SBI PO Salary 2019-20 (Latest In hand & Salary slip) Job profile, promotion perks / What is the SBI PO Salary Allowances and Other benefits is if really 12-13 Lacks Rs per year

SBI PO Salary Structure, Allowances & Other Benefits 2019-20 | SBI PO Job Profile & Career Growth

SBI PO Salary 2019

The aspirants preparing for the SBI PO Exam must be eager to know about the job responsibility and the salary slip and allowances of an SBI PO. To resolve your queries, we're sharing both, the in-hand salary, gross salary and salary slip of a PO, his/her Job profile, and career growth opportunities associated with this post to arouse your interest in this profile all the more and motivate you to prepare with full zeal for your exam!

SBI PO Salary Structure 2019 Gross and In-hand

SBI is one of the most coveted and lucrative Banking sector Jobs in India. The Probationary Officers in State Bank of India not only hold a very reputed position but are also entitled to various perks and allowances. The person working as an SBI PO earns higher take-home salary as compared to an ibps po. They get more allowances as well. It's essential that you understand what exactly does a Bank PO does and what are the prospects of career progression. Let us have a look salary structure of SBI PO.

We will first discuss the salary structure of SBI PO, Including the basic pay, salary components, in-hand salary and perks of this reputed job.

SBI PO Annual Package 

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

SBI PO Salary Components & Perks Offered 

Some of the major perks offered by SBI have been listed in the below.


SBI PO Basic Pay 2019
Rs.27,620/- (with 4 advance increments) (in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020)
Dearness Allowance
This is revised every quarter and is calculated based on CPI (Consumer Price Index). Currently, DA is 46.9% of the basic pay.
City Compensatory
Allowance (CCA)
This varies with the place of posting at 4% or 3%.
Leased House Accommodation
SBI PO may take a house on lease, the amount of which varies with posting between minimum of, Rs.8000/-(in rural areas) and a maximum of Rs. 29500/- (in Mumbai).
Furniture Allowance
Rs. 120000/- for the purchase of furniture
Medical Insurance 
100% medical coverage for SBI employees and 75% for their family members
Travelling Allowance 
For Official travels, reimbursement of AC 2-tire fare is provided 
Petrol
50 Lts (For 2 wheelers) Or 55 Lts (For 4 Wheeler) Or Approx. Rs. 1100-1250 if you don't have 2/4 wheeler (conveyance allowance).

Apart from these, SBI PO enjoys various other monthly perks like entertainment, tea & coffee, cleaning & labour and Newspaper allowances, the total amount of which is approximately Rs. 4000/-.

SBI Also provides concessional interest rates to its employees for Housing Loan, Car Loan, and Personal Loans.

Facility of Home Travel Concession/Leave Fare Concession is also provided.

SBI PO In-hand Salary 2019 

The in-hand salary of Probationary Officers in SBI ranges from Rs.. 42,000/- to Rs. 44,000/- (after all the deductions). This amount varies depending on the place of posting of the employee. if you have any doubts regarding the exam, read the SBI PO FAQs and find all the answers

SBI PO Salary Slip 2019 

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


SBI PO Job Profile 

Let us now understand what exactly does an SBI Probationary Officer do?

1. After Joining, SBI PO is subject to a probation period of 2 years. this is more like a training phase where they get to learn about various aspects of banking procedures.

2. Some of the common tasks 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.

3. During the probation period, training is provided in various fields, Which include - retail (Personal) Banking, Advances, Rural Banking (Agriculture training), etc.

4. SBI PO is sent directly to the allotted branch, a day after reporting in the regional office of the allotted circle. The training is basically on-site i.e he/she gets to learn the banking procedures while working in the branch itself.

5. Specialised training at the SBI training institutes is also conducted during the probation period.

6. After the probation period, 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 a PO is highly versatile and may demand the officer to engage in clerical work according to the needs. All this should be taken in good spirits and must be seen as a great way to learn new things. Eventually, When you will have to take up a managerial profile, you can't expect to pull it off properly unless you have a clear understanding of how thins are done at the root level. So, think of it as the first step of the ladder which is essential to get to the next level.

SBI PO Career Growth & Promotion 

SBI Offers immense growth opportunities. Promotion cycle in SBI is pretty fast and one can even reach up to the level of chairman of the group. perfect example for this would be the previous Chairperson of SBI, Mrs Arundhati Bhattacharya who started as a PO in SBI in 1977.

Promotions in SBI follow the undermentioned path 

1. Probationary Officer (Assistant Manager, JMGS -I)

2. Deputy Manager (MMGS)

3. Manager (MMGS)

4. Chaif Manager (MMGS)

5. Assistant General Manager (SMGS)

6. Deputy General Manager (TEGS)

7. Chief General Manager (TEGS)

8. General Manager (TEGS)

9. The promotion policy of SBI Provides an opportunity to the meritorious and exceptionally brilliant officers to reach the Top Management Grade in a reasonably quick time.

10. SBI also offers Foreign postings to selected officers based on their performances. it has over 190 foreign offices in 36 different countries.

Clearly there are numerous reasons to join this reputed organisation. It is the only bank from India under the Fortune 500 companies globally. SBI in itself is a huge brand and to be part of such an esteemed organisation speaks volumes So, start your SBI PO preparation now!

we hope the above-listed factors were motivating enough for you all to pull up your socks for this year's SBI PO Exam.

For in-depth conceptual clarity in all topics for SBI PO 2019 exam In Hindi, take a look at SBI PRO Course 2019 . Prepare with expert faculty who have vast teaching experience for CAT and Banking exams. This is the best possible utilization of your time to get ready for the exam. Your medium should not be a hindrance in your success.

As You can see,. there are numerous reasons for you to take this exam seriously and give your best shot. Apart from the good SBI PO Salary, there are great growth opportunities.


Candidates must be thorough with the SBI PO syllabus and SBI PO exam pattern and prepare accordingly. You must also work on your test-taking skills like management and question selection because these skills play a vital role in this exam. You must also take mock tests and works on your weaknesses. Embibe also provides free SBI PO Prelims mock tests Which we recommend you take regularly.


SBI PO Salary FAQ 

What is the salary of SBI PO?


A PO in State Bank of India earns around 8.20 lakhs minimum and maximum of 13.08 lakhs per annum.

What is the starting salary of SBI PO?


the pay scale for SBI PO is : 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I. Presently, the starting basic pay is 27,620/- (with 4 advance increments).

What is in hand salary of SBI PO?


As per the Official notification, total compensation per annum for SBI PO would be a minimum of 7.93 lacs and maximum of 12.95 lacs. In Hand salary. After deductions, probationary officers in SBI receive about Rs. 42000/- to Rs. 44000/- initially, depending upon the place of posting.

What is the salary of SBI PO after 5 years?


Still, if you are a Scale-I Officer after 5 years, your salary as per the current figures shall be around Rs. 47,587.81 as there are annual increments after each year in Basic Salary of Rs. 980/-

What is the Total salary of SBI PO?


the pay Scale for SBI PO is : 23700-980/7-30560/2-32850-1310/7-42020 application to Junior Management Grade Scale-I Presently the starting basic pay is 27,620/- (with 4 advance increments).

Which bank PO salary is highest?


Top Banks in India

Salary of PO in SBI and bank of India are among the highest. They are paid paid well with other allowance. Bank of Baroda PO salary is also comes among highest in the banking sector to POs.

Does SBI PO get pension?


SBI PO is eligible for reimbursement of various perquisites, Provident Fund, Gratuity, Pension under New Pension Scheme (Defined Contribution Benefit Scheme), Medical, Leave fare and other facilities, as per the instructions of the Bank issued from time to time.

Is Bank PO a good job?


There is no financial down storm that can affect your Job. Good Pay Scale: The pay scale of a bank PO is high as compared to other entry-level government jobs. A Bank PO's salary starts at 4 lakh per annum in a PSU. A bank PO job is a good kick starter for a fresher wanting to pursue a banking career. 

Which is the highest post in SBI bank?


SBI PO Salary: The State Bank of India Probationary Officer (SBI PO) is one of the most demanding and prestigious jobs in India. The State Bank of India (SBI) being the largest commercial bank in India, ensure future for its employees. it provides financial security and social status.

What is the full form of PO?


Probationary Officer 
1) PO: Probationary Officer 

PO stands for Probationary Officer. it is an entry level post given to the new recruits in Indian Banks. This post is known as Probationary Officer because the new recruited freshers in this post are served for certain period of probation.

Is SBI PO better than job?


The SBI PO Job. or any public sector bank job. is more secure then anu of the posts in the entire IT industry run by private players. They might at best have to compensate it with their promotions in extreme cases, but sustaining these can end up in better positions for SBI POs.

How many years of service is required for full pension?


The minimum service period required to qualify for VRS pension scheme is 20 years. In order to be eligible for voluntary retirement pension, employees has to give notice of not less than three months in writing to the appointing authority, seeking voluntary retirement.

What facilities are given to a bank po?



Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India 

Bank PO Perk and Facilities at Joining Time
Salary
Major A class Cities: Metro Cities
Other places Category B Centers 
Leased House Rent
Rs. 12,500.00
Rs. 7,500.00
Travelling Allowance
Rs. 3,000.00
Rs. 2,700.00
News paper
Rs. 250.00
Rs. 250.00


We hope this detailed article on SBI PO Salary helps you. if you have any query regarding SBI PO Salary or the exam in general. drop a comment below and we will get back to you at the earliest  

No comments:

Post a comment