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SBI PO Salary 2023, Revised Salary Structure, Job Profile

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
Post Probationary Officer
Vacancy To Be Notified
Notification Date To Be Notified
Application Date To Be Notified
Official website
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
Basic Pay 41960
HRA 2937
Dearness Allowance 12,701
Location Allowance 700
Learning Allowance 600
Special Allowance 6881
Gross Salary 65780
Deductions 12,960
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
Income Tax 3290
Professional Tax 200
Contributory Pension Fund 5274
Total Deduction 12960

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
  • Manager
  • Chief Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
  • Chief General Manager
  • Deputy Managing Director
  • Managing Director
  • Chairman

SBI PO Salary 2023, Revised Salary Structure, Job Profile_50.1

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What is the in-hand SBI PO Salary?

The in-hand SBI PO Salary is approximately Rs.52,820.

What is the basic pay of SBI PO?

The basic pay of an SBI PO is Rs 41960.

What is the pay scale for SBI PO Salary?

The pay scale of SBI PO Salary is 36000-1490/7-46430-1740/2-49910-1990/7-63840.

What are the perks and allowances included in the SBI PO Salary?

The perks and allowances included in the SBI PO Salary are Dearness Allowance, House Rent Allowance, Medical Allowance, Special Allowance, etc.

What is the career growth of SBI PO?

The career growth of SBI PO is discussed in the post above.

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