SBI PO Salary & Allowances , Perks & Promotion
State Bank of India (SBI) is the largest commercial bank of India. There are several perks and advantages associated working with biggest bank of India SBI. This bank offers the best-in-class entry-level compensation package for Probationary Officers (PO). Aspirants will also get exposure to various facets that will make you a real Banker apart from the various benefits. In this page, you will get the ideas about the SBI PO Salary Structure, Perks, Allowances, Hierarchy of Promotion etc.
SBI PO Salary Structure
Current Starting Basic Salary
Rs. 27, 620/- (with 4 advance increments)
Pay Scale
23700-980/7-30560-1145/2-32850-1310/7-42020
Grade
Junior Management Grade Scale-I
Total Compensation
- Highest entry-level compensation pack
- Minimum of Rs. 7.55 lakhs
- Maximum of Rs. 12.95 lakhs
- Could earn over Rs. 1 lakh a month if posting in a city like Mumbai
SBI Perks
- Security & Pension of Government Job.
- In-cash privilege leaves
- No door to door selling
- Climb up the career ladder is easier.
SBI PO Salary Allowances
- Dearness Allowance
- Provident Fund
- Gratuity
- Pension under the new pension scheme
- Leave fare
Housing Allowances (HRA)/ Company Leased Accommodation
This compensation includes Least Rental Accommodation where the employee get the housing rent as the part of its package.If due to some reason SBI is not able to provide accommodation to its PO, it compensate by providing the Housing Allowance. Your this allowance become more prominent as you move up the career ladder.
Medical Benefits
SBI takes care of health and well being of employees and their family by taking care of medical expenses of employees. Medical benefits includes-
- 100% for the Employee
- 75% for the dependent Family Member
Leave Policy
SBI Probationary Officers (PO) are provided with attractive leave policies which includes
- 33 days of privilege Leave
- 12 days of Casual Leave
Travel Allowance
The employees gets leave travel concession to visit the places within India . Holiday home and bank guest house are available for employees at cities and tourist destination.
Miscellaneous Benefits
The other life style related benefits that a SBI PO enjoys
- Life Allowance
- Newspaper allowance
- Petrol and Entertainment Allowance
- Reimbursement of Telephone bills⇓
- House Maintenance Allowance
- Book and management
- Housing Loan
- Car Loan
- Personal Loan
- Scholarships to the meritorious children of all Employees.
So all and all, getting offers to serve as an SBI Probationary Officer is a definite step toward leading a comfortable and well routed life for a great and enforces life.
SBI PO Perks And Facilities At Joining Time (As on 01.09.2013)
SBI PO In-Hand Salary After 7th Pay Commission
SBI PO Salary after 7th Central Pay Commission (CPC) is recommended around Rs. 41, 490 per month. This Seventh Pay Commission scale and initial salary is proposed salary.
| Salary Structure | 6th Pay Commission (CPC) | 7th Pay Commission (CPC) |
| Basic Pay (BP) | Rs. 14,500 | Rs. 27,865 (With 20% Increase) |
| Dearness Allowance (DA) | Rs. 12,781 | Rs. 10,839 |
| House Rent Allowance (HRA) | Rs. 1,087 | Rs. 2,786 |
| Total/ Gross Salary | Rs. 28,368 | Rs. 41, 490 |
Hierarchy/ Career Path For SBI PO – Promotion
Assistant Manager (Probationary Officer)
⇓
Deputy Manager
⇓
Manager
⇓
Chief Manager
⇓
Assistant General Manager
⇓
Deputy General Manager
⇓
General Manager
⇓
Chief General Manager
⇓
Deputy General Manager
⇓
Managing Director
⇓
Chairman
All the best for your upcoming exam!
You can join or visit at Facebook Page or Twitter for always keep in touch with further updates.
Read more articles….