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SBI PO Salary, Job Profile, Starting In Hand Salary, Perks, Promotion

The SBI PO Salary is an attractive avenue for candidates who want to join the State Bank of India in the Probationary Officer post. The SBI PO Salary starts at Rs.41,960 (plus 4 advance increments). The net salary that a newly recruited PO receives is Rs.52,820/- per month after deductions. The initial In hand SBI PO salary seems promising along with perks and allowances (mentioned below). You must be interested in getting to more about the salary structure, Job Profile, Allowances, Probationary period, Career Growth after selection, and SBI PO Salary After 2, 5, and 7 years of appointment. In this article, we have discussed all these details. So, go through the page to know more.

SBI PO Salary 2024

Besides basic pay, SBI PO gets other allowances and benefits like house allowances, DA, Medical Insurance, and others. A Probationary Officer has many responsibilities which include the task of handling multiple operations such as finance, accounting, billing, investment, revenue collection, etc. during his/her probation period. SBI PO is one of the most demanding government jobs in India.

SBI PO Salary Structure 2024

The State Bank of India Probationary Officer (PO) is considered the most demanding and prestigious government job in India as SBI is one of the top nationalized banks. When a candidate is appointed as a PO in SBI he/she starts receiving Rs.41,960 as his basic salary (with 4 advance increments). The salary structure of SBI PO follows the range of 36000-1490/7-46430-1740/2-49910-1990/7-63840. In this article, details of the SBI PO Salary, Hand Salary, Perks, and Job Profile are discussed.

SBI PO Salary Structure
Basic Pay Rs. 41,960
Special Allowance Rs. 6,881
DA Rs. 12,701
Location Allowance 700
Learning Allowance 600
Special Allowance 6881
Gross Salary 65,780
Deductions 12,960
Net Salary Rs 52,820/- Monthly

SBI PO Salary 2024- Deductions

Various benefits are given to SBI POs in terms of deductions that can be claimed by them while filling their ITR and calculating tax liabilities. The table below has got all the claimable deductions in the SBI PO Salary structure.

SBI PO Salary Structure
Particulars Amount
PF Contribution Rs. 4,196/-
Income Tax Rs. 3,290/-
Professional Tax Rs. 200/-
Contributory Pension Fund Rs. 5,274
Total Deductions Rs. 12,960

SBI PO Salary In Hand 2024

The starting monthly salary for SBI POs falls in the range of INR 52,000 to INR 55,000, based on basic pay of INR 41,960. Their annual gross compensation ranges from a minimum of 8.20 lakhs to a maximum of 13.08 lakhs. Apart from the basic pay, SBI Probationary Officers receive additional benefits such as Lease Rental/HRA, DA, Medical, CCA, and other allowances. The specific amount of these allowances varies depending on the location of the job posting.

SBI PO Salary Slip 2024

Candidates who are going to be selected as Probationary officers in SBI Bank and want to check the SBI PO salary slip can check below. Here we have shared the salary slip of the probationary officer. The salary slip will help you understand the salary structure like perks and allowances, deductions, and the total in-hand salary of the SBI PO.

sbi po salary slip

SBI PO Salary 2024- Allowances

The SBI PO Salary includes a basic salary in addition to several allowances that increase an employee’s take-home pay. Allowances that come with SBI PO Salary are tabulated below:

SBI PO Salary Allowances
Allowance Amount
Dearness Allowance 26% of the Basic Pay
City Compensatory Allowance 3% – 4% depending on location
House Rent Allowance 7% – 9% depending on Place of Posting
Furniture Allowance Rs. 1,20,000
Medical Insurance 100% covered for employees | 75% covered for dependent family
Travelling Allowance AC 2-tier fare is reimbursed to the employee for official travels
Petrol Allowance Rs. 1,100 – 1,250
Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. Varies based on Cadre

SBI PO Salary 2024- Increment

Candidates can check the year-wise SBI PO Increment details in the table below. Once candidates complete 7 years in the service they get the maximum increment.

Period Increment (INR) Basic Salary (INR)
First 7 years 1490 36,000
Next 2 years 1740 46,430
Another 7 years 1990 63,840

SBI PO Salary and Perks 2024

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:

  1. Medical insurance (100 per cent for self and 75 per cent for family members)
  2. Cashless treatment in selected medical facilities around the country
  3. Newspaper allowance
  4. Books and magazines allowance
  5. Petrol allowance
  6. House maintenance allowance
  7. Telephone bill reimbursement
  8. Entertainment allowance
  9. Concessionary interest rates for House Loan, Car Loans, and Personal Loans
  10. New pension scheme contribution
  11. Leave Travel Concessions (LTC)

SBI PO Salary After 5 Years

The salary and the in-hand salary of SBI PO are subject to increments every year. There is a fixed amount of increment given to every SBI PO based on the period of service given by them. You must be eager to know about the amount of salary that you will receive after a certain period of time whether it is 2 years, 5 years, or 7 years. With the increase in working years, the yearly CTC will also increase. After 5 years of joining, the SBI PO will receive an estimated salary of Rs. 60,270/- per month.

The table below shows the SBI PO Salary increment annually and the final salary.

Time Increment Basic Salary
First 7 years Rs. 1490 Rs. 36,000
Next 2 Years Rs. 1740 Rs. 46,430
Another 7 Years Rs. 1990 Rs. 63,840

SBI PO Job Profile 2024

The following are the duties of an SBI Probationary Officer regularly:

  1. Supervision of clerical activities, customer service, processing loans, opening bank accounts, etc.
  2. Marketing of New Schemes
  3. Bringing New Business to the bank
  4. Any other task bestowed by the bank from time to time.
  5. On-site training, such as at SBI training institutes.

SBI PO Promotions 2024

A candidate gets hired as a probationary officer after passing all phases of the selection process, and they must then serve a probationary period that can last up to two years. Candidates shall be appointed to the Junior Management Grade Scale-I (JMGS-I) and confirmed in the Bank’s service if they pass the evaluation standards established by the Bank. As the bank holds promotional exams regularly, hopefuls have a good opportunity to move up to the Top Management Grade quickly. The SBI POs are promoted as per the serial given here from 1 to 11 and 11 being the highest of all.

  1. Assistant Manager
  2. Deputy Manager
  3. Manager
  4. Chief Manager
  5. Assistant General Manager
  6. Deputy General Manager
  7. General Manager
  8. Chief General Manager
  9. Deputy Managing Director
  10. Managing Director
  11. Chairman

SBI PO Selection Process– Click to Check

Career As an SBI PO

Overall, the salary and perks offered by the SBI PO Job profile are very attractive and give good career growth. The banking sector releases a decent number of vacancies to offer a good opportunity to aspirants. Numerous candidates apply for the post every year and are currently enjoying a stable life with a good income.

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FAQs

What is the Pay scale of SBI PO.?

The Pay scale of SBI PO is 36000-1490/7-46430-1740/2-49910-1990/7-63840.

What is the basic salary of SBI PO?

The Basic Pay of an SBI PO is Rs. 41,960/- with 4 advanced Increments. Complete details are given in the article.

What is the in hand salary of SBI PO?

The In-Hand salary of SBI PO is between Rs. 52000- Rs. 55000 per month and it keep on increasing after years.

What are the allowances we get in SBI PO.?

The allowances and perks offered in SBI PO are Medical Insurance, Travelling Allowance, Furniture Allowance, Petrol and other allowances.

What is the promotion hierarchy of SBI PO?

The promotion hierarchy is Assistant Manager, Deputy Manager, Manager, Chief Manager, Assistant General Manager, Deputy General Manager, General Manager, Chief General Manager, Deputy Managing Director, Managing Director,Chairman

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