SBI PO Salary 2019:
State Bank Of India (SBI) has announced recruitment notification for Probationary Officers (SBI PO) 2019 for a total of 2000 vacancies. Candidates can start applying for SBI PO 2019 from 2nd April 2019 to 22nd April 2019. Every year lakhs of people appear for this exam to get into banking sector.
Candidates appearing for this exam will be keen to know about the salary after they get selected to the exam. In this blog we will discuss about the salary structure, allowances, Career progression and other benefits of SBI PO.
Download SBI PO 2019 Notification PDF
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SBI PO 2019 Salary Structure:
| Starting Basic Pay | 27,620/– (With 4 Advance Increments) |
| Pay Scale | 23700- 980/7- 30560- 1145/2- 32850- 1310/7- 42020 |
| Grade | Junior Management Grade Scale-1 |
| Total Compensation Per Annum | Min- 8.20 lacs & Max- 13.08 lacs |
Download SBI PO Previous Papers PDF
SBI PO Salary In Hand After 7th Pay Commission:
Banks follow Bipartite settlements. Therefore, there will be no change in the SBI PO In hand salary after 7th pay commission. The 11th Bipartite statement is expected from First November 2019.
Gross Salary:
Rs. 51,000 to 53,000
(without deductions)
Gross In Hand Salary:
Rs. 42,000 to 44,000
(after all deductions)
SBI PO Important Questions & Answers PDF
Download SBI PO Previous Papers PDF
SBI PO Salary Allowances:
SBI PO employees receives allowances like
- Dearness Allowances
- House Rent Allowances
- Travel Allowances
Dearness Allowances:
Apart from the salary, SBI PO receives Dearness Allowances as a percentage of basic pay. This is generally revised once in 3 months February, May, August and November.
- Entitled for DA as a percentage of the basic salary.
- Revised every three months
- You can expect your DA to be around 46 percent of the basic pay.
House Rent Allowances:
HRA provided depends on the place of posting. Government Of India has classified cities into Class X, Class Y and Class Z. The maximum HRA provided is 10% of Basic pay for metro cities and minimum is 7.5% for rural areas.
Lease accommodation (a maximum of Rs 29500 for Mumbai to minimum of Rs 8000 in Rural areas) varies according place to place.
Travel Allowances:
SBI PO gets travel allowances to visit to places in India.
Apart from allowances, SBI PO receives other benefits like
Medical Benefits:
SBI provides medical benefit package to its employees. It covers 100% for an employee and 75% for dependent family members. The bank has tie-up with best medical facilities and employees are eligible for cashless treatment facility.
Lease accommodation (a maximum of Rs 29500 for Mumbai to minimum of Rs 8000 in Rural areas) varies according place to place.
Leave Facility:
SBI provides a number of leaves to its employees, 33 privilege leaves, 12 casual leaves along with sick leave and maternity leave. Women and Single men with children or aged parents have the provision to take sabbatical leave of upto 2 yrs.
- 12 casual leaves,
- 30 privilege leaves Â
- 15 full-day medical leaves
Leave Travel Allowance(LTC):
Every 2 to 4 years
Two tier AC fare will be borne along with Guest House facility across the country.
Miscellaneous:
- Furniture Allowance of Rs. 1,20,000/-
- Petrol allowance, newspaper allowance, entertainment allowance, house maintenance allowance, etc which comes to a total of Rs 5000 approx.
- Provides car loans, housing loans, etc. at concessional rates
Monthly Benefits:
Apart from salary, SBI PO is eligible for various perquisites such as petrol allowances, news paper allowances, house maintenance allowances, entertainment allowances etc. The total monetary value of perquisites comes to 5000 on monthly basis. Apart from all these benefits, the bank also provides car loans, housing loans, etc. at concessional rates to all its officers.
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SBI PO Job Profile And Career Opportunities:
SBI PO has a probation period of 2 yrs, during which he learns the basic aspects of banking sector like supervising the clerical activities, processing of loans, customer service, opening of bank account. They will also learn about various fields of banking like Rural banking, Retail banking. Traning to SBI Scale- I officers will also be given at SBI training institutes. After completion of probation period, SBI PO will undergo a screening process, if qualified they will be promoted to Grade II officer scale.
SBI PO Career Opportunities:
- 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
