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SBI PO Salary 2023

The job of an SBI PO is extremely lucrative and so is very attractive to the Indian graduates.

The notification for the recruitment of a Probationary Officer has been released by the largest public sector bank, SBI. Aspirants of the SBI PO 2023 exam must be eager to know about the SBI PO salary in hand, job responsibilities, pay and perks, salary slip, and allowances.

The post of SBI PO draws a handsome salary along with a lot of perks and benefits that are allotted to it. It is important for exam aspirants to take a look for the SBI PO Job profile 2023, salary structure, or in-hand salary besides getting other perks and benefits.

We are going to share the complete details of the SBI PO in-hand salary, Gross Salary, Job Profile, and career levels. 

SBI PO Salary Structure (Gross & in-Hand)

The attractive part of the job of an SBI PO is a decent salary as compared to an IBPS PO, along with more allowances as well. It is essential for aspirants to know the exact job profile of a probationary officer: the duties and all career objectives an officer can fulfill and what is the SBI Bank PO salary.

       SBI Bank PO salary is comparatively higher than any other banking institution.

       The initial salary of SBI PO differs depending on the place of posting. Usually, employees posted in metropolitan cities get higher pay.

       With the designation, attractive salary, an employee also gets some other benefits like PF, Medical aid, LTC, etc.

SBI PO Annual Package

According to the official notification of SBI, the total compensation per annum for SBI PO would be a minimum of 8.20 Lakhs and a maximum of 13.08 Lakhs depending on the place of posting and other factors.

SBI PO Salary Structure & Perks Offered

The State Bank of India Probationary Officer (PO) is considered the most demanding and prestigious government job of India as SBI is one of the top nationalized banks. When a candidate is appointed as a PO in SBI he/ she starts receiving Rs.41,960 as his basic salary (with 4 advance increments). The salary structure of SBI PO follows the range of 36000-1490/7-46430-1740/2-49910-1990/7-63840. In this article, details of the SBI PO Salary, In Hand Salary, Perks and Job Profile are discussed.

SBI PO Salary
Basic PayRs. 41,960
Special AllowanceRs. 6,881
DARs. 12,701
Location AllowanceRs. 700
Learning AllowanceRs. 600
HRARs. 2,937
Gross SalaryRs. 65,780
Deduction (PF/Income Tax/Professional Tax/Pension)Rs. 12,960
Net SalaryRs. 52,820

SBI PO In-Hand Salary

The In-hand salary of SBI PO 2023 ranges from Rs. 52,000 to 55,000 per month. This amount may vary depending upon the location of the posting. As the banks follow Bipartite settlements, there is no applicability of the 7th pay commission on the amount. Even then, the in-hand salary is attractive enough for the aspirants and thus there remains a huge demand for such Bank jobs.

SBI PO Salary Allwoance

Allowances that come with SBI PO Salary are tabulated below:

SBI PO Salary Allowances
Dearness Allowance26% of the Basic Pay
City Compensatory Allowance3% – 4% depending on location
House Rent Allowance7% – 9% depending on Place of Posting
Furniture AllowanceRs. 1,20,000
Medical Insurance100% covered for employee | 75% covered for dependent family
Travelling AllowanceAC 2-tier fare is reimbursed to the employee for official travels
Petrol AllowanceRs. 1,100 – 1,250
Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.Varies based on Cadre

SBI PO Salary Increment

The salary and the in-hand salary of SBI PO are subject to increment every year. There is a fixed amount of increment given to every SBI PO on the basis of the period of service given by them. The table below shows the SBI PO Salary increment annually and the final salary.

SBI PO Increment 
PeriodIncrementBasic Salary
First 7 yearsRs. 1490/-Rs. 36,000/-
Next 2 yearsRs. 1740/-Rs. 46,430/-
Another 7 yearsRs. 1990/-Rs. 63,840/-

SBI PO Salary Slip

We have given below the SBI PO salary slip for your knowledge.

SBI PO Job Profile 2023

       The newly joined SBI PO is subject to a probation period of 2 years. During this period of time, they learn more about the functioning of the banks and duties related to their profile.

       The usual job role of a probationary officer may include - Gaining practical knowledge of various banking aspects, Customer Services (which may range from passbook printing to account opening and much more), supervision of clerical work, Loan Processing, etc.

       The SBI PO is provided in various fields like - Retail (Personal) Banking, Advances, Rural Banking (Agriculture training), etc. During their probation period.

       Then the SBI PO is directly sent to the branch allotted after meeting the RM of the circle. After reporting to the branch manager he learns the various aspects of daily banking.

       During the probationary period, specialized training is also given to the employees.

       After the probation period gets over, SBI PO needs to undergo a screening procedure, qualifying which he/she will be confirmed as Officer Middle Management Grade Scale-II.

The job profile of SBI PO is quite vast and may require the officer to engage in clerical work according to the needs. Hence the officer must take all this in good spirits and try to learn from the opportunities. 

SBI PO Career Growth & Promotion

SBI offers immense growth opportunities. If the individuals are dedicated enough, they can climb through the cycle real quick, also up to the level of chairman of the group. A perfect example of this would be the previous Chairperson of SBI, Mrs. Arundhati Bhattacharya who started as a PO in SBI in 1977.

SBI PO Salary FAQs

1.  What is the basic pay of an SBI Probationary Officer?

The basic pay of the SBI Probationary Officer is ₹ 41,960/- (with 4 advance increments).

2.  What is the In Hand Salary of an SBI Probationary Officer?

The in-hand salary of SBI PO after all the deductions is around 42,000- 44,000/-. This amount may differ from the place of posting of the employee.

3.  What are the Other Perks and Benefits of the SBI PO Post?

A SBI PO gets the following perks and benefits:

       Dearness Allowance

       City Compensatory Allowance (CCA)

       Leased House Accommodation

       Furniture Allowance

       Medical Insurance

       Travelling Allowance etc.

4.  Is the salary of SBI PO higher than that of IBPS PO?

Yes, SBI PO earns more than the IBPS PO

5.  Is there a probation period for SBI PO?

Yes, a candidate has to serve a probation period of 2 years after they join. 

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