SBI PO Salary In Hand 2020: Pay Scale After 7th Pay Commission

sbi po salary

SBI PO is a prestigious Exam and as State Bank of India is going to release its notification soon, we have brought you with the details regarding the SBI PO Salary, Job Profile, and Vacancy in this article. If you are a banking aspirant and wondering what is Salary of SBI PO?, then go through the complete article to know the SBI PO CTC, SBI PO In Hand Salary after 7th Pay Commission, allowances, and many more.

  • The SBI PO In Hand Salary is fixed at Rs.27620 per month which is inclusive of various other allowances.
  • SBI PO Job Profile includes managerial tasks, such as supervision of clerical work, making certain decisions, management of cash balance.
  • As per the reports, the SBI PO Starting Salary starts from Rs 25000 per month. Apart from the Basic SBI PO Bank Salary, the employee is entitled to various other allowances and perks.
  • We will update you with the SBI PO Vacancy details as soon as it is released in the official notification soon

SBI PO Salary In Hand 2020

SBI is going to release its SBI PO 2020 notification on the official website soon. Knowing about the salary, job profile, and allowances will help you decide whether to apply or not for the vacancies this year. After all the deductions, the Officers will get an in-hand salary ranging from Rs. 42,000 to Rs. 44,000. This salary is subject to change depending on the location of the posting. The Probationary Officer will recieve a number of allowances such as Dearness Allowance, Housing Allowance, etc. The PayScale is 23700-980/7-30560-1145/2-32850-1310/7-42020

  • SBI Offers the highest salary to their PO as compared to other PSB’s PO.
  • It is a golden opportunity for most of candidates looking for a career in the banking sector. SBI offers handsome SBI PO Salary and satisfying job profile.
  • The article has complete details regarding the SBI PO salary structure 2020

SBI PO Salary Structure 2020

Along with the SBI PO In Hand Salary, there are other sections in the salary structure. The candidates must check the table below for the complete information regarding the SBI PO Salary Structure 2020 from the table below. Know the perks and allowances as well. In the SBI PO Salary Slip received by employees every month includes all the details about In Hand Salary, Allowances, and other deductions.

Salary Structure Amount
Basic Pay Rs.27620/- (4 Increments also applicable)
Pay Scale  23700-980/7-30560-1145/2-32850-1310/7-42020
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
Gross Salary with HRA Total Compensation: 7.55 lakhs and a maximum of 12.93 lakhs depending on the place of posting and other factors.

SBI PO Salary Benefits, Allowances, and Perks

Along with the SBI PO In Hand Salary, the SBI Probationary Officer has certain salary benefits, allowances, and perks. Let us go through all the SBI PO allowances, benefits and perks one by one-

Dearness Allowance (DA):

Dearness allowance is modified every Quarterly basis in the month of February, May, August, and November on the basis of Consumer Price Index (CPI) as announced by the Government of India. DA increases with the increase in inflation and vice-versa.

Housing Allowance:

The remuneration covers rental settlement as well. The Officer gets the house rent allowance as part of the salary package.

Travel Allowance:

POs also get time off to travel and the allowances for the same are looked after by the State Bank of India. Occasional Home and Work visits are taken care of by SBI. Along with the SBI PO In Hand Salary, the benefits and perks that the PO will recieve are as follows-

Medical Benefits:

Bank certainly take interest in the well being of POs and their family members. SBI provides 100% medical benefits to the employees and 75% benefits to their family members. The bank also has several tie-ups with various Medical offices and hospitals across the country and the individuals working as PO under SBI can certainly take advantage of the cashless treatment at all those medical Institutions.

Monthly benefits:

Apart from the regular pay structure, he/she will also eligible for various perks and prerequisites. The bank offers 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 prerequisites to the employees.

Miscellaneous benefits:

As part of SBI PO Salary, the SBI Bank POs would also get the benefits of  Housing Loans, Car Loan, and Personal Loans at a concessionary rate of premium. In addition to this, the Bank also awards the scholarship to the meritorious children of all the workers. Pension is another blessing that comes in handy post-retirement for the Employees who joined prior to 2010-

  1. General Leave Policy-A SBI Probation Officer receives 12 casual Leaves,30 privilege Leaves and 15 medical Leaves per year. Maternity Leave will be provided for 6 months for women.
  2. Travel Leave Concession -This concession can be availed by the selected SBI PO in a block of 2 to 4 years. The SBI PO will be provided Guest House for themselves and the family anywhere in the country if required.
  3. Personal Development and Consistent Training-State Bank of India provides for regular training opportunities so that the  officers remain updated with banking nuances
  4. SMART Compensation -The officers are provided with packages where the officer can choose to monetize certain parts of the package.

SBI PO Annual Package

As per the SBI PO Notification 2020, the SBI PO Annual Package lies from Rs.8.20 lakhs to Rs.13.08 lakhs depending on factors such as place of posting, etc.

SBI PO Salary Slip 2020

The SBI PO Salary Slip contains Personal Details such as Employee Number, Name, Position, PF Index Number, DOB, Date of Joining, etc., Earning Details such as Basic Pay, Dearness Allowance, Special Allowance, etc. and Deduction details such as Employment PF Contribution, Contributory Pension Fund. Go through the image below to know how the SBI PO Salary slip looks like-

SBI PO Job Profile 2020

The SBI PO Job Profile includes a number of tasks such as banking, administration, and managerial tasks. Let us see these details-

  • The SBI PO is subject to a probation period of 2 years where the officers will be given training on various aspects of banking
  • The Training in the Probation Period will include Retail Banking, Advances, Rural Banking and more
  • Post Probation, the officer undergoes a screening procedure to check eligibility for the post of Officer Middle Management Grade Scale 3
  • On-site training in branches to train about banking procedures in the branch itself where he/she is posted
  • Planning, Budgeting, and Marketing
  • Issuing ATM
  • He/She has to do all Clerical Tasks and verification of clerical tasks done by employees etc.
  • He/She has to work as a Public Relation Officer

SBI PO Promotions and Career Growth 2020

The hierarchy in the SBI PO Promotions and Career Growth are as follows- Assistant Manager(Probationary Officer)->Deputy Manager->Manager->Chief Manager->Assistant General Manager-> Deputy General Manager->General Manager->Chief General Manager->Deputy Managing Director->Managing Director->Chairman

SBI PO Salary after 5 years

This will be the scenario of SBI PO Salary after 5 years-

  • Annual Increment: increase in Annual Increment may bring an increase in salary
  • Dearness Allowance for four times average in a year.4% TO 5% Hike every year can be expected. In 5 years,20 DA the officer will recieve
  • If the PO gets promotion in his/her job, the salary scale may increase from Scale 1 to Scale 2 pay scale
  • The benefit of 2 Bipartite Settlements in 5 years
  • 2nd Wage Revisions may increase the salary in 5 years

SBI PO Vacancy 2020

The SBI PO Vacancy 2020 will be released along with the 2020 Notification. You can expect around 2500+ Vacancies in the upcoming Notification soon. We will update you with the vacancy details as soon as it is released in the official website.

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