SBI PO Salary 2023
State Bank Of India is one of the largest public sector banks in the country and candidates get selected every year for the post of Probationary Officer. The newly appointed aspirants receive a handsome amount of salary and have various opportunities to boost their careers in the banking industry as SBI PO. Here in the given article, we have discussed the SBI PO Salary Structure along with the deductions, allowances, benefits, and career growth.
SBI PO Revised Salary Structure
SBI PO is a dream job for banking aspirants as the bank provides immense opportunities for growth in careers. After final selection candidates are appointed as “Probationary Officers” and have to undergo a probation period that may extend up to two years. SBI PO Salary varies according to the place of posting but the basic pay remains the same. The net salary includes basic pay along with various perks and allowances. Aspirants preparing for the examination can go through the SBI PO Salary 2023 in the post discussed below.
SBI PO Salary: Overview
Here in the given table, candidates can get an overview of the SBI PO Salary 2023.
|SBI PO Salary: Overview|
|Organization||State Bank Of India|
|Exam Name||SBI PO Exam 2023|
|Vacancy||To Be Notified|
|Notification Date||To Be Notified|
|Application Date||To Be Notified|
|SBI PO Salary 2023||Check This Post in Hindi|
SBI PO Salary 2023 Salary Structure
According to the SBI PO Salary, the basic pay of an employee is Rs. 41,960 in the pay scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840. Here, in the given table aspirants can check the SBI PO Salary Structure 2023.
|SBI PO Salary 2023:Salary Structure
|Net Salary||Rs 52,820|
SBI PO Salary 2023 Deductions
The deduction that is made in the overall salary of a SBI PO is discussed in the below table highlighting the amount deducted from each section.
|SBI PO Salary 2023 Deductions
|Employee PF Contribution||4196|
|Contributory Pension Fund||5274|
SBI PO Salary 2023 Allowances
Apart from the basic salary, the SBI PO Salary also comprises various allowances that contribute to the net amount received by an employee. Some of the standard allowances that a Probationary Officer in SBI are entitled to receive are listed below:
- Dearness Allowance, which amounts to 46.9% of the Basic Pay
- City Compensatory Allowance, ranging from 3% to 4% depending on the employee’s location
- House Rent Allowance, ranging from 7% to 9% depending on the place of posting
- Medical Insurance, with 100% coverage for the employee and 75% coverage for the dependent family
- Traveling Allowance, which reimburses the employee for AC 2-tier fare during official travels
- Additional allowances like Newspaper Allowance, Entertainment Allowance, and Books Allowance, which vary based on the place of posting.
|Related Post to SBI PO Salary|
|SBI PO Syllabus 2023|
SBI PO Salary 2023 Benefits
A candidate selected for the position of Probationary Officer in State Bank Of India can avail the following benefits and privileges:
- Medical insurance coverage up to 100% for the PO and 75% for their family members, with cashless treatment available at selected medical facilities across the country.
- Allowances for newspaper, books and magazines, petrol, house maintenance, telephone bills, and entertainment.
- Eligibility for concessionary interest rates on House Loans, Car Loans, and Personal Loans.
SBI PO Salary 2023 Career Growth
A candidate who qualify all the stages of the selection process is recruited as Probationary Officer after which they have to be on probation period which can extend up to 2 years. Candidates who meet the assessment standards set by the Bank will be appointed to the Junior Management Grade Scale-I (JMGS-I) and confirmed in the Bank’s service. As the bank conducts promotional exam at regular interval, aspirants get a chance to to reach the Top Management Grade in a reasonably quick time.
- Assistant Manager
- Deputy Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Deputy Managing Director
- Managing Director