SBI PO Salary is one big question for the bank aspirants for the job is a great opportunity to work with the top nationalized bank of the country. The State Bank of India Probationary Officer (PO) is considered the most demanding and prestigious government job of India. Also, the job profile has its own benefits and allowances. In this article, details of the SBI PO Salary, In Hand Salary, Perks & Job Profile is discussed. Read on to find out.
SBI PO Salary 2020
SBI PO Salary includes the payscale & basic salary.
SBI PO Payscale is 23700-980/7-30560-1145/2-32850-1310/7-42020
SBI PO Basic Salary: The basic salary of SBI PO is Rs 27620/-. The allowances are added on this basic amount.
SBI PO Gross Salary with HRA: Total Compensation: ₹8.2 lakhs and a maximum of ₹13.08 lakhs depending on the place of posting and other factors.
SBI PO Salary: In Hand
The In-hand salary of SBI PO is in the range of Rs 42000 to 44000. This amount may vary depending upon the location of posting. As the banks follow Bipartite settlements, there is no applicability of 7th pay commission on the amount. Even then, the in-hand salary is attractive enough for the aspirants and thus there remains a huge demand for such Bank job.
SBI PO Allowances & Perks
Allowances that come with SBI PO Salary are tabulated below:
|SBI PO Salary Allowances:|
|Dearness Allowance (DA)||46.9% of the Basic Pay (Revised Quarterly)|
|(CCA)||This varies with the place of posting at 4% or 3%.|
|HRA||9%, 8% or 7% (Depends on the place of posting)|
|Furniture Allowance||Rs. 120000/-|
|Medical Insurance||100% medical coverage for SBI employees and 75% for their family members|
|Travelling Allowance||For official travels, reimbursement of AC 2-tier fare is provided|
SBI PO 2020 Promotion
SBI PO is promoted to good posts along with the increase in the salary as per the Bank norms. The promoted posts include:
- Deputy Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
SBI PO Perks
Being a Bank job, SBI PO Perks include the benefit of having a settled career, job security, fixed allowances and increments. This job is thus an attractive one to a huge number of candidates.
The additional benefits of the salary include:
- Medical insurance (100 per cent for SBI PO and 75 per cent for family members)
- Cashless treatment in selected medical facilities around the country
- Newspaper allowance
- Books and magazines allowance
- Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
- Entertainment allowance
- Concessionary interest rates for House Loan, Car Loan, and Personal Loan
SBI PO Job Profile
- Supervision of clerical activities, customer service, processing loans, opening bank accounts, etc.
- Marketing of New Schemes
- Bringing New Business to the bank
- Any other task bestowed by the bank from time to time.
- On-site training, such as at SBI training institutes.
A Career as SBI PO
Overall, the salary and perks offered by the SBI PO Job profile is very attractive and gives a good career growth. Banking sector releases a decent number of vacancies to offer a good opportunity to the aspirants. Numerous candidates apply for the post every year and are currently enjoying a stable life with good income. Candidates applying for the post are advised to stay updated with the website, adda247.com/jobs for recent notifications related to SBI and other related government jobs.
SBI PO Salary 2020: FAQ’s
Q 1. What is the Payscale of SBI PO.?
Ans. The Pay scale of SBI PO is 23700-980/7-30560-1145/2-32850-1310/7-42020.
Q 2. What is the basic salary of SBI PO.?
Ans. Basic Pay Salary- Rs 27620/- with (4 Increments).
Q 3. What is the in-hand salary of SBI PO.?
Ans. The In-Hand salary of SBI PO is in between 42000 to 44000 per month.
Q 4. What are the allowances we get in SBI PO.?
Ans. The allowances and perks offered in SBI PO are Medical Insurance, Travelling Allowance, Furniture Allowance, Petrol and other allowances.
Q 5. What is the promotion hierarchy of SBI PO.?
Ans. The promotion hierarchy is Deputy Manager, Manager, Chief Manager, Assistant General Manager, Deputy General Manager, General Manager and Chief General Manager.