SBI PO Salary, Job Profile, Starting In Hand Salary, Perks, Promotion 2024, Check Free Details

SBI PO Salary 2024

Apart from the basic salary, SBI PO gets other allowances and benefits like house allowance, DA, medical insurance and others. A probationary officer has many responsibilities which include handling several tasks like finance, accounting, billing, investment, revenue collection etc. during his probation period. SBI PO is one of the most sought after government jobs in India.

SBI PO Salary Structure

State Bank of India Probationary Officer (PO) is considered to be the most sought after 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 getting a basic salary of Rs 41,960 (with 4 advance increments). The salary structure of SBI PO is in the range of 36000-1490/7-46430-1740/2-49910-1990/7-63840. In this article, details of SBI PO salary, in hand salary, allowances and job profile are discussed.

SBI PO Salary- 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 In Hand

The starting monthly salary for SBI PO ranges between Rs 52,000 to Rs 55,000 based on the basic pay of Rs 41,960. His annual gross compensation ranges from a minimum of Rs 8.20 lakh to a maximum of Rs 13.08 lakh. Apart from the basic salary, SBI Probationary Officers get additional benefits like 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

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 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 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.

SBI PO Salary and 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:

1. Medical insurance (100 percent for self and 75 percent 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 Loan
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 ill 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.

SBI PO Job Profile

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

After passing all the stages of the selection process a candidate is appointed as a probationary officer, and then they have to complete a probationary period which can last up to two years. Candidates will be appointed to Junior Management Grade Scale-I (JMGS-I) and will be confirmed in the service of the Bank if they pass the assessment standards established by the Bank. Since the Bank regularly conducts promotional examinations, candidates have a good opportunity to reach the top management grades quickly. SBI POs are promoted as per serial number 1 to 11 given here and 11 is the highest.

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