SBI PO Salary 2024, Revised Structure & Allowances, Job Profile and Promotion: The post of Probationary Officer is one of the most desirable, respectable and sought-after jobs in India. PO works in various domains like accounting, finance, billing investment, revenue collection, etc. The basic salary and additional pays and announcements for the Probationary Officer of State Bank of India are very attractive which attracts thousands of job seekers towards this wonderful opportunity. Among the various jobs in the banking sector, SBI PO is one of the most wanted jobs for the interested candidates as it offers salary and growth opportunities throughout their career. Here in this article we have provided every important information about SBI PO Salary 2024.
SBI PO Salary 2024
All the important information about the State Bank of India Probationary Officer Salary Structure is released by the State Bank of India through the notification PDF on its official website. Candidates who are interested to join State Bank of India as Probationary Officer are requested to read the notification PDF thoroughly. Those who will join SBI as a PO will get the basic salary as well as various allowances and facilities which is Rs 41,960. The number of candidates interested in this job will increase significantly after the release of the notification PDF for salary related information. Candidates who are not aware of the salary and allowances of SBI PO should read our article thoroughly.
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SBI PO Bank Salary Structure
The basic pay structure of SBI PO post is Rs 41960 with four advance increments. The pay of a probationary officer after four advance increments is 36000-1490 / 7-46430-1740 / 2-49910-1990 / 7-63840 compensation size as per revised bilateral agreement. In simple words the basic pay of PO will be Rs 36,000 with an increment of Rs 1490 for the next 7 years. In the next year the basic pay will be 46430 and for the next 2 years there will be an increment of 1740 and so on. The highest basic pay of PO post in SBI bank can go up to Rs 63,840.
| SBI PO Salary Structure in India | |
| Parameters | Amount (Indian Rupees) |
| Basic Pay | Rs. 41,960 |
| Special Allowance | Rs. 6,881 |
| DA | Rs. 12,701 |
| Location Allowance | Rs. 700 |
| Teaching Allowance | Rs. 600 |
| HRA | Rs. 2,937 |
| gross salary | Rs. 65,780 |
| Deductions (PF/Income Tax/Professional Tax/Pension) | Rs. 12,960 |
| net salary | Rs. 52,820 |
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SBI PO Salary Cuts
From the basic salary of Rs 65780/-, monthly deductions will be made such as PF contribution Rs 4196/-, Income Tax Professional Tax contribution Pension Fund etc. After all deductions, the Probationary Officer will get a salary of Rs 52820/- in hand. All the deductions are given in the table below.
| SBI PO Salary Cuts | |
| Description | 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 Bank In-Hand Salary
With a basic pay of Rs 41960, the Probationary Officer will get a salary of Rs 52,000 to Rs 55,000 per month. The gross compensation will range from Rs 8.2 lakh to Rs 13.08 lakh annually. Apart from the basic pay, the Probationary Officer will get lease rental HRA, DA, medical, CCA and other allowances. The amount of allowance will depend on the location of the job posting.
SBI PO Salary Hike
Probationary Officers in SBI will get annual increment which is fixed for the first 7 years and then for the next 2 years and then for the next 7 years. The increment years are given in the table below.
| SBI PO Year Wise Salary Increment | ||
| Duration | Salary increment | Basic Pay |
| The first 7 years | Rs. 1490/- | Rs. 36,000/- |
| next 2 years | Rs. 1740/- | Rs. 46,430/- |
| The next 7 years | Rs. 1990/- | Rs. 63,840/- |
SBI PO Allowances
Various allowances like Dearness Allowance, City Compensatory Allowance, House Rent Allowance, Furniture Allowance, Medical Allowance, Medical Insurance, Travel Allowance. Apart from this, Petrol Allowance, Newspaper Allowance, Entertainment Allowance etc. come with the basic pay for SBI PO post. Details about the allowances are given in the table below.
| SBI PO Salary Allowances | |
| allowance | amount |
| dearness allowance | 26% of 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% cover for employee | 75% cover for dependent family |
| Travel Allowance | AC 2-tier fare is reimbursed to the employee for official travel |
| Petrol Allowance | Rs. 1,100 – 1,250 |
| Newspaper Allowance, Entertainment Allowance, Book Allowance, etc. | Varies depending upon the cadre |
SBI PO Allowances
Along with attractive basic pay and allowances, SBI PO is also given additional perks which are mentioned in the table below.
| advantage | Description |
| Contributory Pension Scheme/New Pension Scheme | Employees contribute to the pension scheme, which ensures financial security after retirement. |
| Medical assistance | Provides medical coverage for both the employee (100%) and their family (75%). |
| LTC(Leave Travel Concession) | Allows employees to receive travel benefits during their leave period. |
| Home Travel Concession/Leave Fare Concession | Provides concession on travel expenses for employees and their families. |
| Concessional interest rates for loans | Offers concessional interest rates on housing, car and personal loans to employees. |
| Basic Pay | INR 41,960 (with 4 advance increments). Pay scale is INR 36000-1490/7-46430-1740/2-49910-1990/7-63840 |
| dearness allowance | DA is revised every quarter and is calculated based on CPI (Consumer Price Index). Currently, DA is 46.9 percent of basic pay |
| City Compensatory Allowance (CCA) | CCA is 4% or 3% depending on the place of posting |
| leased house accommodation | SBI POs are entitled to take a house on lease. The amount varies according to the posting. It ranges between a minimum of Rs 8000 (in rural areas) and a maximum of Rs 29,500 (in Mumbai). |
| Furniture Allowance | 12,0000 for the purchase of furniture |
| medical insurance | 100 per cent medical coverage for SBI employees and 75 per cent for their family members |
| Travel Allowance | For official tours, AC 2-tier fare reimbursement is provided |
| petrol | 50 litres (for 2 wheeler) or 55 litres (for 4 wheeler) or around Rs 1100-1250 if you don't have 2/4 wheeler (conveyance allowance) |
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SBI PO 2024 Job Profile and Promotion
Candidates who get selected for the State Bank of India Probationary Officer post will be called for training to prepare them for the job. And they will learn about basic banking knowledge to join as Probationary Officer. All the selected candidates have to sign a bond of Rs.200000 and serve in the bank for a minimum time frame of 3 years at the time of joining. After the probation period, the bank will promote the selected candidates to the post of Junior Manager Grade Scale 1. After serving as Probationary Officer for 2 years the candidates will become eligible for promotion to various posts mentioned in the table below.
| job profiles | Description |
| Probationary Officer (PO) | Entry level position where candidates are trained in basic banking knowledge. |
| Junior Manager Grade Scale I | After the probation period, the PO is confirmed as Junior Manager Grade Scale I (JMGS-I). |
| Assistant manager | Entry-level managerial position responsible for supervising teams and performing operational functions. |
| Deputy Manager | Mid-level managerial position that is responsible for overseeing specific departments or functions within a bank. |
| Manager | Mid-level managerial position with increased responsibilities in decision-making and team management. |
| chief Manager | Senior managerial position with leadership responsibilities and involvement in strategic planning. |
| Assistant General Manager | Senior leadership position overseeing multiple departments or areas within a bank. |
| Deputy General Manager | Executive-level position responsible for implementing strategic initiatives and driving organizational growth. |
| General Manager | Executive level position with significant authority and responsibility in leading the operational and strategic direction of the Bank. |
| Chief General Manager | Senior executive position responsible for managing key aspects of the Bank's operations and contributing to high-level decision making. |
| Deputy Managing Director | A top-level executive position with broad oversight over various departments and functions of the Bank. |
| Managing Director | The top-level executive position responsible for driving the overall direction of the bank and ensuring financial stability and growth. |
| chairman | The highest position in the bank's hierarchy, responsible for providing leadership to the board of directors and representing the bank's interests externally. |
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