SBI PO Salary
Check updated SBI PO Salary 2024 Here…!!! This is page is providing revised in hand salary structure of a state bank of India Probationary officer. Check detailed PO pay scale along with all perks, deductions and net salary.
Those who are curious to know about the SBI PO Salary 2024, can obtain the complete information from here. We have provided all the relevant details about the Revision Salary, Allowances, and Job Profile of a Probationary Officer at SBI.
SBI PO Pay Scale after 7th CPC!!
State Bank of India is one of the most reputed banks of the Government of India. The candidates who are selected for the Probationary Officer post, are given an impressive salary with all the benefits by the Government. To see complete details about SBI PO Salary 2024, In-Hand Salary and Pay Scale after the 7th CPC, you need to explore the following section of this page which is well-designed by the team of www.recruitmentinboxx.com.
SBI PO Salary
SBI PO Salary 2024
The basic pay of SBI PO as of now is Rs. 41960/- (with 4 advance increments) on the scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840 applicable to Junior Management Grade Scale-I. Let’s discuss the In Hand Salary, Allowances, Perks and benefits, and Job Role of SBI Probationary Officer.
| Salary Structure | |
| Basic Pay | Rs. 41,960 |
| Special Allowance | Rs. 6,881 |
| DA | Rs. 16,300 |
| Location Allowance | Rs. 700 |
| Learning Allowance | Rs. 600 |
| HRA | Rs. 2,937 |
| Gross Salary | Rs. 69,378 |
| Deduction (PF/Income Tax/Professional Tax/Pension) | Rs. 12,401 |
| Net Salary | Rs. 56,977 |
SBI PO Deductions:
There are certain deductions in the SBI Probationary Officer Salary that can be claimed later while filling their ITR and calculating tax liabilities. Refer to the table placed below to know about all the claimable deductions in salary:
| 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 In-hand salary of SBI PO 2024 lies in the range of Rs. 52,000 to 56,977 per month. The variation is due to the different posting locations. Since all the banks follow Bipartite settlements, so there is no applicability of the 7th CPC on the amount. However, the in-hand salary of an SBI Probationary Officer is still impressive.
SBI PO Salary Increment:
The SBI PO Salary is subjected to an increase every year. There is a fixed amount of increment given to every SBI Probationary Officer on the basis of the period of service. The annual SBI PO Salary increment along with the final salary is shown in the following – (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
Get List of Top: SBI PO Preparation Books
SBI PO Allowances
Candidates who are appointed as SBI PO are offered various allowances which include Dearness Allowances, H.R.A / Lease rental, C.C.A, Medical, and other allowances & perquisites which vary as per rules from time to time.
Major SBI PO allowances are tabulated as follows:
| Allowance | Amount |
| Dearness Allowance | 46.9% of the basic pay |
| City Compensatory Allowance | 3% or 4%(depending on the place of posting) |
| House Rent Allowance | Minimum- Rs 8000/-(Rural) Maximum- Rs 29500/-(Urban) |
| Furniture Allowance | Depends |
| 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 | Rs. 1,100 – 1,300 |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. | Varies based on Cadre |
SBI PO Perks
The additional perks enjoyed by an SBI PO include:
- Medical insurance (100 percent self and 75 percent for family members)
- Cashless treatment in selected medical facilities around the country
- New pension scheme contribution
- Leave Travel Concessions (LTC)
- Newspaper allowance
- Entertainment allowance
- Concessionary interest rates for House Loan, Car Loan, and Personal Loan
- Books and magazines allowance
- Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
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.
Check Out For Other Banks: Bank PO Salary
SBI PO 2024 Promotion
Candidates who will qualify at the predetermined level then only will be promoted to further higher positions which will be Officer Middle Management Grade Scale-II, others. Promotions in SBI follow the below-mentioned path:
- Assistant Manager
- Deputy Manager
- Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Deputy Managing Director
- Managing Director
- Chairman
FAQ (Frequently asked Questions)
Ques 1: What is the in-hand salary of an SBI PO?
Ans: SBI PO salary is approximately Rs 50,000/- to Rs.56, 000/-.
Ques 2: What is the highest rank an SBI PO can get?
Ans: Chairman is the highest rank.
Ques 3: What is the probation period for an SBI PO officer?
Ans: The probation period for SBI PO officers is 2 years.
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