SBI PO Annual Salary

Updated on   by TopRankers

This article about SBI PO Annual Salary will clear your apprehensions about the basic pay, allowances, benefits and perks associated with the Probationary Officer designation at the bank. Many believe that the SBO PO annual salary package can sum up to Rs. 12 lakh in all. Is it really true? Let us find out through this article.

SBI PO Annual Salary, as per the SBI PO official notification

Here is what you must know about the SBI PO annual salary:

BANK PO- ANNUAL SALARY TABLE

TYPE Major A Class Cities* Area – I* Other Areas
Basic Pay 23700 23700 23700
Special Allowance 1836.75 1836.75 1836.75
DA 10,699.90 10,699.90 10,699.90
CCA 870 600
Transport Allowance 0 0 0
Total (without HRA) 37,106.65 36,836.65 36,236.65
HRA 2133 1896 1659
Gross with HRA 39,239.65 38,732.65 37,895.65

 

*NOTE: THE CANDIDATES SHOULD NOTE THAT THE CCA & HRA COVERAGE OF AREAS AND DEFINITIONS ARE DIFFERENT FROM EACH OTHER. WE HAVE HOWEVER, ALIGNED BOTH THESE, SO AS TO GIVE AN APPROXIMATE IDEA OF THE ANNUAL SALARY OF SBI PO AT THREE DIFFERENT LEVELS OF AREAS.

Other allowances and perks given to SBI PO

Apart from the basic salary, other allowances and perks are explained below:

ALLOWANCES FOR SBI PO PERKS FOR SBI PO
Dearness Allowance (DA) Present DA for May 2016- July 2016=  41.90% of the Basic Pay. Leased Accommodation The amount goes directly to the house owner.

This amount varies from place to place.
Special Allowance Added in 10th BPS (w.e.f 01/11/2012).

For Scale-I=  7.75% (on which DA is payable as well).

 Travelling Allowance The officer must have a scooter/bike/car at the place of posting.

Fixed travelling allowance is given, which varies from place to place.
HRA Depends on posting.

Can vary from 9.0% or 8.0% or 7.0%.

 Newspaper Reimbursement Fixed monthly amount for one newspaper.
CCA Depends on posting.

Can be 4% (maximum Rs.870/) or 3%(Maximum Rs.600/-) or 0%.

 Medical Aid Annual amount, as fixed by the bank.

 

The Scale-I officers at the banks are required to make a payment of 10% of the basic salary to Provident Fund. An equal amount of this contribution is done by bank to Employees Provident Fund.

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