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

SBI PO Salary 2019: 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, ensures a secure future for its employees. It provides financial security and social status. Hence, every year lakhs of candidates appear for the SBI PO exam to get into the banking sector. The SBI PO 2019 Preliminary exam is scheduled to be conducted on 8th, 9th, 15th & 16th June 2019. Candidates appearing for the exam might be wondering about the SBI PO Salary. In this article, we will provide you with detailed information about SBI PO Salary – detailed SBI PO salary structure, allowances, and other benefits. Apart from SBI PO Salary details, we will also give information about the SBI PO job profile – roles and responsibilities, and scope of growth.

SBI PO Salary 2019

Presently, the starting basic pay is 27,620/- (with 4 advance increments) in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020. The official will also be eligible for D.A, H.R.A/ Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time. The total SBI PO Salary per annum on CTC basis be a minimum of 8.20 lakhs and maximum of 13.08 lakhs (depending on your place of posting and other factors). According to the official notification, SBI may offer, subject to necessary approvals, a SMART Compensation Package which would enable candidates a choice to monetize specific elements of the SBI PO salary package.

SBI PO Salary Structure

Apart from the basic pay of Rs 27, 620 (in the scale of 23700-980/7- 30560-1145/2-32850-1310/7-42020), the SBI PO Salary will include the following allowances:

SBI PO Salary 2019: Allowances
Dearness Allowance (DA) The DA is calculated based on the Consumer Price Index (CPI) and is revised every quarter. You can expect your DA to be around 46 percent of the basic pay. However, it will go up or down based on inflation.

 

City Compensatory Allowance (CCA) This is calculated based on your city of posting and ranges between 3 to 4 percent of the basics.
Leased House Accommodation / House Rent Allowance (HRA) This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai).
Travel Allowance (TA) SBI PO gets reimbursement of travel cost for official travels.

 

Furniture Allowance Rs 1,20,000 for the purchase of furniture

SBI PO Salary: Additional Benefits

Apart from the above-mentioned allowances, an SBI PO will also get the following benefits:

SBI PO Salary: Additional Benefits
Medical insurance (100 percent for SBI PO and 75 percent 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

SBI PO Salary: Perks Of Being An SBI PO

Apart from the SBI PO Salary, the following are the perks of being an SBI Probationary Officer:

a) Financial stability and security

b) Great growth opportunites

c) Social status

SBI PO Job Profile: Roles And Responsibilities

The SBI PO has a probation period of 2 years during which they learn the various aspects of banking. This include supervising clerical activities, customer service, processing loans, opening bank accounts, etc. They will also learn about various fields of banking like Retail Banking, Rural Banking, etc. Apart from this kind of on-site training, Probationary Officers also get trained at SBI training institutes. SBI PO, which is Junior Management Grade Scale-I, after completion of the probation period, will undergo screening, and after qualifying it, they will be promoted to Officer Middle Management Grade Scale-II.

SBI PO Salary: SBI PO Promotion And Career Opportunities

The career path for SBI PO: the promotions and career growth is as under:

SBI PO Salary: SBI PO Promotions & Career Growth
Probationary Officer
Deputy Manager
Manager
Chief Manager
Assistant General Manager
Deputy General Manager
General Manager
Chief General Manager