SBI PO Salary 2020 Structure, Increment after 5 years

Pooja | May 17, 2020

The State Bank Of India provides incredible good career growth among all other banks in India. It offers an attractive pay scale for SBI PO Job selected candidates. Here, we update the complete details regarding the SBI PO Salary Structure after 7th Pay Commission, Perks, facilities, Deductions, In Hand salary, etc. Go through the full article for any clarification regarding the SBI PO PayScale.

Overview

DescriptionDetails
Name of the BankState bank of India
Total No. of Posts
2000
Post Name
Probationary Officer (PO)
Selection Process
Prelims, Mains Examination, Group Exercises & Interview
Job TypeBank Jobs
Application Mode
ONLINE
ADVERTISEMENT NOCRPD/ PO/ 2019-20/ 01
Official Website
https://www.sbi.co.in

SBI PO 2020 Salary Structure 

Candidates who place in State Bank Of India as Probationary Officer have a lot of benefits along with a good salary. The following section covers the SBI PO Basic Salary structure, increments after two years, three years, seven years and ten years.

  • Basic Pay: Rs 27620/-
  • The increment for the first seven years Rs. 23700-980/-
  • The increment for the next two years -Rs. 30560-1145/2
  • The increment for another seven years – Rs. 32850-1310/7
  • The increment for remaining years- Rs. 42020

SBI PO Salary In Hand

The Probationary Officer in State Bank Of India can get the below salary as in-hand salary after all deductions

  • Rs 42,000/- to Rs 44,000/- 
  • This pay can vary based on place of posting

SBI PO Deductions

Total deductions in the PO salary as follows. You can get clear information regarding the deductions in SBI PO Slaray Slip.

  • 10% of Basic salary is for PF
  • 10% of Basic salary plus DA for NPS 
  • Income Tax – it depends on the govt norms

SBI PO Allowances 

State Bank of India PO can avail of various allowances such as FA, TA, DA etc. This is an attractive factor for most candidates to choose their career in SBI. 

SBI PO Perks

Following perks are applicable for SBI PO

  • Contribution Pension Scheme/New Pension Scheme
  • Medical Aid for self and family 
  • LTC
  • Home Travel Concession/ Leave Fare Concession
  • Concessional interest rates for Housing/Car/Personal Loans.

Dearness Allowance (DA)

  • It offers 46.9% Dearness allowance on basic pay to their employees

City Compensatory Allowance (CCA) 

  • PO can get 3% or 4% CCA. It depends on the place of employee posting.

Leased House Accommodation (LHA)

  • The minimum LHA is Rs 8000/ in rural areas, and the maximum is Rs 29500/ in urban areas

Furniture Allowance & Medical Allowances 

  • Rs 120000/- is given as Furniture Allowance
  • 100% medical coverage for employees and 75% for families

Travelling Allowance

  • AC-2Tier reimbursement is applicable for exclusively for official travels
  • For Petrol – Rs 1100 – Rs 1300 If you don’t have a personal vehicle

Miscellaneous: Rs 4000/-

  • Total Compensation is 7.5 lakhs to 12.9 lakhs Annually
  • Loan Benefits: concession is applicable on interest rates

SBI PO Promotions

Candidates who got a PO job in SBI can have incredible career growth depends on their performance. The following are next level posts in State Bank Of India.

  • Probationary Officer  – Assistant Manager, – JMGS – I
  • Deputy Manager – MMGS
  • Manager – MMGS
  • Chief Manager – MMGS
  • Assistant General Manager – SMGS
  • Deputy General Manager – TEGS
  • Chief General Manager – TEGS
  • General Manager – TEGS

SBI can also offer Foreign postings to the talented and selected officers based on their performances. The State Bank Of India has 190 foreign offices in 36 different countries.

Frequently Asked Questions

Q. What is the in-hand salary of SBI PO?

A. Approximately, SBI PO In Hand salary is Rs 40000/- to 42000/-

Q. Does SBI PO get a pension?

A. SBI PO can get Provident Fund, Gratuity, Pension under New Pension Scheme

About Author

Pooja

Pooja

Being a content writer, I am providing clear information about Latest, Live, upcoming job notifications across the country. My Intension is to provide the genuine information for the folks who are preparing for various exams everyday. 

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