SBI PO Salary, Allowances, Compensation up to 12 lakhs per annum

Ever wondered why so many young graduates dream to crack SBI PO? The Answer is because of the employee benefits which are irresistible. The recruitment body has scheduled the PO exam in May/June of this year. Most of the candidates must be aware of the details of these perks. This article provides the details of the SBI PO salary Allowances and benefits. A PO is entitled to enjoy all the facilities like in hand salary, facilities, Allowances, Salary during the training period, DA, HRA, Bonus, TA, Medical Benefits, Gross salary, Salary increments, Grade pay, Career growth opportunities, 7th pay commission effect on salary etc.

SBI PO salary Allowances:

The salary structure for PO is eligible for reimbursement of range of prerequisites, PF, Gratuity, Pension under New Pension Scheme, Medical Leave, Leave fare and other facilities as per the instructions of the Bank issued on a timely basis.

SBI PO Salary Structure and Package 2017:

BI PO Basic Pay	Rs. 27620/- (4 Increments also applicable)
Dearness Allowance (DA)	46.9% of the Basic Pay (Revised Quarterly)
(CCA)	This varies with the place of posting at 4% or 3%.
HRA	9%, 8% or 7% (Depends on the place of posting)
Furniture Allowance	Rs. 120000/-
Medical Insurance	100% medical coverage for SBI employees and 75% for their family members
Travelling Allowance	For official travels, reimbursement of AC 2-tier fare is provided
Petrol	Approx. Rs. 1100-1250
SBI PO Gross Salary with HRA	Total Compensation: 7.55 lakhs and maximum of 12.93 lakhs depending on the place of posting and other factors.

Other benefits and perks to SBI PO:

There are other benefits available for the PO.

Dearness Allowance (DA):

This allowance is modified on quarterly basis during the months of February, May, August, and November depending upon the Consumer Price Index (CPI) as announced by the Government of India. When the inflation is high, DA also increases and when the expansion falls, DA also decreases.

Housing Allowance:

This remuneration contains rental settlement where in the recruited PO gets the house rent allowance as part of the salary package.

Medical Benefits:

SBI certainly has interest in the well being of health of the Pos and their families. SBI provides Medical benefits 100% to the employee and 75% to the family members. The Bank also has tie-ups with the best medical offices around the country and the workers are eligible for cashless treatments at particular health care facilities.

Travel Allowance:

The POs also get personal time off where they get to travel and the allowance is taken care by the SBI. Occasion homes and Bank’s visitor houses are accessible to the POs during their travel.

Leave Policy:

SBI Probationary Officers are given leaves, 33 days of benefits leave and 12 days of easygoing leave every year alongside sick leave and maternity take off. Women and Single Men have the privilege to take a holiday of over 2 years.

Monthly benefits:

Apart from the regular pay structure, SBI PO also qualifies for various perks and prerequisites. Daily paper stipend and other allowances like petrol, entertainment, house upkeep, books and magazine remittance, portfolio recompense, repayment of phone bills are a portion of the perquisites given by the bank to the worker.

Miscellaneous benefits:

The SBI Bank POs would also benefit Housing Loans, Car Loan, and Personal Loans at a concessionary rate of premium. In addition to this, the Bank also advances scholarship to the meritorious children of all the workers. Pension is another blessing that comes in handy post retirement.

Smart Compensation Package:

SBI also made arrangements to offer a smart compensation package which gives the feasibility to workers to adopt particular components of the SBI PO overall salary.