State Bank of India is the most reputed and scale-wise largest bank in India. Not only SBI PO salary but also the reputation matters while working for SBI. State Bank of India has 14 regional centers and 57 zonal offices in India. Since SBI is operational in every part of the country, the recruitment of the bank is largest as compared to any other bank. Established in 1806 in Kolkata, it was named as Bank of Bengal. The bank was later merged to ‘Imperial Bank of India’ during 1921 when it has just 3 branches in Bengal and Mumbai. Post independence, Reserve Bank of India acquired Imperial Bank of India in 1955 and renamed it to State Bank of India. Currently, SBI has 137 offices in 32 countries worldwide. If you are aspiring to be a part of SBI Legacy, you should be aware about these facts.
There is no doubt that SBI faced a tough competition in the banking sector but always emerged as country’s best bank. It has also won BEST Bank award by Asia money FX Poll of Polls 2014.
SBI PO Salary
₹7.55 lakhs and maximum of ₹12.93 lakhs depending on the place of posting and other factors.
State Bank of India’s recruitment process is separate from other banks recruitment process. SBI PO salary is best-in-class entry level opportunity for the candidates. Hence, there is always a tough competition for candidates while applying for this position.
In this article, we are going to let you know what is the salary you get when you clear this prestigious recruitment test of SBI Probationary Officer. We will not just talk about salary but also some of the frequently asked questions. We will also provide all the details related to salary structure, allowances and perks associated with the designation. Keep reading to know everything about SBI PO Salary.
After clearing the SBI PO examination, every SBI PO has to go through a ‘training period’. This training period helps the officer to get familiar with his/her responsibilities. It includes workshops, skills enhancement assessments etc. A SBI probationary officer enjoys reimbursement of various benefits like PF, medical and leave fare etc.
The following table is a quick representation of the salary structure and allowances associated with the designation.
|SBI PO Salary Package 2017 in India|
|SBI 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.|
Allowances and Perks
- Medical Benefit – SBI provides 100% medical allowance to the officer and 75% to his/her family members.
- Dearness Allowance – DA offered to the officer is based on various factors like Current Price Index (CPI). Right now it is more than 100% of basic pay.
- Travel Allowances – SBI PO gets great travel benefits and allowances like reimbursement of AC 2-tier fare etc.
- Leave Allowances – Officer enjoys a generous leave policy by the bank. It includes 33 benefits leave and 12 easy going leave every year. Also keeping aside Sick leave and maternity leave.
- Other benefits – The SBI PO also gets monthly reimbursement of around INR 7000 on petrol, books and magazine,entertainment, phone bills etc. Bank also takes care of providing scholarship to bright children of its employees.
- Loan benefits from Bank – SBI ensures that the officer gets loan benefits for housing, car or personal issues with reduced rate of premium.
- SBI PO doesn’t need to visit door to door.
- The officer can en-cash privilege leaves.
- Bank offers a stable working environment to its employees.
Opportunities associated with SBI
SBI offers great growth opportunities to the officers with quick promotional cycles. Mrs. Arundhati Bhattacharya started her career in 1977 as an SBI PO and is a perfect example of how one can reach new heights while working for SBI. You can learn and become one of the top management individuals in the bank, provided you are dedicated and extraordinary in performance.
This is our guide to SBI PO salary, compensations and perks associated with the designation. You can download the recruitment form and details associated with the 2017 examination here. Furthermore, you can let us know your suggestions, questions or feedback at firstname.lastname@example.org. All the best!