SBI PO Salary 2021: The State Bank of India is the biggest government bank in India, which is why a large number of people aim for the post of Probationary Officer in SBI in their career. However, It is ideal to know all about the salary structure, in-hand salary, perks, incentives, and other details before a candidate applies for the post of SBI PO. The job of SBI PO is deemed to be desirable because of the handsome package that comes with a wide array of benefits that are associated with a secure government job.
As per the latest notification issues for SBI PO Recruitment, the updated Basic Salary of a Probationary Officer in SBI is INR 41,960, which is then further complimented by DA (Daily Allowance), HRA (House Rent Allowance), location allowance, learning allowance and special allowance. However, that is not all, as this salary faces several deductions and is increased over time with increments as well.
SBI PO is known to be one of the most popular and secure banking jobs that provide attractive pay scales and abundant growth to candidates during the course of their careers. The yearly release of this job opportunity and high package compared to other nationalized banks are the reason a lot of candidates compete in this exam. Candidates must understand SBI PO Salary 2021 properly to understand the reason for the large number of applicants for the exam. This article contains details such as pay scale, allowances, additional perks & benefits, job profile, and career growth of SBI PO. Read on to find out!
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Candidates can check our page for Sarkari Naukri for the latest updates on government jobs which will help them to know which are the ongoing and upcoming Sarkari Exam. Based on the information, they can check their eligibility related to age and academic qualification before they apply for the various government jobs posts. Moreover, candidates can also check the Sarkari Result to know their status of qualifying for the exam for which they have appeared.
SBI PO Salary 2021: Overview
Before getting into the details, let’s have an overview of the SBI PO exam from the table below.
|Exam Conducting Authority||State Bank of India|
|Name of the Post||Probationary Officers|
|Exam Stages||Prelims, Mains, and Interview|
|Job Type||Central Government Job|
SBI PO Salary 2021: In-Hand Pay
The SBI PO salary is set as per the Bipartite Settlement. The SBI PO basic pay scale is Rs. 41960-980 (7) – 48820 – 1145 (2) – 51110 – 1310 (7) – 60280 as applicable for Junior Management Grade Scale I. The starting basic pay will be Rs. Rs.27,620/- with 4 advance increments. Apart from the basic pay, candidates will also be eligible for various allowances and other benefits. Considering basic pay and allowances, the total in-hand salary will be around Rs. 40000/- to Rs. 45000/- based on the location of posting and other factors.
|Basic Pay||INR 41,960/- (with 4 advance increments)|
|1st Increment||Increment of Rs. 980/- for the next 7 years|
|2nd Increment||Thereafter, Increment of Rs. 1145/- for the next 2 years|
|3rd Increment||Thereafter, Increment of Rs. 1310/- for the next 7 years|
Check the year-wise basic pay and annual increment from the table below:
|Period||SBI PO Basic Salary||Increment|
|For the first 7 years||Rs. 41,960/-||980|
|For the next 2 years||Rs. 48,820/-||1145|
|Another 7 years||Rs. 51110/-||1310|
SBI POs are also eligible for D.A, H.R.A/Lease Rental, C.C.A., Medical and other allowances and perquisites as per the rules in force from time to time. The total SBI PO Salary per annum on a CTC basis will be a minimum of 8.20 lakhs and a maximum of 13.08 lakhs (depending on your place of posting and other factors).
According to the official notification, SBI may offer, subject to necessary approvals, a SMART Compensation Package which would enable candidates a choice to monetize specific elements of the SBI PO salary package.
SBI PO Salary 2021: Allowances
Check SBI PO salary allowance details are provided below:
|Dearness Allowance (DA)||The DA is calculated based on the Consumer Price Index (CPI) and is revised every quarter. You can expect your DA to be around 26% of the Basic Pay. However, it will go up or down based on inflation.|
|City Compensatory Allowance (CCA)||This is calculated based on your city of posting and ranges between 3 to 4 % of the Basic Pay.|
|Leased House Accommodation/House Rent Allowance (HRA)||This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in a city like Mumbai).|
|Travel Allowance (TA)||SBI reimburses the travel cost for official travel.|
|Medical Insurance||SBI provides 75% insurance for families and 100% for the employee.|
|Furniture Allowance||Rs 1,20,000 for the purchase of furniture.|
|Loan Benefits||Employees get a discount/ low interests rates on loans.|
|Petrol||Rs. 1100 – Rs. 1250|
SBI PO Salary Official Notice
Check the official notice on SBI PO salary details from below:
SBI PO Salary 2021: Benefits
Apart from the above-mentioned allowances, an SBI PO 2020-21 also gets the following benefits:
- Medical insurance (100 per cent for SBI PO 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
- Leave Fare Concession/Home Travel Concession
- Concessionary interest rates for House Loan, Car Loan, and Personal Loan
Collectively, the job offers a good salary, career growth and social status, which candidates seek.
SBI PO Career Path 2021
Candidates selected through the SBI PO exam will have to go through a probation period of 2 years. During probation, candidates will be assessed for their performance. Candidates who will qualify in the assessments determined by the bank will be confirmed as Junior Management Grade Scale I. Thereafter, as per their performance, work experience and other parameters, candidates will be promoted to higher posts. Check the career path that follows the post of SBI PO is provided below:
- Deputy Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
SBI PO Job Profile, Roles & Responsibilities
SBI PO job role includes supervising clerical activities, customer service, processing loans, opening bank accounts, etc. They will also learn about various fields of banking like Retail Banking, Rural Banking, etc.
Apart from this kind of on-site training, Probationary Officers also get trained at SBI training institutes. SBI PO, which is Junior Management Grade Scale-I, after completion of the probation period, will undergo screening, and after qualifying it, they will be promoted to Officer Middle Management Grade Scale-II.
Now you know everything about SBI PO Salary 2021. Focus on your preparation now. You must work on your test-taking skills like time management and question selection because these skills play a vital role in this exam. Also, you must take mock tests and work on your weaknesses. Embibe provides free SBI PO Mains Mock Tests which we recommend you to take regularly.
FAQs On SBI PO Salary 2021
The frequently asked questions related to SBI PO 2021 Salary are given below:
|Q. What is the in-hand salary of SBI PO? |
A. The in-hand salary for a Probationary Officer at SBI is somewhere between Rs.45,000 to Rs.50,000 depending on the job location and other factors.
|Q. What is the starting Basic Pay for SBI PO? |
A. The SBI PO Basic Pay is INR 41,960/- at joining. For detailed information and increment read this article
|Q. Which bank PO gets the highest salary? |
A. SBI offers the highest salary to its PO. Along with high basic pay, the recruited candidates are also eligible for various perks and allowances
|Q. What are the other benefits for SBI PO apart from salary? |
A. A Probationary Officer is eligible for the following benefits:
– Dearness Allowance (DA)
– City Compensatory Allowance (CCA)
– Leased House Accommodation / House Rent Allowance (HRA)
– Travel Allowance (TA)
– Furniture Allowance… For more details read this article.
|Q. What is the highest rank SBI PO can get in his/her bank career? |
A. SBI PO can be promoted to the highest post of Chief General Manager over a period of time.
|Q. What is the medical allowance mentioned in the SBI PO salary?|
A. As per the perks given by SBI, medical allowance gives 100% reimbursement of any medical treatment taken by the employee himself and 75% reimbursement for any medical treatment received by the employee’s family members.
|Q. What is the training period for SBI PO? |
A. The probation period for SBI PO is 2 years.
We hope this detailed article on SBI PO Salary 2021 helps you. If you have any queries, ask in the comment section below. We will get back to you at the earliest.1752 Views