490|
|Senior Management Grade – Scale IV: Chief Manager||50030 -1460 -55870 -1650 -59170|
|Senior Management Grade Scale V: Assistant General Manager||59170 -1650 -62470 -1800 -66070|
|Top Management Grade Scale VI: Deputy General Manager||68680 -1960 -76520|
|Top Management Grade Scale VII: General Manager||76520 -2120 -85000|
|Executive Director (ED)||Approx 1.5 + lac|
|Chairperson and Managing Director (CMD)||Approx 2 + lac|
Must Read: Banking Current Affairs
IBPS PO Salary After 11th Bipartite Settlement:
|Basic Pay||Gross Salary|
What is the salary of Bank PO after 5 years?
|Years of Experience||Average Annual Salary|
|1 year to 4 years||INR 3 lakh|
|5 years to 9 years||INR 5.7 lakh|
|10 years to 19 years||INR 6.8 lakh|
|More than 20 years||INR 5.3 lakh|
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Canara Bank PO Salaries in India 2022
Authorities of Canara Bank differentiate the salary in the bank according to the post such as Probationary Officer, senior officer, clerk, manager, etc. Probationary Officer in Canara Bank gets per month in hand salary of RS. 23700.00/-.
Canara Bank PO Salary 2022 gets hike time to time. Candidates who are going to apply for Canara Bank Recruitment they must have knowledge of Canara Bank PO Salaries which is well described above on the page of recruitmentresult.com.
CANARA BANK PO FAQS 2022
Question 1: How much does a Canara Bank PO make per month?
Answer: The Canara Bank PO makes at least Rs.40000 to Rs.42000 per month.
Question 2: What is the basic salary of Canara Bank PO?
Answer: The basic salary of Canara Bank PO is Rs.23700.
Question 3: Which is the minimum pay scale for Canara Bank PO?
Answer: The minimum pay scale for Canara Bank PO is Rs.23700.
Question 4: Do you get a salary after the Canara Bank PO exam?
Answer: No, salary is received once the candidate joins the department as a Canara Bank PO.
Question 5: Is there any career growth for the Canara Bank PO?
Answer: Yes, the candidates can be promoted to the Chairman and Managing Director post.
Candidates we hope that above stated details of Canara Bank PO Salary 2022 will be beneficial for you if you are going to apply for the recruitment. You can subscribe to our free mail services to get instant mails in your mail box.