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SBI PO Salary 2024: In Hand Salary, Job Profile and Perks

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SBI PO Salary 2024: SBI PO in hand salary ranges between INR 52,000 to 55,000 per month with the basic pay of INR 41,960. SBI PO will get a basic salary of INR 36000 with an increment of INR 1490 for the next 7 years, followed by a basic of INR 46430 with an annual increment of INR 1740 for the next two years, and so on.

SBI-PO-Salary-2024

This is the main reason that, every year year lakhs of candidates appear for the bank po exam to get a job in one of the most prestigious banks of India. The full form of SBI PO is Probationary Officer. Let’s know about SBI PO In hand salary, salary structure, and the salary slip of SBI PO.

SBI PO Salary 2024

The SBI PO receives a total In-hand salary of INR 52,820 to INR 55000 per month in 2024. The initial basic salary offered to an SBI Probationary Officer is INR 41,960 with 4 advanced increments. As per the revised Bipartite Settlement, there will be four advance increments in the compensation of SBI PO Officer.

SBI PO will get a basic salary of INR 36000 with an increment of INR 1490 for the next 7 years, followed by a basic of INR 46430 with an annual increment of INR 1740 for the next two years and so on. Overall, the maximum basic salary of SBI can be INR 63840. Sbi has recently revised the salary structure of SBI PO in 2024 as per Bipartite Settlement. Along with this, SBI Probationary Officer receives some additional perks and allowances.

SBI PO In-Hand Salary 2024

The in-hand salary of SBI PO is 52,000 to 55,000 with other allowances, special allowances, HRA, and other perks. The basic pay of SBI PO is INR 41,960 per month in 2024. A part from this, SBI Probationary Officers are eligible for Lease Rental/ HRA, DA, Medical, CCA and other allowances with the basic pay. So after all calculation, net salary will remain 52,000 to 55,000 INR per month.

SBI PO Salary Structure

The initial in hand salary of SBI PO ranges between RS. 52000 to RS. 54000₹. The total gross compensation received by SBI PO ranges between 8.20 Lakhs (minimum) to INR 13.08 lakhs (maximum) per annum. Also to note that net in-hand salary of SBI PO varies upon the location posting and the state all over India. Here is the revised salary structure of SBI PO in 2024 with basic salary, increment and in hand salary of SBI PO mentioned in below table. Candidates are requested to check this post regularly to have the latest revision made to the SBI PO Salary 2024.

SBI PO Salary Structure 2024

Parameters

Amount (INR)

Basic Pay

INR 41,960

Special Allowance

INR 6,881

DA

INR 12,701

Location Allowance

INR 700

Learning Allowance

INR 600

HRA

INR 2,937

Gross Salary

INR 65,780

Deduction (PF/Income Tax/Professional Tax/Pension)

INR 12,960

Net In-hand Salary

INR 52,820

SBI PO Salary Slip 2024

The State Bank Of India offers a very decent salary to the PO of SBI. This is the main reason that every banking aspirants want to have a job in SBI as the salary and benefits provided by other bank is less than that of SBI PO Salary. For example, IBPS PO Salary is 3/4th as compare to salary of SBI PO in 2024. Here is the proof of SBI PO Salary Slip which help aspirants to have a basic idea about SBI PO Salary per month.

SBI PO Salary Slip 2024

SBI PO SALARY Slip 2024

SBI PO Salary Deduction

As the gross pay of an SBI PO is INR 65,780 per month. But after few deductions, SBI PO receives an in-hand salary of INR 52,820 per month in 2024. The The deduction includes PF contribution, Income Tax, Professional tax and much more. Here is the various deduction details calculated in the total gross salary of SBI PO.

SBI PO Salary Deduction 2024

Particulars

Amounts

PF Contribution

INR 4,196/-

Income Tax

INR 3,290/-

Professional Tax

INR 200/-

Contributory Pension Fund

INR 5,274

Total Deductions

INR 12,960

SBI PO Pay Scale

Each year, SBI POs receives a raise in both base pay and cash in hand. This raise in basic pay is fixed for a particular period. So the salary of SBI PO is the main reason that every banking aspirants appear for the SBI PO Exam. Here is the salary increment details of SBI PO as per the time duration.

SBI PO Salary Increment 2024

Period

Incremement

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 Allowances

The SBI PO Salary is combination of a basic salary and specific allowances that makes the employee’s net income. These allowances are given from government to each employee as a part of the salary renumeration. Alowances include like dearness allowance, rent allowance, furniture allowance and others. Depnding upon the rank of the employee within the bank these allowances also increases with time that affects the net salary. the following are the details of the subsidies that come with the SBI PO Salary.

SBI PO Year Wise Increments

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

Travelling Allowance

AC 2-tier fare is reimbursed to the employee for official travels

Medical Insurance

100% covered for employee | 75% covered for dependent family

Petrol Allowance

Rs. 1,100 – 1,250

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Varies based on Cadre

SBI PO Perks

There are a lot of benefits included with the SBI PO salary that makes the job of SBI PO super attarcative for every aspirants. Here are various perks and benefits of SBI PO explained in below points.

  • Contribution Pension Scheme/New Pension Scheme.
  • Home Travel Concession/ Leave Fare Concession.
  • LTC(Leave Travel Concession)
  • Concessional interest rates for Housing/Car/Personal Loans.
  • Medical Aid for self (100%) and for family (75%).

SBI PO Exam 2024 – Latest Updates

SBI PO Exam 2024

SBI PO Notification 2024

Download

SBI PO Syllabus 2024 – Latest

Download

SBI PO Previous Year Question Paper

Download

SBI PO Final Result 2024

Download

SBI PO Interview Experinces

Download

SBI PO Job Profile

SBI Probationary Officer receives a mandatory training of 4/6 weeks after the selection in SBI PO Final Result. They will be given a wide range of responsibilities upon starting the work. The following are examples of duties that fall under the purview of an SBI PO.

At the time of joining, the candidates have to sign a total bond of Rs. 2 lakhs and serve the bank for a minimum of three years. After the probation period, the candidates will join as Junior Manager Grade Scale I (JMGS-I) in the State Bank Of India. Here are some of the roles and responsibility governed by SBI Probationary Officer.

  • Supervise clerical workers
  • Oversee the growth of the bank
  • Do other managerial functions as needed.
  • Routinely troubleshoot and address customer concerns.
  • Make sure to double-check everything the secretaries do.
  • Responsible for issuing a wide variety of banking products and services, including ATM cards, checkbooks, demand drafts
  • Other responsibilities given to them by their superiors.

SBI PO Promotion

As we know that SBI PO salary is one of the most attractive salary as compare to other banking job. So there are so many promotions provided to SBI PO based on the hierarchy of SBI Job. SBI conducts some internal exams for promotion of SBI PO every year. This gives SBI PO a chance to get a promotion easily based on their performance in work and in the exam. So there is a decent career growth overall in SBI JOB. Here is the SBI PO Promotion Hierarchy in State Bank Of India.

1. Assistant Manager

2. Deputy Manager

3. Manager

4. Chief Manager

5. Assistant General Manager

6.Deputy General Manager

7. General Manager

8. Chief General Manager

9. Deputy Managing Director

10. Managing Director

11. Chairman

SBI PO Salary 2024 – FAQs

What is the salary of SBI PO per month?

The SBI PO receives a salary of RS. 52000 to RS. 55000 ₹ per month along with various perks and benefits.

What is the starting salary of SBI PO?

The starting SBI PO salary is Rs. 41960/- (basic pay) with four advanced increments yearly.

Which bank PO gets the highest salary?

The heighest salary to a bank po is given by State Bank Of India.

What is the highest rank in SBI PO Job?

Chairman is the highest rank which a SBI PO can get after promotion.

What is the salary of SBI PO freshers?

The SBI PO Freshers will get a total salary of INR 52000 to INR 55000 Rupee per month in 2024.

Is SBI PO a high paying job?

Yes, SBI gives a very decent salary of INR 52000 to INR 55000 per month to Probationary Officer along with some additional perks and benefits.

Can SBI PO earn 1 lakh per month?

In starting, SBI PO doesn’t get a salary of 1 lakh per month, but after some increment in new few years, they can easily get the salary of 1 lakh per month.

Is SBI PO exam very tough?

SBI PO Exam is not that tough, if aspirants can practice the questions with good resources. We have given the best resources to prepare for SBI PO Exam 2024.

Is bank PO a stressful job?

Bank PO is not a stressful job as Bank Po salary is very high as compare to other job.

What is the SBI PO highest salary?

The highest salary of SBI PO is not limited as the salary of SBI PO depends on position. An SBI PO promoted to Chairman can earn up to 2 to 5 crores per year.




Last Updated : 30 Jan, 2024
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