SBI PO Salary in Hand 2024: Candidates who wish to work as probationary officers (POs) at the State Bank of India (SBI) may find the SBI PO Salary to be an alluring opportunity. The starting salary for an SBI PO is Rs. 41,960, plus four advance increments.When deductions are made, a newly hired PO’s net monthly compensation is Rs. 41,960.
Table of Contents
Along with benefits and allowances, the first wage after being chosen as a probationary officer appears attractive. The pay scale, job profile, benefits, probationary term, career growth after selection, and SBI PO salary after two, five, and seven years of appointment are all things that candidates should be more aware of. We have covered every one of these specifics in this essay. So read the page through to learn more.
SBI PO Salary in Hand 2024
In addition to base pay, SBI POs receive housing allowances, disability benefits, health insurance, and other perks. Among the many duties of a probationary officer is managing various activities during the probationary term, including finance, accounting, billing, investing, revenue collecting, etc. One of the most difficult government positions in India is the SBI PO.
SBI PO Salary Structure 2024
Since SBI is one of the leading nationalized banks, the position of Probationary Officer (PO) in the State Bank of India is regarded as the most prestigious and hardest government employment in India. A candidate’s base salary (with four advance increments) is Rs. 41,960 when they are recruited as a PO at SBI.SBI PO’s pay scale is as follows: 36000-1490/7-46430-1740/2-49910-1990/7-63840.
| SBI PO Salary Structure | |
| Basic Pay | Rs. 41,960 |
| Special Allowance | Rs. 6,881 |
| DA | Rs. 12,701 |
| Location Allowance | 700 |
| Learning Allowance | 600 |
| Special Allowance | 6881 |
| Gross Salary | 65,780 |
| Deductions | 12,960 |
| Net Salary | Rs 52,820/- Monthly |
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 all the claimable deductions in the SBI PO Salary structure.
| SBI PO Salary Deductions | |
| Particulars | Amount |
| PF Contribution | Rs. 4,196/- |
| Income Tax | Rs. 3,290/- |
| Professional Tax | Rs. 200/- |
| Contributory Pension Fund | Rs. 5,274 |
| Total Deductions | Rs. 12,960 |
SBI PO In Hand Salary 2024
SBI POs receive a starting salary of INR 52,000 to INR 55,000 per month, based on an INR 41,960 basic wage. The gross annual salary that they receive can vary from 8.20 lakhs to 13.08 lakhs. SBI probationary officers receive additional benefits in addition to their base pay, including CCA, medical, DA, lease rental/HRA, and other allowances. Depending on where the job posting is located, these allowances have different amounts.
SBI PO Salary Slip 2024
The SBI PO salary slip is available below for those who would be chosen to be SBI Bank probationary officers. We have included the probationary officer’s pay stub here. You can better grasp the pay structure, including benefits and allowances, deductions, and the overall compensation of the SBI PO, by referring to the salary slip.
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 Salary Allowances | |
| Allowance | Amount |
| Dearness Allowance | 26% of the Basic Pay |
| City Compensatory Allowance | 3% – 4% depending on location |
| House Rent Allowance | 7% – 9% depending on Place of Posting |
| Furniture Allowance | Rs. 1,20,000 |
| Medical Insurance | 100% covered for employees | 75% covered for dependent family |
| Travelling Allowance | AC 2-tier fare is reimbursed to the employee for official travels |
| Petrol Allowance | Rs. 1,100 – 1,250 |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. | Varies based on Cadre |
SBI PO Salary 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.
| Period | Increment (INR) | Basic Salary (INR) |
|---|---|---|
| First 7 years | 1490 | 36,000 |
| Next 2 years | 1740 | 46,430 |
| Another 7 years | 1990 | 63,840 |
SBI PO Benefits 2024
SBI PO Benefits as a Bank Employee include the advantage of a stable career, employment stability, regular allowances, and raises. Thus, a large number of candidates find this position to be attractive.
The additional benefits of the salary include:
- Medical insurance (100 per cent for self and 75 per cent for family members)
- Cashless treatment in selected medical facilities around the country
- Newspaper allowance
- Books and magazines allowance
- Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
- Entertainment allowance
- Concessionary interest rates for House Loan, Car Loans, and Personal Loans
- New pension scheme contribution
- Leave Travel Concessions (LTC)
SBI PO Salary After 5 Years
Every year, SBI PO’s salary and in-hand salary are subject to increases. Based on the length of service provided, each SBI PO receives a set amount of increment. Whether the time is two years, five years, or seven years, you must be excited to find out how much money you will be paid. The annual CTC will rise as the number of working years rises.The SBI PO will get an expected pay of Rs. 60,270/-per month after five years of employment.
The table below shows the SBI PO Salary increment annually and the final salary.
| Time | Increment | Basic Salary |
| First 7 years | Rs. 1490 | Rs. 36,000 |
| Next 2 Years | Rs. 1740 | Rs. 46,430 |
| Another 7 Years | Rs. 1990 | Rs. 63,840 |
SBI PO Job Profile
The following are the duties of an SBI Probationary Officer regularly:
- Supervision of clerical activities, customer service, processing loans, opening bank accounts, etc.
- Marketing of New Schemes
- Bringing New Business to the bank
- Any other task bestowed by the bank from time to time.
- On-site training, such as at SBI training institutes.
SBI PO Promotions
After completing all stages of the selection process, a candidate is employed as a probationary officer and is subject to a two-year probationary period. If candidates meet the Bank’s evaluation standards, they will be confirmed in the Bank’s service and appointed to the Junior Management Grade Scale-I (JMGS-I). As the bank often conducts promotional exams, candidates stand a good chance of advancing swiftly to the Top Management Grade.The SBI POs are ranked from 1 to 11 in this serial, with 11 being the greatest promotion.
- Assistant Manager
- Deputy Manager
- Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Deputy Managing Director
- Managing Director
- Chairman
Career As an SBI PO
All things considered, the benefits and pay provided by the SBI PO Job profile are highly alluring and promote strong professional advancement. The banking industry posts a respectable amount of openings in order to provide candidates with a solid opportunity. Every year, a large number of applicants apply for the position and go on to lead secure lives with respectable incomes.