Federal Bank PO Salary 2022: Federal Bank is one of the leading private sector bank which offers a lucrative salary package along with various perks and allowances. Salary is one of the main factors to choose any job therefore candidates are always excited to know the salary for the post they are applying for. In this article we are going to discuss the Federal Bank PO Salary 2022. Candidates who have applied for Federal Bank PO post must have a clear idea about the job profile, responsibilities and Federal Bank PO salary 2022 for a better understanding of the organization they wish to join.
Federal Bank PO Salary 2022
Federal Bank offers the basic pay of rupees 36,000 initially to Federal Bank PO. The monthly salary of PO in the federal bank is 58,500. Now let’s understand the structure of basic pay given below. The Federal Bank PO will get an annual increment of rupees 1490 for 7 years then after 7 increments the basic pay will be 46,430. In the next phase there will be two annual increments of rupees 1740. After these two annual increments the basic pay will become 49,910. At last 7 increments of 1990 will be provided after which the basic pay will be 63840. This is the maximum basic pay which can be received by Federal Bank PO. All other components and allowances of Federal Bank PO salary 2022 will be calculated on basic pay.
|Basic Pay after 7 increments of 1490||46,430|
|Basic Pay after 2 increments of 1740||49,910|
|Basic Pay after 7 increments of 1990||63,840|
|Federal Bank PO Recruitment 2022|
Federal Bank PO Salary 2022
The Federal Bank PO’s will be eligible to receive certain allowances like dearness allowance, house rent allowance, city compensatory allowance, medical and other allowances. Candidates can check the description of allowances which are included in the Federal Bank PO Salary 2022. The cost to company per annum would be a minimum of 9.57 lakhs rupees and maximum of 13.32 lakhs depending upon the place of posting and other factors.
|Dearness Allowance (DA)||This is calculated based on the CPI and is revised quarterly.|
|Lease Accommodation/House Rent Allowance||This component is based on the place of the posting|
|City Compensatory Allowance (CCA)||This component too depends upon the place of posting|
|Medical and Other Allowances||As per rules of the organization|
Federal Bank PO Job Profile
Before discussing about Federal Bank PO job profile, it will be wise to have a look at the probation period and the service agreement. Candidates who will be selected as PO in the federal bank will have to serve a 2 years probation period. Apart from this candidates getting selected for Federal Bank PO will need to sign a service level agreement under which they undertake to serve the bank for a minimum period of 2 years and if they fail to comply then they have to pay a sum of rupees 50,000 as cost of training to bank.
- once the probation period is completed, the candidate will be absorbed in the Junior management grade 1. The major roles of an Garde1 officers are initially to handle daily customer transactions, viz. clearing a cheque, draft issuance, cash management, etc.
- Responsible for tasks like processing loans and document verifications
- Responsible for managing cash flows, finances and mortgages.
- Have to work as public relations officers, handle customer complaints and address various customer related issues such as discrepancies in accounts, the rectification of undue charges, and look into complaints regarding services provided by the bank.
Federal Bank PO Career Growth
Private Sector banks are known for providing quick career growth as they need enthusiastic and goal oriented candidates who are willing to learn everyday and work in the dynamic environment. If you will work hard then you can reach at new heights of success. Private banks are also known for adopting new technologies in the banking sector which benefits the customers so the newly selected candidates under Junior management grade 1 will surely learn a lot of things about the banking system. Federal Bank being a private sector bank gives various opportunities to its employees to grow through internal promotions. Based on your potential you can grow from officer grade1 to grade 2 and even grade 3.
FAQs: Federal Bank PO Salary 2022
Q. What is the Federal Bank PO Salary 2022?
Ans The monthly salary of PO in the federal bank is 58,500 excluding statutory deductions like income tax, profession tax and NPS etc.
Q.2 What is Federal bank PO salary structure 2022?
Ans Federal Bank PO salary structure in the year 2022 is 36,000-1490/7-46430-1740/2-49910-1990/7-63840.