SBI PO – What Is Salary Structure, Perks, and Allowances

The banking sector has always been popular among the youth when it comes to getting a reputed job. The fact cannot be ignored that the post of SBI PO (Probationary officer) is counted as one of the high in-demand jobs. PO stands for Probationary Officer and comes up with an incredible career growth option. Every year several aspirants attend this exam to get associated with the banking sector being a Bank PO.

Job Responsibilities Of A Bank PO –

Before proceeding further upon SBI PO Salary, let us check out what responsibilities you will be accountable for if you are hired for this post. This desirable post holds a wide array of responsibilities once their training is accomplished including –

• Handlingmultiple operations such as finance
• Billing
• Investment
• Revenue Collection
• Accounting and so on

The prominent benefits of this designation are several such as handsome benefits, lucrative salary, and allowances. SBI PO salary is one of the most discussed topics among candidates who are supposed to get into the banking sector. We all know that this sector is regarded with a lot of respect since it is also accountable to the country’s economy. Not only salary but aspirants also want to know about the perk and other allowances being offered to an SBI PO.

Salary Structure Of SBI PO-

Let us put a full stop to confusion as we are going to mention the SBI PO Salary structure, as many of you seem interested. Generally, the beginning salary also called basic pay is INR 27620. Talking about the increments that you can expect in form of compensation size is being categorized below –

• 23700-980 (7) – To put in simple words, it could be said that PO will receive a basic of INR 23700 along with an increment of INR 980 for the next 7 years.
• 30560 – 1145 (2) –And the second increment will be INR 30560 along with an annual increment of INR 1145 for the next two years.
• 32850 – 1310 (7)- And the third increment will be INR 32850 along with an annual increment of INR 1310 for the next seven years.
• 42020- The maximum basic salary you can expect being on this desirable post is INR 42020.

It means it can be said that a candidate hired for this desirable post will receive an in-hand salary of between 40,000 to 42,000 monthly. Have you been wondering about the gross compensation? It could be in between 8.20 Lakhs to INR 13.08 Lakhs per annum. Though, the amount can also vary a bit depending on the location of the job posting.

What About Other Benefits –

Moreover, this post’s salary also holds a variety of other benefits as well as allowances, which every employee is liable to receive.

• You will be having medical insurance, which would be 100% for SBI PO. Your family members will also have this medical insurance but it will be 75% only. Not only this but you will also be having the facility of cashless treatment within particular medical facilities all across the country.
• You will also have the facility of telephone bill reimbursement and entertainment allowances.
• Apart from it, you will also be having concessionary interest rates regarding car loans, house loans, and personal loans.
• PO officers also have newspaper allowances, books & magazines allowance and petrol allowances.
• A House maintenanceallowance is also offered to this post’s officer.

Most aspirants want to try for this job since it does not only bring perks but some amazing benefits too. First, it ensures your financial stability. You would not have to worry about your financial security at all. This job post also introduces excellent growth opportunities. The more you learn, the more you will earn. Your performance will be rewarded indeed. Moreover, the most important is that it also adds value to your social status indeed. Moreover, we all want to have an established career so that we can be proud of ourselves.

In The Last –

We hope that you might have fallen in love a bit more with this job post after knowing all these salary, perks, and allowances related perks. So, what are you waiting for? It is time to get indulged with the preparation completely so that you get hired for this dream job.

Author Bio

Chetan Sharma is a blogger and digital marketer by profession. He handles a network of multiple websites like teacher text & various others. He helps clients all over the world to achieve digital success.