SBI PO Salary 2023: SBI PO Salary 2023 is one of the highly paid salary structures. SBI PO is one of the most important competitive examinations in the country. Every banking aspirant dreams of working in the State Bank of India (SBI). The candidates selected as SBI PO get a lucrative package that is considered to be the best in the banking industry. The SBI PO Salary 2023 after the 11th bipartite settlement is higher compared to the remuneration of other banks. Along with the high SBI PO salary 2023 after the 11th bipartite settlement, candidates receive many perks and allowances. If you calculate the SBI PO salary 2023 in hand after 5 years, it will be huge after the addition of increments. In this article, we have provided you with the complete updated details about SBI PO salary 2023 in hand, job profile, allowances, perks, etc. In the SBI PO salary slip 2023, you can refer to the detailed package
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SBI has started the recruitment drive to hire candidates for the post of probationary officer in various branches throughout India. The post of an SBI PO can fulfill all the aspirations of an employee attached to their jobs i.e. career growth in terms of designation, SBI PO salary, and other allowances. SBI PO Salary 2023 will motivate their work and trigger their spirit towards achieving their goals. A handsome package of SBI PO salary in hand 2023 and other emoluments are provided to its employees. Hence the SBI PO recruitment always grabs the attention of the candidates who want to make it big in the banking authority. Check the SBI PO Salary 2023 given below.
Presently, the starting basic SBI PO Salary 2023 is Rs.41,960/- (with 4 advance increments). Check the detailed SBI PO salary structure 2023 provided here:
| Starting Basic SBI PO salary 2023 | Rs.41,960/- (with 4 advance increments) |
| Basic SBI PO Salary after 7 years of increment | Rs.46430 |
| Basic SBI PO Salary after 9 years of increment | Rs.49910 |
| Basic SBI PO Salary after 16 years of increment | Rs.63480 |
We have added the SBI Salary in hand 2023. SBI PO Salary in hand 2023 is the net package which is after the deductions from the gross pay, you will get the SBI PO Salary in hand 2023. So here you can check the approximate amount of the SBI PO Salary in hand 2023.
Recently there has been a revision in the SBI PO salary slip 2023 after the 11th bipartite settlement. SBI PO employees will receive the starting pay in SBI Dalary 2023 with 4 advance increments on the scale of 41,960/- (with 4 advance increments) on the scale of 36000-1490/7-46430-1740/2-49910-1990/7-63840. Thus the SBI PO salary structure after 16 years will have a total pay of ₹63840/-. Candidates appointed as the probationary officer, along with the SBI PO Salary 2023 can avail of Dearness Allowance (DA), House Rent Allowance (HRA)/ Lease rental, City Compensatory Allowance (C.C.A), Medical and other allowances & advantages as per ordinance in force from time to time. Here you can check the SBI PO Salary Slip 2023 in the following table.
| Particulars of SBI PO Salary Slip 2023 | Amount |
| Basic SBI PO Salary 2023 | Rs. 41,960 |
| Special Allowance | Rs. 6,881 |
| Dearness Allowance | Rs. 12,701 |
| Location Allowance | Rs. 700 |
| Learning Allowance | Rs. 600 |
| House Rent Allowance | Rs. 2,937 |
| Gross SBI PO Salary 2023 | Rs. 65,780 |
| Deduction (PF / Income Tax / Professional Tax / Pension) | Rs. 12,960 |
| Net SBI PO Salary in hand 2023 | Rs. 52,820 |
Here from the SBI PO salary 2023, there are some deductions. Those deduction details on SBI PO Salary 2023 are given below for your reference.
| Particulars of Deductions in SBI PO Salary Slip 2023 | Amount |
| PF Contribution | |
| Income Tax | Rs. 3,290/- |
| Professional Tax | Rs. 200/- |
| Contributory Pension Fund | Rs. 5,274 |
| Total Deductions | Rs. 12,960 |
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Apart from the SBI PO salary 2023 in hand, the employees will enjoy various allowances. The allowance details are given in a detailed manner for your reference.
| Allowance Details of SBI PO Salary 2023 | 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 | 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 |
Apart from the SBI PO salary 2023 in hand, the employees will enjoy various allowances. The allowance details are given in a detailed manner for your reference.
The consumer Price Index (CPI) is the base for the calculation of the dearness allowance. On a quarterly or yearly basis, the dearness allowance will be revised. Also as per the inflation, the dearness allowance will fluctuate. The dearness allowance provided is around 46.9% of the SBI PO Basic salary 2023.
The city compensatory allowance is to pay for the living expenses in cities. Based upon your working location the city compensatory allowance will vary. The range of the city compensatory allowance lies between 3% to 4% of the SBI PO Salary 2023 basic pay. The approximate value of the CCA will range around ₹870.
The house rent allowance will also vary depending upon the place of posting. It is provided to compensate for your rented accommodation expenses. It will range as 9% or 8% or 7% of the SBI PO Salary 2023. Its approximate value is ₹2486. The house rent allowance of the urban areas is higher than that of the rural areas.
The furniture allowance is provided for the purchase of housing furniture and other needful appliances. It will vary for the officers of different scales. The approximate value of the furniture allowance is ₹1,20,000.
For SBI employees, 100% of medical coverage is provided for SBI employees. While for their family members 75% of medical cover is offered.
It is also known as conveyance allowance. For official travels, reimbursement of AC 2-tier fare is provided for the employees. It will cover the official travels of employees.
It is provided as compensation for the fuel expenses of the official travel. The approximate value of the petrol allowance will range from ₹1100 to 1250.
The SBI also offers a SMART compensation package for the employees. Using this package you can monetize several elements of the SBI PO salary 2023. Apart from the SBI PO Salary 2023, the perks are being offered to SBI Probationary Officers. There are also several benefits in various forms for the SBI PO. They are,
All these benefits along with the SBI PO Salary 2023 will improve the standard of the employee in public society. Thus above the SBI PO salary in hand 2023 and other allowances, candidates aim for this job due to this prestigious status.
“What is the work of SBI PO?” is a common question among the aspirants. Before knowing about the SBI PO salary 2023 and other details, go through the job role. It is very important for the candidates to understand the work nature. Only then you can excel in your work to attain promotions. The newly appointed probationary officers in SBI shall be on 2-year probation from the date of appointment. In this probation period, the SBI PO will be trained to handle various bank roles which can be clerical work or administrative work. The work profile is listed below for your reference.
Along with handling the above tasks, the PO trainee shall keep himself updated from time to time with the latest bank policies, rules, and updates. Once the probation period is over, the SBI PO will secure a permanent position in the bank, following which he/she shall undertake more responsibilities like planning, budgeting, etc. Thus apart from SBI PO salary 2023, it is essential to understand the job role that will assist for career growth.
Securing the job of an SBI PO is like knocking on a door of opportunities. Once you work hard and crack the SBI PO 2023 exam that consists of 2 rounds: prelims and the main round followed by the final interview. Once you clear the SBI PO exam and get appointed as an SBI PO trainee for 2 years, your focus for that time period is to learn all the banking work and to understand the policies and rules of the bank.
The selected candidates shall be provided basic banking knowledge through an online course, which they shall complete before joining. The selected candidates, at the time of joining, will have to execute a Bond for a value of 2.00 lac ( Two lac only) to serve the Bank for a minimum period of three years. The Bond will be invoked by the Bank if the candidate resigns from the service of the Bank before the expiry of three years from the date of joining. On joining, the selected candidates will be designated as “Probationary Officers” and may be on probation for two years.
After 2 years when you will secure a permanent PO position, you will undertake various job roles within the bank and outside as mentioned above. During your tenure as an SBI PO which can last up to 6-7 years, you can wear many hats within the bank and work with different departments closely. This role will also give you a chance to get close to the public as you will be directly interacting with them for various bank needs.
If the employee works hard to achieve organization’s goals, surely that organization will honor the work with promotion and all other benefits. So, getting promoted from your designation is in the hands of you, employees will speak to the organization during the promotion period. To clinch your career growth by showing your hard work and loyalty to uplift the organization’s growth.
From joining as a Probationary Officer, you can enjoy a handsome pack of SBI PO salary 2023, allowances, perks, etc. Then for your exceptional career growth, there are various promotion options. The promotion stages of the SBI PO are defined in a stepwise manner below.
Each candidate who was selected through PO recruitment must have worked for a Probation Period of 2 years like training to know about banking services and responsibilities in the aspects of clerical activities, bank accounts opening, customer service, processing, or the passing of loans, etc. This training will be provided through retail and rural banks. Scale 1 Officers training will be given in the SBI training institutes. Candidates who have completed the probation period successfully will attend the screening process conducted by SBI. Those who are qualified will be appointed as scale 1 officers or may promote as scale 2 officers.
We hope the above-provided information will enlighten your thoughts about SBI PO salary 2023 and career growth. After that, you may realize how important this life-changing career is for you. To clinch the SBI PO career, first, you have to apply for SBI PO recruitment 2023 and do hard work to clear all the recruitment processes. Only then you can achieve your goal and enjoy the SBI PO salary 2023 and other benefits.
If you achieve the minimum standards set by the SBI at various levels, then it is a permanent job. The job position is explained in detail here for your convenience. At joining time you have to enter into the agreement by signing a bond of ₹2 lakhs. The bond depicts that you have to work in the bank for a minimum of 3 years. If you violate the agreement, then the bank will execute the bond to claim the amount from you.
From the stature of probationary officers, the candidates have to pass the various assessments to move on to the next level. The next higher level is Junior Management Grade Scale-I (JMGS-I). From this stature, you can go to the next higher level of Middle Management Grade Scale-II (MMGS-II). It can be attained by achieving higher scores/standards set by the bank. If the candidate fails to achieve the set scores/standards, the bank may terminate you from the job.
So, the SBI PO job is a permanent job, as you achieve the standards of the bank. The candidates clearing the tougher exams of SBI PO mains and interviews will have no concerns about this. So enjoy your work and don’t put pressure on yourself. Check the complete SBI PO Salary 2023 details here in this article.
Here candidates can refer to the SBI bank PO salary 2023 related FAQs. So that you can get a clear vision of it.
Q: Which bank PO gets the highest salary?
A: Without any doubt, it is SBI PO Salary 2023 that offers the highest salary for the PO cadre.
Q: Is any bond will be executed at the time of joining as an SBI PO?
A: Yes, a bond is executed at the time of joining. The value of the bond is ₹2 lakhs.
Q: What is the basic SBI PO Salary 2023?
A: The basic SBI PO Salary 2023 is ₹41,960
Q: What are the perks provided apart from the SBI PO salary 2023?
A: The perks provided under the SBI PO salary profile 2023 are: