SBI PO Salary 2023 & Pay Scale

by

State Bank of india is the largest bank in India having its operations all over the country and also biggest bank in term of recruitment than any other bank.

It is a well-known point that SBI conducts examination for all its recruitment separately from other banks who conducts their recruitment process with the help of Institute of Banking Personnel Selection commonly known as IBPS. Being the largest bank, it also gives maximum salary and perks and other benefits than other banks in India.

Check SBI Probationary Officer Salary 2023 per month with Pay Scale 

Presently, the starting basic pay is Rs. 41,960/- (with 4 advance increments) in the scale of Rs. 36000-1490/7-46430-1740/2-49910-1990/7-63840 applicable to Junior Management Grade Scale-I. The official will also be eligible for D.A, H.R.A/Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time. 
Based on this pay scale, salary details are given below.
  • Total Salary: Rs. 61000-66000 per month
  • Net in hand Salary: 55000-60000 per month
The total compensation depends on place of posting and allowances and may differ to some extent. Metro cities posting will get higher salary as compared to other cities.

SBI plans to offer, subject to necessary approvals, a SMART Compensation Package which would
enable candidates a choice to monetize specific elements of the salary package.
In addition, the officers are also entitled to other benefits like –
(i) Medical Aid for self (100%) and for family (75%)
(ii) Home Travel Concession/Leave Fare Concession
(iii) Concessional Interest Rates for Housing/Car/Personal Loans.

When a candidate is selected as probationary officer in SBI, starting basic pay is Rs. 41960/- (with 4 increments) in the scale of Rs 36000-1490/7-46430-1740/2-49910-1990/7-63840 applicable to Junior Management Grade Scale I. The new probationary officers are also given several perks and benefits like Dearness Allowance, House Rent Allowance & City Compensation Allowance etc. as per rules from time to time.

The main difference in salary of SBI Probationary Officer and other Public sector bank PO is that SBI gives more allowances than them. It means SBI PO gets more Dearness Allowance and other allowance which are based on Basic pay.

Bond:
The selected candidates, at the time of joining, will have to execute a Bond for a value of Rs 2.00 lac (Rs Two lac only) to serve the Bank for a minimum period of three years.

The SBI bank probationary officers are required to make 10% of their basic pay as contribution to Provident Fund and 10% of Basic Pay and D.A. towards pension scheme and Bank also makes matching contribution.
Other benefits includes Concessional Interest Rates for Housing/Car/Personal Loans, Medical Aid for self (100%) and for family (75%), Home Travel Concession/Leave Fare Concession.
 
          

Leave a Comment