SBI PO Salary: The State Bank of India offers lucrative packages to eligible candidates for the post of Probationary Officer in SBI PO Recruitment. SBI PO Salary includes In-Hand Salary, Allowances, Benefits, and more. SBI PO is considered one of the best government banking jobs in India, due to various allowances, security, and perks. In this article, we have discussed everything related to the Salary, so please read the full in detail.
Also Read: RBI Grade B Syllabus & Exam Pattern 2021
SBI PO Salary 2021 Structure
The basic pay of SBI PO is Rs 27,620. The basic pay refers to the fixed amount of salary, excluding bonuses, and allowance. The starting basic pay with 4 advance increments. i.e., 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. Here 7 is the no of years and Rs 980 is the increment for the next 7 years. The next basic pay will be Rs 30,560 with an increment of 1145 for the next 2 years. The maximum basic pay is 42020.
SBI PO Salary In Hand
The approx. salary in hand is Rs 40,000 – Rs 42,000. The annual salary lies between 8 lakhs to 13 lakhs depending on the post and location.
SBI PO Allowances
|Dearness Allowance||46.9% of the basic pay|
|City Compensatory Allowance||3% or 4%(depending on the place of posting)|
|House Rent Allowance||7% – 9% depending on Place of Posting|
|Furniture Allowance||INR 1,20,000|
|Medical Insurance||100% covered for employee | 75% covered for dependent family|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels|
|Petrol Allowance||INR 1,100 – 1,250|
SBI PO Salary Benefits
The perks are discussed below:
- New Pension Scheme.
- Medical Insurance for self (100%) and for family (75%).
- House maintenance allowance
- Home Travel Concession/ Leave Fare Concession.
- Concessional interest rates for Housing/Car/Personal Loans.
- Much more.
SBI PO Promotion
SBI PO job offers a good salary, career growth, and social status, which candidates seek. The candidate can get a promotion which is icing on the cake.
- Assistant Manager
- Deputy Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Deputy Managing Director
- Managing Director
Frequently Asked Questions for SBI PO Salary
Q1. What is the in-hand salary of SBI PO?
Ans. The in-hand SBI PO salary is approximately Rs40,000/- to Rs.42,000/-. This salary may differ for employees working at different job locations.
Q2. What is the starting SBI PO salary?
Ans. The starting SBI PO salary is Rs.27,620/- (basic pay) which is followed by four increments. The pay scale of a Probationary Officer/ Management Trainee is 23700-980/7-30560-1145/2-32850-1310/7- 42020.
Q3. What benefits are provided apart from the SBI PO salary?
- House Rent Allowance
- Medical Allowance
- Travel Allowance
- Furniture Allowance
- Loan Benefits
- Dearness Allowance
Q4. What is the highest rank an SBI PO can get in his/her bank career?
Ans. Chairman is the highest rank in SBI PO career.