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Bank Po Salary 2021:In-hand salary, allowance, perks, and other benefits

Safalta Expert Published by: Deepesh Mehra Updated Fri, 06 Aug 2021 06:26 PM IST

Highlights

Check out Bank Po Salary; Get details on the salary of SBI PO, IBPS PO, RRB PO here with Safalta.
Probationary Officers or Bank Po is one of the most sought-after jobs in the banking sector. There are various exams conducted to recruit PO's in different public and private sector banks. The exams to recruit PO includes SBI PO, IBPS PO, IBPS RRB PO. The Bank PO Salary varies from bank to bank depending upon the bank. Overall the basic salary is and basic allowances in all the banks are as per the recommendations of 7 th pay commission. The salary of Bank Po through IBPS is Rs 23,700 and SBI PO gets a basic pay of around Rs. 27,620. The allowances and perks vary from bank to bank, but they generally include broadheads like Darkness Allowance, House Rent Allowance, Travelling Allowance etc. Bank Pos are also eligible for a range of benefits which shall be covered in this space along with other salary details. If you aspire to work as a PO in a leading bank of India, come and prepare with us- subscribe to Safalta's free course, and download Safalta App

Bank PO Salary Structure

The salary structure through various examinations like SBI PO, IBPS PO, RRB PO is covered here. They all are guided by the recommendation of 7 th CPC. Allowances across the sector are almost the same but the amount may vary from bank to bank.

SBI PO Salary Structure

The basic pay of SBI PO is Rs 27,620. The pay scale is 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. This means the PO will get a basic of Rs 23700 with an increment of Rs 980 for the next 7 years, followed by a basic of Rs 30560 with an annual increment of Rs 1145 for the next two years and so on. The per month salary of PO in SBI is in a range of Rs. 45,000 to 50,000.
Source: safalta.com



The allowances paid to SBI PO are as follows:
  1. Dearness Allowance is 46.9% of basic pay- Increases with time.
  2. City Compensatory Allowance(CCA)- 3% / 4%(depends upon the place of posting).
  3. Leased House Accommodation- Minimum- Rs 8000/-(Rural)/ Maximum- Rs 29500/-(Urban)
  4. Medical Insurance - 100% for employees/75% for family members
  5. Furniture Allowance- Rs 120000/-
  6. Travelling Allowance is also provided to PO's - A reimbursement will be offered for AC-2Tier travels (Exclusively for official travels)
  7. Miscellaneous -Rs 4000/-
  8. Total Compensation -7.5 lakhs to 12.9 lakhs annually

IBPS PO Salary Structure 

The pay scale is 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. This means the PO will get a basic of Rs 23700 with an increment of Rs 980 for the next 7 years, followed by a basic of Rs 30560 with an annual increment of Rs 1145 for the next two years and so on. 
 
Basic Pay                           Rs. 23700                     
DA Rs. 8,593.20
Learning Allowance Rs. 600
DA Others Rs. 1,552.50
HRA Rs. 3,240
Gross Salary Rs. 57,289.70
Net Salary Rs. 52,630.38

The allowances paid to IBPS  PO are as follows:
  1. Dearness Allowance 
  2. City Compensatory Allowance(CCA)
  3. Medical Insurance 
  4. Furniture Allowance
  5. Travelling Allowance 
  6. Miscellaneous

IBPS RRB PO Salary Structure 

The salary structure of  Rs. 23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42021. We have broken down the salary structure for you. The initial in-hand salary of RRB PO is  Rs. 29,000  to Rs. 33,000.
  basic salary  Annual increment  Number of Years 
On joining  Rs. 23700 Rs.980 7
After 7 years  Rs. 30560 Rs.1145 2
After 9 years  Rs. 32850 Rs.1310 7
Final grade pay  Rs. 42021  

Bank PO - Job Profile

There is generally a probation period of 2 years. After that, the PO become regular officers in Banks. The role and responsibility are the same across the banks, the workload and area of work vary. The RRB officers cater to the financial need of rural and tier 2 towns more as compared to other banks. The brief job profile of Bank PO is covered here,
  • Branch work - related to banking and finance.
  • Sector-specific work - promoting schemes and financial products for agriculture.
  • Managing single-window operating system.
  • Manage day-to-day operations at Bank.
  • Preparing the audit reports and NPA recovery also forms a major job task.
To know more read here.
NRA CET For Graduates Salary IBPS RRB PO Salary IBPS RRB Clerk Salary  What Is SBI PO Salary?
 

Bank PO Salary - FAQ

Q1 What are the exams for Bank PO?

A1 The exams for Bank PO are SBI PO, IBPS PO, RRB PO.

Q2 What is the basic salary of Bank PO?

A2 The basic salary of Bank PO is Rs 23,000.

Q 3 What is the salary structure of Bank PO?

A 3 The salary structure of Bank Po is Rs. 23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310/7 – 42021.

Q4 What is the probation period of Bank PO?

A4 The probation period of Bank PO is 2 years.

Q5 What is the basic allowances as part of Bank Po salary?

A5 The basic allowances as a part of Bank PO salary are dearness allowances, HRA, Travelling Allowances.

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