SBI PO Salary 2024: Pay Scale, Deductions, and Benefits

SBI PO Salary 2024 is an important factor for candidates applying for the position of Probationary Officer at the State Bank of India.The starting basic pay for Junior Management Grade Scale -1 is INR 48,480 with four advance increments i.e.  48480-2000/7-62480-2340/2-67160-2680/7-85920. The candidates will also get some benefits such as Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance(CCA), Provident fund (PF), Contributory Pension Fund i.e., NPS, LFC, Medical Facility, Lease rental facility etc. and other allowances & perquisites as per rules in force from time to time. 

Check: SBI PO Vacancies

In this article, candidates can find all the details regarding the SBI PO salary slip, salary structure, basic pay, pay scale, in-hand salary, and the additional benefits extended to a Probationary Officer.

SBI PO Salary 2024

The Probationary Officer at the SBI has numerous responsibilities after the training period such as managing multiple operations like accounting, finance, billing, revenue collection, investment, etc during the probation period. 

Note - At initial scale the approximate CTC of Mumbai Centre is 18.67 Lacs.

Following is a table that entails the latest Probationary Officer’s salary structure as per the State Bank of India:

SBI PO Salary Deduction

The SBI PO job comes with numerous perks in terms of deductions that the PO can claim during the time of filling up the ITR and calculating tax liabilities. The in-hand salary of a Probationary Officer at the SBI becomes Rs. 52,820 after deductions from the gross salary which is Rs. 65,780. 

Following is a table that contains information regarding the SBI PO Salary Deductions: 

SBI PO In-Hand Salary

The in-hand salary of a Probationary Officer at the SBI lies between INR 52,000 - INR 55,000 per month with the basic pay being INR 41,960. The range of the annual gross compensation of an SBI PO is INR 8.20 (minimum) Lakhs to INR 13.08 Lakhs (maximum). The SBI Probationary Officers can also avail of medical allowances, lease rental/HRA, CCA, and other reimbursements other than the basic pay. The number and amount of allowances differ according to the location of the job. 

SBI PO Salary Slip 

When preparing for the exam, a candidate's understanding of the SBI PO salary slip and its various other components is crucial. The SBI PO salary slip includes details about the salary structure of the recruited candidate. A reference picture has been attached below for the reference of candidates-

SBI PO Salary Increment

The SBI PO increment is applicable to the basic pay and the in-hand salary every year. An increment of a fixed amount is given to all the Probationary Officers at the SBI based on their service time period. The initial 4 increments of the SBI Probationary Officers are extended to them at the time of joining which makes it unique from other Bank PO exams.

Check the table below for further details-

SBI PO Salary After 5 Years

After five years, the SBI bank PO salary will increase immensely due to the higher initial basic wage. This is a result of the monthly increments in the SBI PO pay scale. Based on the pay structure, the basic SBI PO salary after five years is listed below-

• Basic Pay SBI PO Salary After Five Years: INR 41,960
• Net Pay SBI PO Salary after 5 Years in Hand: Approximately INR 60,270

SBI PO Allowances and Perks 2024

The SBI PO allowances comprise numerous perks such as reimbursements for house help, telecom bill, petrol, and newspaper, which costs approximately INR 10,000. If the candidate has qualified JAIIB (Junior Associate of the Indian Institute of the Bankers) and CAIIB (Certified Associate of Indian Institute of Bankers), they can get an annual increment for each qualification, respectively.

Other allowances offered to the Probationary Officers at the SBI include hill area allowance, special allowance, entertainment allowance, concessionary interest rates for house loans, car loans, personal loans, and sensitive position allowances that differ from location to location of the job posting. 

Check the table below for details on SBI PO Salary Allowances:

SBI PO Job Profile 2024

The SBI PO job profile requires the candidate to undergo a probationary period or training of 2 years. During this period, the SBI Probationary Officer is required to handle various roles and responsibilities. Some of them include -  

• Working as a public relation manager and handling customer problems and complaints
• Working as a manager and supervising clerks, making decisions about the overall growth and development of the bank
• Verifying the tasks of the clerks at the SBI 
• Awareness of the latest developments in the banking industry
• Supervising the issuing of chequebooks, ATM cards, demand drafts, and other documents

SBI PO Job Promotion 2024

The Probationary Officer at the State Bank of India gets various perks, benefits, and allowances. In terms of career growth, the post of probationary officer at SBI is one of the most coveted jobs. There are numerous growth opportunities in this field.

Below is a list of designations for promotions at the State Bank of India:

• Scale I (PO - Assistant Manager)
• Scale-II (Manager)
• Scale III (Senior Manager)
• Scale IV (Chief Manager)
• Scale V ( Assistant General Manager)
• Scale VI ( Deputy General Manager)
• Scale VII ( General Manager)
• Chief General Manager
• Executive Director
• MD & CEO

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