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SBI PO Salary I Allowances, and other facilities

 

SBI Bank PO Salary: SBI PO salary is one of the highest paying salaries in the banking sector that way most of the banking aspirants want to join as SBI PO. The post of Probationary Officer is honored in itself but if the name of the State Bank of India is associated with this post then it becomes even more important. It is the dream of every candidate who wants to make his/her career in the banking sector to get a PO job in SBI. Today in this article we are going to discuss the SBI PO salary and other allowances available to SBI Probationary Officers. We cannot analyze any job without salary and package. However, from the name and brand of the bank, it can be understood that the salary package provided by the bank will be very good and this is something that always excites every aspirant to prepare for the SBI PO exam with full effort. Here we will discuss the SBI PO salary and various allowances provided by the State Bank of India to the Probationary Officers.



SBI PO Salary Structure in India

SBI PO Salary in India- Basic Pay Rs 41,960/- (Increment in 4 stages)

1st Increment- Rs. 36000-1490/7

2nd Increment-Rs. 46430-1740/2

3rd Increment- Rs. 49910-1990/7

4th Increment- Rs. 63840

Dearness Allowance 46.9% of the basic pay

City Compensatory Allowance(CCA) 3% or 4%(depending on the place of posting)

Leased House Accommodation Minimum- Rs 8000/-(Rural)

Maximum- Rs 29500/-(Urban)

Medical Insurance 100% for employees

75% for families

Travelling Allowance Reimbursement for AC-2Tier (Exclusively for official travels)

Petrol Rs 1100-Rs 1300( in case of absence of personal vehicle)

Miscellaneous Rs 4000/-

Total Compensation (Annually) 7.5 lakhs to 12.9 lakhs

Loan Benefits Concession on interest rates


SBI PO Salary, Allowances, and Perks

SBI PO is one of the most demanding and prestigious jobs in the banking sector. The post of A Probationary Officer is prestigious in itself but if the name of the State Bank of India is associated with this post then it becomes even more important. It is the dream of every candidate who wants to make his/her career in the banking sector to get a PO job in SBI.  SBI PO Salary is also high paying compared to other bank POs. We cannot analyze any job without salary and package. However, from the name and brand of the bank, it can be understood that the salary package provided by the bank will be very good and this is something that always excites every aspirant to prepare for the SBI PO exam with full effort. Here we will discuss the salary and various allowances provided by the State Bank
of India to the Probationary Officers.

SBI PO salary slip


Total CTC

 The CTC (Cost to Company, CTC) provided by the bank to its officers themselves explains why you should join SBI. The SBI bank offers a minimum package of Rs 8.20 lakh and a maximum package of Rs 13.08 lakh depending on the place of posting and other factors. So, if you are posted in a city like Mumbai, your one-month salary can be more than 1 lakh.

SBI SMART
Compensation Package

SBI is the first bank in the country to propose a SMART compensation package to its employees in the Finance Ministry. Under this, the employees of the bank will be given the option to monetize certain components/benefits of the salary package as per their needs and requirements. However, this proposal has not yet been approved by the Finance Ministry.

Dearness Allowance

In addition to the starting basic pay, you get some percentage of the basic pay as dearness allowance which is revised every three months as per the All India Consumer Price Index data published by the Government of India.

House Rent Allowance

This is another component of your gross salary and is also calculated as a percentage of your basic pay. This allowance depends on the city where you are posting. Candidates will get a maximum of 10% of their basic salary for metro cities or Tier I cities and a minimum of 7.5% of their basic salary for rural areas as allowances. If you find posting away from your home

If selected then you will be entitled to lease accommodation and for Mumbai, this amount is Rs.29500. The amount of lease accommodation also depends on your city of posting. If you are availing of lease accommodation, you will not get a house rent allowance.

City Compensatory Allowance:

This allowance is basically given towards the cost of living in metro cities like Mumbai, and Delhi. It is 4 percent of your basic salary.

Holiday facilities

SBI gives various types of leave to its employees like Casual Leave, Privilege Leave, Medical Leave, Extra Leave, etc. The Bank offers 12 Casual Leaves, 30 Privilege Leaves, and 15 Medical Leaves throughout the year. Apart from this, the bank also provides 6 months of maternity leave to its women employees.

Special facility of travel concession

The bank provides LTC (Leave Travel concession) facilities to its employees. Employees can avail of it once in two years or four years at their convenience. The bank not only reimburses the ticket fare but also provides a guest house facility in any corner of the country. As an SBI PO, you can travel in AC 2 Tier on any train across the country.

Medical benefits

SBI offers a comprehensive medical benefits package to its employees. In this 100% of the expenses incurred for self-treatment and 75% of the expenses incurred in case of dependents are paid by the bank. The bank has tie-ups with many leading hospitals in the country where you can also avail of cashless treatment facilities.

Miscellaneous benefits

Apart from all the above facilities, the bank provides various types of allowances to its employees Petrol Allowance, Newspaper Allowance, Entertainment Allowance, House Maintenance Allowance, etc. It is around Rs 5000 in your care. Apart from all these benefits, the bank also provides car loans, housing loans, etc. at concessional rates to all its officers.

Promotional aspect

This is another reason why the younger generation chooses this bank over other banks. SBI's promotion policy is the best in the banking sector and in many ways, it is better than the promotion policy of RBI. So, with the above salary, you start your job in SBI but your salary will keep increasing with every promotion.


Job is not only about money but also about job satisfaction i.e. job satisfaction. SBI gives you both job satisfaction and financial security. SBI PO is the best job in the banking industry; It offers the best entry-level salary to its employees. Also, if you are interested in learning the nuances of banking and finance, then the bank also offers you excellent career development opportunities.


SBI PO Career Growth

 SBI Bank PO salary growth along with career growth and there are various allowances and salaries that a Probationary Officer in SBI is eligible to get. Also, we see in terms of career growth, that this post is one of the most demanded jobs. The career growth of the SBI PO designation is very long. Aspirants can see a great career in the future once they join the largest Public Sector Bank in India.


 SBI PO Career Groth is given below:

Deputy Manager

Manager

Chief Manager

Assistant General Manager

Deputy General Manager

General Manager

Chief General Manager

People also ask

1. What is SBI PO in hand salary?

SBI PO will get a total of Rs 52000 to 55000 INR in-hand Salary.

2. What is the salary of the SBI PO after 2 years?

The starting Salary of an SBI PO is  Rs. 46430 and gets an increment of Rs. 1740.

3. Which SBI post has the highest salary?

SBI PO post is considered the highest pay salary compared to other government bank jobs in India as SBI is one of the top nationalized banks.

SBI PO Salary 2022.

SBI PO Salary

Basic Pay Rs. 41,960

HRA Rs. 2,937

Gross Salary Rs. 65,780

Deduction (PF/Income Tax/Professional Tax/Pension) Rs. 12,960

4. What is the starting SBI PO salary?

Ans. The starting SBI PO salary is Rs.41,960/- (basic pay) which is followed by four increments. The pay scale of a Probationary Officer/ Management Trainee is 36000-1490/7-46430-1740/2-49910-1990/7-63840.

5. What is the salary of a PO after 5 years?

Plus, candidates will receive additional allowances up to Rs. 10,000 /- to Rs. 15, 000/- Hence the IBPS PO salary after 5 years will be around ₹ 60,000/- to ₹ 65,000/-

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