SBI PO Salary: In-Depth Analysis
Many of you want to know the salary of an SBI PO. Right? Well, if this is the case, then in this blog you will be provided with all the information above the same. Truly, through this blog, you will get to know how much is paid to the probationary officer of SBI. You just need to stick around with this blog till the end of the discussion. This blog is all about sbi po salary.
Moreover, at the same time, this fact has also been considered that you might be having several doubts and questions related to the same. However, no worries. This blog comes up to provide you with the best and most accurate info about the salary of SBI Probationary Officer. Furthermore, this blog is going to be very engaging and informative for those who want to become a PO in SBI. You just need to be enthusiastically present around this blog till the end of it. Hence without wasting any time, let us start this blog. As a consequence, it is time to start with this article.
About SBI PO Salary
The SBI PO is a reputed and respectful job. It is an attractive opportunity to all the banking aspirants. As soon as the vacancy for this post is released, so many candidates compete for this post. However, many of the candidates are not aware of the salary offered to the SBI PO.
Notably, the basic pay offered to an SBI Probationary Officer is 41,960 including 4 advanced increments. The salary of an SBI Probationary Officer as per the revised Bipartite Settlement with four increments is 36,000-1490/7-46430-1740/2 – 49910-1990/7-63840. This specifies that the Probationary Officer will will get a basic salary of ₹36,000 with an increment of ₹1490 for the next 7 years, followed by a basic salary amount of ₹46430 along with an yearly increment of ₹1740 for the next two years. Hence, the maximum pay offered to the SBI PO can be around ₹63,840.
SBI PO Salary Structure
The initial in hand salary of an SBI Probationary Officer is ₹52000 to ₹54000. Moreover, given below is the salary structure of the salary of an SBI Probationary Officer.
Basic Salary – ₹41,960
Special Allowance – ₹6881
Dearness Allowance – ₹12,801
Location Allowance – ₹700
Learning Allowance – ₹600
HRA – ₹2937
Gross Salary – ₹65,780
Deduction – ₹12,960
Net Salary – 52,820
SBI PO Salary Deduction
From the gross salary, there are certain deductions from the salary, after which the in hand salary of ₹52,820 is offered to the SBI PO.
PF contribution – ₹4196
Income tax – ₹3290
Professional tax – ₹200
Contribute pension fund ₹5274
Total deductions from salary – ₹12,960
SBI PO Allowances
There are various allowances offered to the SBI PO along with the salary. These are given below:
Dearness Allowance – 26% of the basic salary
City Compensation Allowance – 3-4% depending upon the location
House Rent Allowance – 7-9% depending upon the posting
Furniture Allowance – ₹120000
Medical Allowance – 100% covered for the employee
Traveling Allowance – AC 2 tier is reimbursed to the employee
Petrol Allowance – ₹1100 – 1250
Books, Newspaper, Entertainment Allowance – varies
SBI PO Perks
Along with the attractive salary, there are several perks and benefits offered to the SBI PO. These are given below:
Contribution Pension Scheme/New Pension Scheme.
Medical aid for self as well as for the family.
LTC
Home Travel Concession/ Leave Fare Concession
Concessional interest rates for car/housing and personal loans.
Job profile and Promotion
All the candidates who were shortlisted for this position have to go through a training process in which basic knowledge of this position. In addition to this, the candidates are required to sign a bond of ₹2 lakh. Then they are going to serve the bank for a minimum time period of 3 years.
Apart from that, the promotion exams are also conducted every year by SBI through which you can increase the position and salary of your job profile. However, before promotion, a probationary officer must serve 2 years in the bank. After that, he is eligible for the promotion as follows:
Assistant Manager
Deputy Manager
Manager
Chief Manager
Assistant General Manager
Deputy General Manager
General Manager
Chief General Manager
Deputy Managing Director
Managing Director
Chairman
Final words
Without a doubt, sbi po salary is attractive and alluring to all the banking aspirants. Hence, candidates who are looking forward to get selected for this post, should have at least basic knowledge of this position. Also, you need to serve at least 3 years at the bank if you want to get hired for this position. Moreover, it is a good job opportunity with an initial pay of ₹41960. However, after all the deductions, you will receive ₹52820 as the net salary. Henceforth, you may apply for this post. Tell us your thoughts on the same in the comments section. See you in the next blog with some other engaging topics. Till then, bye. Have a nice day folks!
