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SBI PO Salary 2023 - Structure, Job Profile, In hand Salary, Allowances

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SBI PO Salary 2023 - Structure, Job Profile, In hand Salary, Allowances

Edited By Devnath Tiwari | Updated on Nov 01, 2023 10:40 AM IST | #SBI PO

SBI PO Salary 2023 - The State Bank of India mentioned the details about the SBI PO 2023 salary in the official SBI PO notification. According to the SBI PO salary in hand, the employees will get in hand salary of Rs. 41,960. Along with the SBI PO in hand salary 2023, SBI will provide other allowances such as home allowance, DA, travelling allowance, home rent allowance and other benefits for those who clear the SBI PO exam. Candidates who get shortlisted/selected as State Bank Probationary Officers, are entitled to lucrative compensation in the form of an SBI PO starting salary, along with the best benefits when it comes to the public sector banks.

SBI PO pay scale is one of the major aspects that fascinates a lot of aspirants who are opting for this job profile. In this article, we will tell you about the SBI PO salary 2023 and other allowances, benefits and perks that a PO is entitled to after getting recruited by SBI. Along with the State Bank PO salary, candidates can check their career growth prospects, promotion opportunities and other important information. Read till the end to find all the latest information on the salary of SBI PO 2023.

SBI PO salary 2023 - In-Hand

A candidate after getting recruited as a Probationary Officer in the State Bank of India gets an SBI PO salary basic pay of Rs, 41,960 (with 4 advance increments).

SBI PO Salary 2023 - Increment

From the following table, candidates can get to know the starting in-hand salary of SBI PO 2023. This SBI PO starting salary may vary according to various factors like the area of posting, seniority, post etc.

SBI PO 2023 Salary

Basic Pay

Rs.41,960/- (with 4 advance increments)

1st Increment

Increment of Rs. 1490/- for the next 7 years

2nd Increment

Increment of Rs. 1740/- for the next 2 years

3rd Increment

Increment of Rs. 1990/- for the next 7 years

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SBI PO Pay Scale 2023

From the following table, candidates can also check the SBI PO year-wise basic pay and annual increment:

SBI PO year-wise Increment
PeriodIncrementBasic Salary
First 7 yearsRs. 1490Rs. 36000
Next 2 yearsRs. 1740Rs. 46430
Another 7 yearsRs. 1990Rs. 49910
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SBI PO Salary 2023 - Allowances

Apart from the basic pay, candidates are also entitled to various other SBI PO allowances and perks. The SBI PO perks and allowances are mentioned in the table below -

SBI PO 2023 Salary Perks and Allowances

Perks and Allowance

Amount

Dearness Allowance (DA)

46.9% of the total Basic Pay

City Compensatory Allowance

3% – 4% depending upon posting the location of the PO

House Rent Allowance (HRA)

7% – 9% depending on the Place of Posting of the PO

Furniture Allowance

INR 1,20,000

Medical Insurance

100% cover for employees and 75% cover for dependent family members

Travelling Allowance (TA)

AC 2-tier fare is reimbursed to the employee for official travel visits only

Petrol Allowance

INR 1,100 – 1,250

Loan Benefits

The employees get low-interest rates/discounts on loans

Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.

Varies based on Cadre

State Bank PO Salary 2023 - Benefits

Along with the above-mentioned perks and allowances, there are various other benefits also to which candidates are entitled. The SBI POs get the following benefits -

  • Reimbursement of the Telephone bill

  • Cashless treatment in selected medical facilities around the country

  • House maintenance allowance

  • Entertainment allowance

  • Concessionary interest rates for - personal loans, car loans and house loans.

Quick links:

SBI PO Salary 2023 - Career Growth

After qualifying for the SBI PO exam, candidates have to undergo a training period. The training period is also known as the probation period which lasts for 2 years. Post completion of the probation period, candidates will be posted as Assistant Managers in SBI Branches. From the following process, candidates can get to know the posts which they can achieve through promotion.

  • Assistant Manager

  • Deputy Manager

  • Manager

  • Chief Manager

  • Assistant General Manager

  • Deputy General Manager

  • General Manager

  • Chief General Manager

  • Deputy Managing Director

  • Managing Director

  • Chairman

SBI PO 2023 salary - Job Profile, Roles & Responsibilities

Candidates who get recruited as SBI PO are to perform various jobs as mentioned below -

  • During the initial phase, they will have to supervise clerical activities.

  • Get involved in customer service.

  • Work in the processing of loans, opening new bank accounts, etc.

  • PO will also have to learn about Retail Banking, Rural Banking, etc.

SBI PO Salary 2023 - Deduction

There is a monthly deduction from the gross SBI PO salary 2023. Check the table that is given below to know more about the deductions in the Bank SBI PO salary.

SBI PO Salary Deduction
ParticularsAmount
PF ContributionRs. 4,196/-
Income TaxRs. 3,290/-
Professional TaxRs. 200/-
Contributory Pension FundRs. 5,274
Total DeductionsRs. 12,960

Candidates will be sent on on-site training at SBI training institutes. After completion of the probation period, they will undergo screening, and after qualifying, will be promoted to Officer Middle Management Grade Scale-II.

More salary articles related to popular exams in India

Frequently Asked Question (FAQs)

1. What is in hand salary of SBI PO?

The starting in-hand salary of SBI PO 2023 is Rs. 36000 approx.

2. Is SBI PO a good job?

Yes, it is one of the best jobs due to which it also attracts a lot of applicants on a yearly basis. The SBI PO 2023 salary, perks, allowances, promotions are one of the best when compared with other bank PO jobs.

3. What is the salary of SBI PO after 5 years?

The salary of SBI PO after 5 years can cross the Rs. 50000 figure.

4. Which bank PO gets the highest salary?

SBI offers the best salary and perks when it comes to PO. As being a public sector bank, the SBI PO job is also treated as respectable. A probationary officer in SBI gets the best salary.

5. Does an SBI PO get any allowances?

Yes, there are a lot of allowances apart from the salary that an SBI PO is entitled to. The allowances are - Dearness Allowances, House Rent Allowances, Travel Allowances etc.

6. How to apply for the post of SBI PO in 2023?

Candidates can apply for SBI PO 2023 online at sbi.co.in.

7. What is HRA in SBI PO salary?

HRA stands for House Rent Allowances. HRA is an add-on other than the salary which is paid to the employees for accommodation cost for living in the city of posting.

8. What is the starting salary of SBI PO?

The starting salary of SBI PO 2023 of a Probationary Officer in SBI is Rs. 36000.

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Questions related to SBI PO

Have a question related to SBI PO ?

Hello Aspirant,

See if you are currently in fourth year then you cannot apply for SBI PO, this is because for SBI PO the candidate must have completed his/her graduation or should be in final year of graduation by the ending of application process and for SBI PO 2022, the application process has not started yet but whenever it will be, by that you must not have completed your graduation because you have one more year to study so you can try for SBI PO 2023 because you will be in your final year by then.


ELIGIBILITY CRITERIA FOR SBI PO :-

>>>>> Age of the candidate should be in the range of 21-30 years with relaxation of 5 years for SC/ST category and 3 years for OBC category.

>>>>> The candidate should have at least graduation degree in any discipline including B.Tech./BA/B.Com..... and so on. However the candidates in final year of graduation are also eligible to apply for SBI PO.

>>>>> For General category maximum number of attempts allowed are 4.


For detailed eligibility criteria of SBI PO kindly check out the link given below :-

https://competition.careers360.com/articles/sbi-po-eligibility-criteria


I hope this information helps you.

Good Luck!!

hello aspirant,

YES, you will be eligible for appearing SBI PO Exam by 2025. The age limit eligibility criteria for SBI PO Exam is that candidates must be between 21 years to 30 years if age to appear for the exam. So, by March 2025, you will be 21 years of age. And therefore, you can appear for SBI PO Exam in 2025.

To know more about the SBI PO Exam, you can follow the below mentioned link : https://competition.careers360.com/exams/sbi-po

I hope that this will help.

DEAR ASPIRANT

YOU DON NOT NEED ANY COMPUTER CERTIFICATE. YOU JUST NEED BASICS OF COMPUTER SO ,WHILE WORKING YOU DO NOT STRUCK AT ANY PROBLEM .

DON'T TAKE TENSION ABOUT CERTIFICATE JUST PREPARE WELL FOR EXAM BECAUSE COMPETITION IS SO HIGH .PREPARE WELL AND YOU WILL CRACK IN FIRST ATTEMPT ONLY.

SBI PO have the lower age limit of 21 years. Its required that the candidate must be of 21 year as on 1st April,2023. So you aren't eligible as on 1st April,2023 you will be 20years 11months 30 days. You will be eligible for the examination from the SBI PO 2024.

For more information regarding SBI PO consider the link below:

https://competition.careers360.com/exams/sbi-po#:~:text=Candidates%20who%20meet%20the%20eligibility,only%20appear%20for%20the%20test.

I hope this helps. Wish you a great eve!

Hello Aspirant,

See SBI PO is a selection process for the post of Probationary Officer in State Bank of India. It consists of three stages, first stage is of preliminary examination which is only qualifying in nature, second is Mains examination followed by the third stage that is of Interview and the final merit list is prepared on the basis of last two stages.

Now if you are a Biology stream student then also you will be eligible for PO exam but after completing your graduation because for PO examinations the candidate should at least have graduation degree from any central/state recognized institution.

ELIGIBILITY CRITERIA FOR SBI PO :-

>>>>> Age of the candidate should be in the range of 21-30 years with relaxation of 5 years for SC/ST category and 3 years for OBC category.

>>>>> The candidate should have at least graduation degree in any discipline including B.Tech./BA/B.Com..... and so on. However the candidates in final year of graduation are also eligible to apply for SBI PO.

>>>>> For General category maximum number of attempts allowed are 4.


For detailed eligibility criteria of SBI PO kindly check out the link given below :-

SBI PO Eligibility Criteria 2021 - Age, Attempts Limits, Qualification, Nationality (careers360.com)


I hope this information helps you.

Good Luck!!

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A metallurgical engineer is a professional who studies and produces materials that bring power to our world. He or she extracts metals from ores and rocks and transforms them into alloys, high-purity metals and other materials used in developing infrastructure, transportation and healthcare equipment. 

2 Jobs Available
Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

4 Jobs Available
AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

4 Jobs Available
QA Manager
4 Jobs Available
Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

3 Jobs Available
ITSM Manager
3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

3 Jobs Available
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