SBI Salary 2022: Check in-hand salary, allowance, perks, and other benefits for all SBI Vacancies!

Safalta Expert Published by: Deepesh Mehra Updated Sat, 07 May 2022 08:37 AM IST

Highlights

Looking for details on SBI salary? Check in-hand salary, allowances, benefits, job profile and more here at Safalta.com.

Confuesd about SBI Salary and vacancy? SBI Vacancies are one of the most sought-after Bank Vacancies. Each year State Bank Of India recruits thousands of candidates into various capacities. SBI Releases the notification for a number of opportunities that have details related to eligibility, vacancy, syllabus, and salary. The candidates preparing for the bank exams must have an idea of the SBI Salary for various posts along with that they must also keep an eye on the job profile and avenues for promotions for each post. The salary, job profile, and responsibilities vary as per the nature of service. The candidates who get recruited as Probationary Officers have better salaries and job profiles than other posts.  If you are preparing for Bank exams then download our free e-book: A Complete Book of Data Interpretation and AnalysisHere are some essential details related to SBI Recruitment :
  1. The salary in SBI is as per the provisions of 11th Bipartite Settlement.
  2. The SBI PO's basic salary is around - Rs. 27,620.
  3. The SBI Clerk's basic pay is around Rs 26000.
All the posts in SBI are eligible for allowances and benefits like Dearness Allowance, House Rent Allowance, Travelling Allowance etc. The amount of these salaries vary as per the basic salary, The job in SBI is often much more than the salary and allowances, though the salary and allowances are lucrative the work experience and opportunities of growth in SBI are immense. The space below has all the details related to SBI Salary for various posts along with the job profile and growth opportunities. If you are preparing for IBPS PO Exam and are looking for expert guidance, then join now: IBPS PO (PRE + MAIN) Complete Batch.

 

SBI Salary Structure 2022


The salary structure for various posts is as per the 11 th Biparte Settlement and is generally one the best in Class. The SBI offers one of the most competitive salaries and the best work environment. The lucrative salaries that SBI offeres attracts lakhs of candidates to these posts. Let's have a look at the detailed salary and job prospects that SBI has to offer. The various posts covered here are as follows:
  1. SBI PO 
  2. SBI Clerk
  3. SBI CBO 
  4. SBI Apprentice

The details relatd to SBI Salary are as follows:

Check out Bank PO Salary here.

SBI Salary: Probationary Officers 

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 SBI PO Salary is in a range of Rs. 45,000 to 50,000.
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 2022: In-hand salary, allowance, perks, and other benefits

SBI PO Growth Opportunities and 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.
 

Growth Opportunities 

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
Check out the RBI Grade B Salary here with us.

SBI Salary: Clerical Posts

The basic SBI Clerk Salary in India is currently Rs.19,900/- (Rs.17,900/- plus two advance increments for graduates), with several increments applied as the employee progresses through the Bank. The pay structure for an SBI Clerk includes a number of other factors that make this role attractive.

The following are the main features of the SBI Clerk Salary Structure in India:
SBI Clerk Salary structure in India
SBI Clerk Salary in India- Basic Pay Rs.17,900/-
Salary after 1st Increment- Rs. 20.900/-
Salary after 2nd Increment-Rs. 24,590/-
Salary after 3rd Increment- Rs. 30,550/-
Salary after 4th Increment- Rs. 42,600/-
Salary after 5th increment- Rs 45,930/-
Salary after 6th increment- Rs 47,920/-
Dearness Allowance Based on the Consumer Price Index
House Accommodation Depends on the place of posting.

 Other benefits and allowances are given to the employee, which is a big draw for aspirants from all over the world.

The allowances for SBI Clerk are as follows:
  • Allowance for Dearness
  • Health-care coverage
  • Allowance for House Rent
  • Allowance for Transportation and Furniture
  • Allowance for the City
  • Basic Needs – Newspaper, Cleansing, Petrol, and so on
The allowances or benefits given to workers vary depending on the city in which they work.

SBI Clerk Job Profile and Growth 


The job profile and growth opportunities for SBI PO are as follows:
  • Dealing with clients
  • Managing cash registers
  • assisting consumers with updating their passbooks, checkbooks, and other tasks
  • Assisting the supervisors
  • Assisting consumers in obtaining loans and completing their paperwork
  • Account opening and closing
Get to know Best Books for RBI Grade B.

SBI Salary: CBO 


Candidates who are recruited as SBI CBO will be placed under Junior Management Grade Scale 1. The initial basic pay of the SBI Circle Based Officer has been incremented to Rs. 36,000/- on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Junior Management Grade Scale-I. SBI CBO Salary sees an increment of 1 grade for every one year of service.

 

SBI Circle Based Officer Salary 2022
Allowance Amount
Pay Scale 36000-1490/7-46430-1740/2- 49910-1990/7-63840
Basic Pay Rs. 36,000
Dearness Allowance (DA) Rs. 16,884
House Rent Allowance (HRA) Rs. 2520
City Compensatory Allowances (CCA) Rs. 1080
Gross Salary  Rs. 58,484
Deduction  Rs. 8187.6
Net Salary  Rs. 50,296.24

The net salary of SBI CBO officers amounts to Rs 50,296.24.

Best Books to Prepare for SBI PO: Check all the details here!

SBI CBO Career Growth and Promotion

On recruitment, candidates are appointed to the post of Circle Based Officer. They have to serve a specific duration of probation period during which they are assessed. They will get a permanent job under Junior Management Grade Scale-I (JMGS-I). Candidates will be in the general cadre and promotions will take place as per the promotion policy of the bank for general cadre officers. The selected candidates will not be entitled to inner-circle transfer up to his/ her promotion to SMGS-IV Grade OR 12 years of service, whichever is later.
 

SBI Salary: Apprentice

Candidates must first know that SBI Apprenticeship is not a job. It is an apprenticeship where selected candidates work with SBI for a period of one year which may be extended to a maximum of three years. Selected candidates receive a monthly stipend amounting to Rs. 15,000 in first year, Rs. 16,500 in second year and Rs. 19,000 in the third year. Other than this, candidates are not eligible for allowances, benefits, etc. 

Year

Stipend per month

1st year

Rs. 15000/-

2nd year

Rs. 16500/-

3rd year

Rs. 19000/-



SBI PO Syllabus 2022: Download subject-wise free syllabus PDF here!

SBI Apprentice Job Profile

Candidates who are selected for this Apprenticeship program will work in SBI for one year. As already mentioned this is not a job but an apprenticeship program. Hence the nature of roles and responsibilities for SBI Apprentice is different from that of other bank employees. The work that SBI Apprentice has to do includes the following:

  • Performing administrative activities to understand how the bank and its various departments work

  • Providing after-sale services

  • Completing the tasks as assigned by the supervisor



     

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How are the salaries in SBI Decided?

The salaries in banks are based on Bipartite settelment.

What is tha salary of SBI PO?

An SBI PO gets a total of Rs 52000 to 55000 INR in-hand Salary.

What are the allowances that are given in SBI?

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

What is the highest post in SBI?

The Chief Executive Officer is the highest post in SBI.

Who selects the candidates for the top most posts in SBI?

The Bank Bord Beaureau Selects the top officials in PSBs. 

Which is the largest bank in India?

SBI is the overall largest bank in India. The largest public sector bank is HDFC.

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