SBI PO Salary 2024, Revised In Hand Salary, Job Profile, Career Opportunity and Perks

SBI PO Salary 2024: SBI POs get paid more than just their regular salary. They also receive extra money and benefits like housing, cost of living adjustments, health insurance, and other perks. While they’re still learning the ropes, SBI POs work on different tasks like handling money, keeping track of finances, collecting payments, investing money, and more. Becoming an SBI PO is seen as one of the most desirable government jobs in India.

SBI PO Salary 2024 Structure

The starting salary for an SBI PO is Rs. 41,960/- (with 4 steps). The maximum salary is Rs. 63,840/-. This is a management level position. SBI POs also get other allowances like DA, HRA/salary allowance, CCA, medical allowances and other allowances and allowances as per rules applicable from time to time. SBI POs get higher salaries than other bank POs. They also get other allowances. The salary also varies depending on the location. Workers in cities get higher salaries. Candidates will also be entitled to PF, LTC etc..

SBI PO Salary 2024 Structure
Component	Amount
Basic Pay	Rs. 41,960/-
Special Allowance	Rs. 6,881/-
DA	Rs. 12,701/-
Location Allowance	Rs. 700/-
Learning Allowance	Rs. 600/-
Special Allowance	Rs. 6,881/-
Gross Salary	Rs. 65,780/-
Deductions	Rs. 12,960/-
Net Salary	Rs. 52,820/-

SBI PO Salary Deductions

SBI POs receive various benefits in terms of deductions that they can claim while filing their Income Tax Return (ITR) and calculating their tax liabilities. The table below lists all the deductible deductions in the SBI PO Salary structure:

SBI PO Salary Deductions
Particulars	Amount
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

The monthly starting salary for SBI Probationary Officers (POs) is between Rs. 52,000 and Rs. 55,000. Their basic pay is Rs. 41,960. Their yearly total pay is between 8.20 lakhs and 13.08 lakhs. Besides their basic pay, SBI POs also get extra benefits like Lease Rental/HRA, DA, Medical, CCA, and other benefits. The exact amount of these benefits depends on where they work.

SBI PO Allowances

The SBI PO Salary consists of a basic salary along with various allowances, which boost the employee’s take-home pay. Below is a table showing the allowances included in the SBI PO Salary.

SBI PO Allowances
Allowance	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 employees 75% covered for dependent family
Traveling Allowance	AC 2-tier fare reimbursed for official travels
Petrol Allowance	Rs. 1,100 – 1,250
Other Allowances	Varies based on Cadre

SBI PO Allowances and Perks

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.

• Job security and a settled career path in the banking sector.
• Fixed allowances and regular increments.
• Medical insurance covering 100% for the employee and 75% for family members, with cashless treatment available at selected medical facilities nationwide.
• Allowances for newspapers, books, magazines, petrol, house maintenance, and telephone bills.
• Entertainment allowance for leisure activities.
• Concessionary interest rates for House Loans, Car Loans, and Personal Loans.
• Contribution to the New Pension Scheme.
• Leave Travel Concessions (LTC) for travel expenses.

SBI PO Salary After 5 Years

An SBI PO who has worked for 5 years can expect to earn around ₹60,270 per month, including regular pay raises. The salary goes up every year depending on how long the person has been working. Over time, the total yearly earnings also increase.

SBI PO Salary After 5 Years
Time	Increment	Basic Salary
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 Job Profile

Here is the SBI PO job profile:

• Candidates are given training regarding basic banking knowledge before joining through an online course
• They are required to complete the course before joining
• Selected candidates at the time of joining are also required to sign a bond of INR 2 lakhs
• They are required to serve the bank for a minimum period of three years
• The officers will be on probation for two years
• They are subjected to continuous assessment during the probation period
• Candidates meeting the parameters are confirmed in the service
• Those who achieve higher scores are considered for direct placement in the next higher grade, Middle Management Grade Scale-II (MMGS-II) immediately after confirmation

SBI PO Promotions

Once a person passes all the tests to become a bank officer, they start as a probationary officer for up to two years. During this time, they learn about the bank’s work. If they do well, they become a permanent officer. The bank also has exams to help officers move up to higher positions. These positions are numbered 1 to 11, with 11 being the best.

1. Assistant Manager
2. Deputy Manager
3. Manager
4. Chief Manager
5. Assistant General Manager
6. Deputy General Manager
7. General Manager
8. Chief General Manager
9. Deputy Managing Director
10. Managing Director
11. Chairman

Career As an SBI PO

If you become an SBI PO, you’ll get a good salary, benefits, and chances to move up in your career. Banks are always hiring for these positions, so it’s a good opportunity. Many people apply for these jobs every year and are now living comfortably with good incomes.

SBI PO Annual Package

The salary for SBI POs is the highest among all public sector banks in India. The starting salary package is between Rs. 8.20 lakhs and Rs. 13.08 lakhs. The exact salary depends on the location where the PO is posted and other factors.