SBI PO Salary 2024:
The role of SBI Probationary Officer (PO) comes with an attractive salary package and opportunities for career growth. SBI PO Salary Starts with basic pay of Rs. 41,960, along with allowances. An SBI PO can expect to receive in-hand salary between Rs. 52,000 and Rs. 55,000 per month. In this article, we have provided complete details of SBI PO Salary and Career Growth.
SBI PO Salary and Job Profile 2024: Overview
SBI PO Salary Starts with basic pay of Rs. 41,960, along with allowances like Dearness Allowance (DA), House Rent Allowance (HRA), and more. SBI PO can receive an in-hand salary upto Rs. 55,000 per month.
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SBI PO Salary and Job Profile 2024 |
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Particulars |
Details |
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Starting Basic Pay |
Rs. 41,960 (plus 4 advance increments) |
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Allowances |
Dearness Allowance (26%), HRA, CCA, etc. |
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Deductions |
Rs. 12,960 |
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Annual CTC |
Up to Rs. 13.08 lakh |
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Promotion Opportunities |
Up to Chairman |
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Key Responsibilities |
Loan processing, customer service, marketing, etc. |
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Probation Period |
Up to 2 years |
SBI PO Salary Structure 2024
The salary structure for SBI POs in 2024 includes a basic pay of Rs. 41,960 along with allowances like Dearness Allowance (DA), House Rent Allowance (HRA), and other benefits. The SBI PO salary follows the scale of Rs. 36,000 – Rs. 63,840, depending on experience and promotions.
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Component |
Amount (INR) |
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Basic Pay |
Rs. 41,960 |
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Special Allowance |
Rs. 6,881 |
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Dearness Allowance (DA) |
Rs. 12,701 |
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Location Allowance |
Rs. 700 |
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Learning Allowance |
Rs. 600 |
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House Rent Allowance (HRA) |
Rs. 2,937 |
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Gross Salary |
Rs. 65,780 |
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Net In-Hand Salary |
Rs. 52,820 |
SBI PO Salary Deductions
SBI POs also have various deductions, including provident fund contributions and income tax. These deductions bring the final in-hand salary to between Rs. 52,000 – Rs. 55,000.
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Particulars |
Amount (INR) |
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Provident Fund Contribution |
Rs. 4,196 |
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Income Tax |
Rs. 3,290 |
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Professional Tax |
Rs. 200 |
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Contributory Pension Fund |
Rs. 5,274 |
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Total Deductions |
Rs. 12,960 |
SBI PO In-Hand Salary 2024
The starting in-hand salary for an SBI PO ranges between Rs. 52,000 and Rs. 55,000 per month. The variation depends on the allowances applicable based on the job location. In addition to the salary, SBI POs also enjoy a comprehensive benefits package, including medical insurance, lease rentals, travel allowances, and more.
The gross annual salary of an SBI PO ranges from 8.20 lakhs to 13.08 lakhs, depending on the location and other factors.
SBI PO Allowances
In addition to the basic salary, SBI POs receive a variety of allowances, making their total compensation package quite attractive.
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Allowance |
Amount/Details |
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Dearness Allowance |
26% of the Basic Pay |
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House Rent Allowance (HRA) |
7% to 9% based on job location |
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City Compensatory Allowance (CCA) |
3% to 4% based on location |
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Medical Insurance |
100% for employees, 75% for dependents |
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Furniture Allowance |
Rs. 1,20,000 |
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Travelling Allowance |
AC 2-tier fare reimbursed |
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Petrol Allowance |
Rs. 1,100 – Rs. 1,250 |
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Newspaper, Entertainment Allowances |
Varies based on Cadre |
SBI PO Salary Increment
The salary increment for SBI POs happens at regular intervals, with increments added based on the duration of service. After five years of service, an SBI PO is likely to receive an estimated monthly salary of Rs. 60,270. Here’s the salary increment schedule:
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Time Period |
Increment (INR) |
Revised Basic Pay (INR) |
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First 7 Years |
Rs. 1,490 |
Rs. 36,000 |
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Next 2 Years |
Rs. 1,740 |
Rs. 46,430 |
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Another 7 Years |
Rs. 1,990 |
Rs. 63,840 |
SBI PO Benefits and Perks
SBI POs enjoy several perks beyond salary. Some of the key benefits include:
- Medical Insurance: 100% coverage for employees and 75% for family members.
- Cashless Medical Treatment: Available at select hospitals across India.
- Home Loan and Car Loan at Concessionary Interest Rates
- Leave Travel Concessions (LTC): For holiday and travel expenses.
- New Pension Scheme Contribution
- Travelling Allowance: Reimbursement of AC 2-tier fare for official travel.
SBI PO Job Profile and Responsibilities
The role of an SBI PO involves a variety of responsibilities that ensure the smooth functioning of banking operations. Here are some duties performed by an SBI PO:
- Supervision of Clerical Activities: Overseeing the day-to-day operations such as account handling, billing, and cash flow management.
- Customer Service: Assisting customers with account opening, loan processing, and other banking services.
- Marketing and Business Development: Promoting new banking products and services to attract customers.
- Loan Processing and Management: Evaluating loan applications, verifying documents, and approving/disbursing loans.
- Training and Development: Undergoing regular training sessions to enhance banking knowledge and skills.
- Branch Management: Once experienced, an SBI PO can be tasked with managing the entire branch.
SBI PO Promotions and Career Growth
SBI offers excellent career growth opportunities to its POs, with a clear path for promotions based on performance and experience. Promotions happen at regular intervals, and through promotional exams.
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SBI PO Promotion Hierarchy (Low to High) |
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S.N |
Designation |
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1 |
Assistant Manager |
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2 |
Deputy Manager |
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3 |
Manager |
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4 |
Chief Manager |
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5 |
Assistant General Manager |
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6 |
Deputy General Manager |
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7 |
General Manager |
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8 |
Chief General Manager |
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9 |
Deputy Managing Director |
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10 |
Managing Director |
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11 |
Chairman |
SBI PO Training and Probation Period
After selection, SBI Probationary Officers undergo a comprehensive training program aimed at preparing them for their responsibilities. This training consists of online courses covering fundamental banking knowledge, followed by on-the-job training and evaluation. The probation period typically lasts for up to two years, during which the candidate’s performance is closely monitored. Successful completion of this period leads to confirmation as a Junior Management Grade Scale-I (JMGS-I) officer. Key phases during the training and probation period:
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Phase |
Details |
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Online Training |
Mandatory courses covering fundamental banking knowledge. |
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Bond Agreement |
Rs. 2 lakh bond to serve the bank for at least 3 years. |
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Probation Period |
Up to 2 years of training and on-the-job evaluation. |
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On-site Training |
Hands-on training in various branches and departments of the bank. |
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Performance Evaluation |
Continuous evaluation to assess readiness for permanent placement. |
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Confirmation |
After probation, confirmation as Junior Management Grade Scale-I (JMGS-I). |
This structured approach ensures that SBI POs are well-prepared for their roles and can contribute effectively to the bank’s operations.
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Related Important Links |
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SBI PO Eligibility |
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SBI PO Notification |
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SBI Cut Off |
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SBI PO Previous Year Question Paper |
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SBI PO Salary |
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SBI PO Admit Card |
FAQs: SBI PO Salary 2024
What is the Salary After the SBI PO Exam?
After successfully clearing the SBI PO exam and completing the selection process, a newly recruited SBI PO receives a basic salary of Rs. 41,960. Including various allowances, the in-hand monthly salary ranges between Rs. 52,000 and Rs. 55,000.
Can SBI PO become a manager?
Yes, an SBI PO can get promoted to Manager through the bank’s internal promotion exams and performance-based evaluations. With consistent good performance, a PO can rise through the ranks to become a Manager and even higher positions.
What will be my salary after 5 years as an SBI PO?
After 5 years, based on increments and promotions, an SBI PO’s basic salary is estimated to be around Rs. 46,430. With allowances, the total in-hand monthly salary can increase to approximately Rs. 60,270.
