State Bank of India (SBI) is one of the largest banks of India that conducts the examination of bank PO/Clerk every year. Hence, every year aspirants wait for the recruitment of banking section in India. SBI brings the best career opportunity for the aspirants by ensuring the exam. Hence, in this blog, we will discuss some of the important aspects about the SBI PO jobs. The selection procedure of the SBI PO 2021 is based on three criteria: Preliminary, Mains, and Interview. SBI PO examination is one of the toughest exams in India that require high skills, preparation techniques, and many more. Therefore, candidates should get involved with the SBI PO Coaching that provides better tips & tricks for the Banking Preparation. The salary structure of the SBI PO is also excellent and today we will discuss the details of SBI PO Salary Structure 2021.
Candidates who are shortlisted after the Personal Interview will go for training regarding banking knowledge. A candidate needs to sign a bond of INR 2 Lakh and serve a minimum of 3 Years. This is the initial condition of the SBI PO Salary 2021.
After completion of the training year, a candidate will join as probationary officer in SBI. They will join the bank as a Junior Manager Grade Scale I (JMGS-I). The officer, who works hard, will get the promotion in the next higher grade, which is Middle Management Grade Scale II (MMGS-II).
However, after the completion of the two-year period various promotions will be conducted. Such as Assistant Manager, Deputy Manager, Manager, Chief Manager, General Manager, Managing Director, and many more.
The salary scale of the SBI PO is excellent and it is set as Bipartite Settlement. The basic pay for the SBI PO is INR 40000 approx. Let’s check out the details of the SBI PO In hand salary:
The Basic Salary structure of the SBI PO 41960-980 (7) – 48820 – 1145 (2) – 51110 – 1310 (7) – 60280. This means PO will get basic 41960 and increment of 980 for the next 7 years. The salary followed by 48820 and annual increment of 1145 for two years and so on for 3rd year.
The salary of the SBI PO also includes DA, HRA, CCA, Medical, and other allowances. Hence, the total in-hand salary for the SBI PO is INR 40000 to 50000.
Let’s check out the details of the SBI PO salary structure that includes the basic pay, DA, HRA, PF, and other allowances. The salary structure will show the details that include Salary and deduction. Hence, the total SBI PO Pay Slip per annum on CTC basis is varied between 8.20 lakhs to 13.08 lakhs.
|Contributory Pension Fund||5,274|
The benefits of the SBI PO is not only limited to the Salary but the officers also served with cashless services as perks and allowances. Hence, let’s check all the non-financial facilities provided by the SBI Bank for PO officers.
|Perks and Allowance||Amount|
|Dearness Allowance||26% of the Basic Pay|
|City Compensatory Allowance||3% – 4% depending on location|
|House Rent Allowance||7% – 9% depending on Place of Posting|
|Furniture Allowance||INR 1,20,000|
|Medical Insurance||100% cover for employee and 75% cover for dependent family members|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels only|
|Petrol Allowance||INR 1,100 – 1,250|
|Loan Benefits||The employees get low-interest rates/discount on loans|
|Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.||Varies based on Cadre|
Hence, these are the real SBI PO Salary Benefits both in financial and non-financial ways. However, a prime success can only be experienced only when you are eligible to get selected after the final interview.
Join the top banking coaching in India that is specialized and analyze the courses of SBI PO in detail. The preparation of the coaching is based on such ways that help the aspirants to understand about the banking courses. Therefore, discuss the SBI PO 2021 exam with top educators of the Banking coaching institute.