SBI PO Salary 2023, Check Revised Payscale, Salary Structure, Allowances and More

Safalta Expert Published by: Himani Mehra Updated Fri, 25 Aug 2023 10:27 PM IST

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Check detailed SBI PO salary. Get to know the revised SBI PO payscale, allowances and more.

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SBI PO Salary 2023: All banking applicants are attracted to the SBI PO Salary. The official notification released by the SBI also mentioned the details regarding the salary structure. As mentioned in the notification, the SBI PO Salary structure is 36000-1490/7-46430-1740/2-49910-1990/7-63840. Selected candidates will receive the benefit of various allowances like Dearness Allowances, Home Allowances etc. Further details related to the salary structure and other details are mentioned in this article below.

 

Table of Contents

SBI PO Salary 2023

SBI PO salary is as per the 11th Bipartite Settlement. The pasycale of SBI PO is  36000-1490/7-46430-1740/2-49910-1990/7-63840.

Source: safalta.com

The initial basic salary is Rs. 36,000 and there are four increments. Along with a good salary, there are different allowances such as Dearness Allowance, House Rent Allowance etc which further add to the benefits of this job.

SBI PO Salary Structure


The detailed salary structure of SBI PO is as follows:
SBI PO Salary Structure: Basic Pay
Rs 41,960/- (Increment in 4 stages)

1st Increment- Rs. 36000-1490/7

2nd Increment-Rs. 46430-1740/2

3rd Increment- Rs. 49910-1990/7

4th Increment- Rs. 63840


Other than the basic salary, the other allowances and deductions in SBI PO salary are as follows:
Special Allowance Rs. 6,881
Dearness Allowance: 46.9% of the basic pay Rs. 12,701
Location Allowance: 3% or 4%(depending on the place of posting) Rs. 700
Learning Allowance Rs. 600
HRA Rs. 2,937
Gross Salary Rs. 65,780
Deduction (PF/Income Tax/Professional Tax/Pension) Rs. 12,960
Net Salary Rs. 52,820


Also Read:
SBI PO Eligibility SBI PO Cut Off
How Many Candidates Applied for SBI PO? Bank PO Salary
 

SBI PO In-Hand Salary

The in-hand salary of SBI PO is Rs. 52000- Rs. 55000 per month. As the tenure of service increases there are increments in basic pay and allowance which increment the in-hand salary received by SBI PO. 
 

SBI PO Allowances and Benefits

The different allowances and benefits received by SBI PO are as follows:
Dearness Allowance 
City Compensatory Allowance 
House Rent Allowance 
Furniture Allowance 
Medical Insurance 
Travelling Allowance
Miscellaneous
Petrol Allowance 
Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. 
 

SBI PO Job Profile

There is generally a probation period of 2 years. After that, the PO become regular officers in SBI. The role and responsibility are the same across the banks, the workload and area of work vary.  The roles and responsibilities of SBI PO are as follows:
  • 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.
 
 

SBI PO Career Growth

The growth opportunities for SBI PO are as follows:
They get promoted either on the basis of seniority or clearing the departmental exams held by the bank. Work performance and dedication are crucial in ensuring promotion. The POs are promoted from time to time as per banks policy, their skills are also regularly updated from time to time. The various posts available on promotion are mentioned here. Most of the public sector banks follow uniform guidelines issued by the Ministry of Finance, Government of India, regarding promotion policy matters. The public sector banks follow two channels in case of promotion i.e. the merit channel and the normal channel.
  • Middle Manager – Middle Management Grade Scale 2 
  • Senior Manager – Middle Management Grade Scale 3 
  • Chief Manager – Senior Management Grade Scale 4 
  • Assistant General Manager – Senior Management Grade Scale 5 
  • Deputy General Manager – Top Management Grade Scale 6 
  • General Manager – Top Management Grade Scale 7 
  • Executive Director 
  • Chairman and Managing Director

What is the payscale of SBI PO?

The payscale of SBI PO is 36000-1490/7-46430-1740/2-49910-1990/7-63840.

What is SBI PO basic salary?

The basic salary of SBI PO is Rs 41,960.

Do Probationary Officers in SBI receive allowances?

Yes, SBI PO are eligible to receive various allowances such as DA, Medical Allowance and so on.

What is the probation period of SBI PO?

The probation period of SBI PO is 2 years.

What is the in-hand salary of SBI PO?

The in-hand salary of SBI PO is Rs. 50,000/- to Rs. 55,000/-

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