SBI PO Salary 2021
SBI PO Salary 2021: State Bank of India will be soon releasing the official notification for the recruitment of Probationary Officers. What motivates aspirants towards SBI PO preparation is the SBI PO Salary, perks, allowances and the in-hand salary. So, in this article, we are going to provide the candidates with all the details regarding SBI PO salary structures and other perks that a candidate would receive when selected for the post of SBI PO after clearing the pre, mains and the interview.
SBI PO Salary 2021
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 Pay||Rs. 41,960|
|Special Allowance||Rs. 6,881|
|Location Allowance||Rs. 700|
|Learning Allowance||Rs. 600|
|Gross Salary||Rs. 65,780|
|Deduction (PF/Income Tax/Professional Tax/Pension)||Rs. 12,960|
|Net Salary||Rs. 52,820|
Download SBI PO Prelims Admit Card 2021
SBI PO Deductions
There are various benefits that are given to SBI POs in terms of deductions that can be claimed by them while filling their ITR and calculating tax liabilities. The table below has got all the claimable deductions in the SBI PO Salary structure 2021.
|SBI PO Salary 2021
|PF Contribution||Rs. 4,196/-|
|Income Tax||Rs. 3,290/-|
|Professional Tax||Rs. 200/-|
|Contributory Pension Fund||Rs. 5,274|
|Total Deductions||Rs. 12,960|
SBI PO Salary In Hand 2021
The In-hand salary of SBI PO 2021 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 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|
|First 7 years||Rs. 1490/-||Rs. 36,000/-|
|Next 2 years||Rs. 1740/-||Rs. 46,430/-|
|Another 7 years||Rs. 1990/-||Rs. 63,840/-|
SBI PO Allowances, Perks
Allowances that come with SBI PO Salary are tabulated below:
|SBI PO Salary Allowances|
|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||Rs. 1,20,000|
|Medical Insurance||100% covered for employee | 75% covered for dependent family|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels|
|Petrol Allowance||Rs. 1,100 – 1,250|
|Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.||Varies based on Cadre|
SBI PO 2021 Promotion
SBI POs get promotions really quick along with the increase in the salary as per the Bank norms. The promoted posts include:
- Assistant Manager
- Deputy Manager
- Chief Manager
- Assistant General Manager
- Deputy General Manager
- General Manager
- Chief General Manager
- Deputy Managing Director
- Managing Director
SBI PO Perks
Being a Bank job, SBI PO Perks include the benefit of having a settled career, job security, fixed allowances and increments. This job is thus an attractive one to a huge number of candidates.
The additional benefits of the salary include:
- Medical insurance (100 per cent self and 75 per cent for family members)
- Cashless treatment in selected medical facilities around the country
- Newspaper allowance
- Books and magazines allowance
- Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
- Entertainment allowance
- Concessionary interest rates for House Loan, Car Loan, and Personal Loan
- New pension scheme contribution
- Leave Travel Concessions (LTC)
SBI PO Job Profile
- Supervision of clerical activities, customer service, processing loans, opening bank accounts, etc.
- Marketing of New Schemes
- Bringing New Business to the bank
- Any other task bestowed by the bank from time to time.
- On-site training, such as at SBI training institutes.
Career as SBI PO
Overall, the salary and perks offered by the SBI PO Job profile is very attractive and gives good career growth. The banking sector releases a decent number of vacancies to offer a good opportunity to the aspirants. Numerous candidates apply for the post every year and are currently enjoying a stable life with a good income. Candidates applying for the post are advised to stay updated with the website, adda247.com/jobs for recent notifications related to SBI and other related government jobs.
SBI PO Salary 2021 FAQs
Q 1. What is the Payscale of SBI PO?
Ans. The Pay scale of SBI PO is 36000-1490/7-46430-1740/2-49910-1990/7-63840.
Q 2. What is the basic salary of SBI PO?
Ans. Basic Pay Salary- Rs 41960/- with 4 advanced Increments.
Q 3. What is the in-hand salary of SBI PO?
Ans. The In-Hand salary of SBI PO is between 52,000 to 55,000 per month.
Q 4. What are the allowances we get in SBI PO?
Ans. The allowances and perks offered in SBI PO are Medical Insurance, Travelling Allowance, Furniture Allowance, Petrol and other allowances.
Q 5. What is the promotion hierarchy of SBI PO?
Ans. The promotion hierarchy is Assistant Manager, Deputy Manager, Manager, Chief Manager, Assistant General Manager, Deputy General Manager, General Manager, Chief General Manager, Deputy Managing Director, Managing Director, Chairman