The SBI PO Salary 2024 is discussed in this article. Check the SBI PO Salary in Hand, Salary Structure, Allowances, Job Profile and Career Growth details in this article…
SBI PO Salary 2024
The SBI PO Salary is an attractive avenue for candidates applying for the PO post. The SBI PO Salaries start at Rs. 41,960 (plus 4 advance increments). The most alluring banking exam in India is the SBI PO. It is one of the most sought-after exams in India owing to SBI PO Jobs and the perks and benefits associated with it. A Probationary Officer has many responsibilities during the training, which includes the task of handling multiple operations such as finance, accounting, billing, investment, revenue collection, etc. during his/ her probation period. Candidates must go through the article below to have a better understanding of the various job posts under SBI PO, salary, perks, allowances, etc. Read further for the SBI PO Salary 2024 details.
SBI PO Salary- Overview
The details of the SBI PO Salary structure, In-hand salary, Job Profile, and career growth are discussed below. Check the overview of the SBI PO Salary 2024 here.
| Feature | Details |
|---|---|
| Organization | State Bank of India |
| Post | Probationary Officer (PO) |
| Category | Bank Jobs |
| Vacancies | To Be Announced (TBA) |
| Selection Process | Prelims – Mains – Group Exercise & Interview |
| Monthly Salary (Gross) | Rs. 65,780 – Rs. 68,580 |
| Allowances | DA (Dearness Allowance), HRA (House Rent Allowance), CCA (City Compensatory Allowance), PF (Provident Fund), Contributed Pension Fund (i.e., NPS), LFC (Leave Fare Concession), Medical Facility, Lease Rental Facility, etc. |
| Job Location | Across India |
| Official Website | www.sbi.co.in |
SBI PO Salary Structure 2024
The State Bank of India Probationary Officer (PO) is considered the most demanding and prestigious government job in 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.
| Component | Amount (Rs.) |
|---|---|
| Basic Pay | 41,960 |
| Special Allowance | 6,881 |
| Dearness Allowance (DA) | 12,701 |
| Location Allowance | 700 |
| Learning Allowance | 600 |
| Gross Salary | 65,780 |
| Deductions | 12,960 |
| Net Salary | 52,820 |
SBI PO Salary 2024-Deductions
Various benefits 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 2024.
| Particulars | Amount (Rs.) |
|---|---|
| PF Contribution | 4,196 |
| Income Tax | 3,290 |
| Professional Tax | 200 |
| Contributory Pension Fund | 5,274 |
| Total Deductions | 12,960 |
SBI PO Salary In Hand 2024
The In-hand salary of SBI PO 2024 ranges from Rs. Rs. 65,780- Rs. 68,580/Month. This amount may vary depending on 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 2024 Increment
The salary and the in-hand salary of SBI PO are subject to increments every year. There is a fixed amount of increment given to every SBI PO based on the period of service given by them. The table below shows the SBI PO Salary increment annually and the final salary.
SBI PO Allowances
The SBI PO Salary includes a basic salary in addition to a number of allowances that increase an employee’s take-home pay. Allowances that come with SBI PO Salary are tabulated below:
| Allowance | Amount | Description |
|---|---|---|
| Dearness Allowance (DA) | 26% of Basic Pay | Variable percentage based on inflation |
| City Compensatory Allowance (CCA) | 3% – 4% | Varies depending on city category |
| House Rent Allowance (HRA) | 7% – 9% | Varies depending on city category |
| Furniture Allowance | Rs. 1,20,000 | One-time allowance for furniture purchase |
| Medical Insurance | 100% (Emp), 75% (Family) | Covers hospitalization and medical expenses |
| Travelling Allowance | AC 2-tier train fare | For official travel within India |
| Petrol Allowance | Rs. 1,100 – 1,250 | For official/personal vehicle usage |
| Other Allowances | Varies | Includes newspaper, entertainment, books, etc. (specific amounts depend on the PO’s position) |
