| Updated On June 5th, 2020 at 02:20 pm
SBI Salary: State Bank Of India is one of the most coveted institution and every banking aspirant wants to be a part of this institution. One of the factor which attracts maximum students toward SBI jobs is lucrative salary and perks. SBI is known to give best salary to its employees in the banking industry. It also offers great perks and benefits to its employees. In this article, we will be covering salary and perks of three posts on which it conducts direct recruitment namely: SBI PO. SBI Clerk and SBI SO. We will be giving you in-depth knowledge related to this so that you can stay motivated and keep working hard.
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|SBI PO 2020||SBI SO 2020||SBI Clerk 2020|
SBI PO Salary Structure
As per the official notification, the basic pay of an SBI PO is Rs 27620 which includes four advance increments in the compensation size of 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. This amounts to a total basic pay of Rs 23700 with an increment of Rs 980 for the next 7 years, and which is again followed by a basic of Rs 30560 with an annual increment of Rs 1145 for the next two years and so on. The maximum basic salary of a SBI PO will amount to be Rs 42020.
|Basic Pay||Rs 27620/- ( Increment in 4 stages-1st Increment- Rs. 23700-980/72nd Increment-Rs. 30560-1145/2
3rd Increment- Rs. 32850-1310/7
4th Increment- Rs. 42020
|Dearness Allowance (DA)||46.9% of the Basic Pay which is Revised Quarterly|
|(CCA)||varies as per the place of posting at 4% or 3%.|
|HRA||9%, 8% or 7% (Depending on the place of posting)|
|Furniture Allowance||Rs. 120000/-|
|Medical Insurance||100% medical coverage for SBI employees and 75% for their family members|
|Travelling Allowance||For official travels, reimbursement of AC 2-tier fare is provided|
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SBI PO Allowances
Given below are some of the allowances which are cater to a SBI PO employee:
- Allowance Amount
- Dearness Allowance is provided which is 46.9% of the Basic Pay
- City Compensatory Allowance is provided that is 3% – 4% depending on location of posting
- House Rent Allowance is provided in the range 7% – 9% depending on the Place of Posting of the candidate
- Furniture Allowance INR 1,20,000 is provided
- Medical Insurance which covers 100% for employee | 75% covered for dependent family is provided
- Traveling Allowance is provided of AC 2-tier fare is reimbursed to the employee for official travels.
- Petrol Allowance is provided in the range of INR 1,100 – 1,250
- Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. Varies based on Posting of the candidate
SBI Clerk Salary
State bank of India offers a great salary to its candidates in clerical cadre . As per the official notification, SBI Clerk Pay scale is Rs.11765-655/ 3-13730-815/ 3-16175-980/ 4-20095-1145/7-28110-2120/ 1-30230-1310/1-31450.The starting Basic Pay of a SBI Clerk is Rs.13075/- (Rs 11765/- plus two advance increments admissible to graduates)
After 3 years, The basic salary of a SBI Clerk amounts to 13730 after which amount of rs 815/- will be added in his salary as an annual increment for three years. Again after three years, SBI Clerk will be getting basic pay of Rs 16175/-. Maximum basic salary of SBI Clerk is 31450/-
|Total (without HRA)||Rs.18413.37/-|
|Gross with HRA||Rs.19589.87/-|
SBI Clerk Allowances And Other Benefits
Given below are the allowances and benefits that are given to the SBI Clerk:
- Dearness Allowance (DA): SBI gives DA to its employess which is based on the consumer price index (CPI) and is revised after every 4 years.
- House Rent Allowance (HRA): HRA is also given which depends on the city of SBI Clerk’s posting. HRA is higher if it is a Metro city and vice-versa.
- SBI Clerk can also reimburse other allowances like furniture, telephone bills, travel allowance (For official purpose) etc from the bank.
- With the addition of these allowances as stated above, the in hand salary of SBI Clerk may range between 22000/-24000/- depending upon the place of posting.
SBI SO Salary
SBI SO is divided into into 4 Grades which are Junior Management Grade Scale- I (JMGS-I), Middle Management Grade Scale-II(MMGS-II), Middle Management Grade Scale-III (MMGS-III), Senior Management Grade Scale IV (SMGS-IV). Posts of Developer, System / Server Administrator, IT Security Expert, Database Administrator, Cloud Administrator, Network Engineer, Tester comes under Junior Management Grade Scale likewise many other posts in (MMGS-II), (MMGS-III), (SMGS-IV).
Remuneration given to each grade is different as given below:
|Sr No||Grade||Scale of Pay|
|1||Junior Management Grade Scale I (JMGS I)||23700-980/7-30560-1145/2-32850-1310/7-42020|
|2||Middle Management Grade Scale II (MMGS II)||31705-1145/1-32850-1310/10-45950|
|3||Middle Management Grade Scale III (MMGS III)||42020-1310/5-48570-1460/2-51490|
|4||Senior Management Grade Scale IV (SMGS-IV)||50030-1460/4-55870-1650/2-59170|
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Benefits and Perks Of SBI SO
There are various perks and allowances that the above-mentioned posts are entitled to are:
- Dearness Allowance is provided.
- House Rent Allowance is provided.
- City Compensatory Allowance is provided.
- Provident Fund is provided.
- Pension Fund is provided.
- Medical Reimbursement is provided.
- Furniture Allowance is provided.
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