SBI PO Salary 2020 - State Bank of India provides their employees with the best compensation in terms of SBI PO 2020 salary. To give a boost to the preparation, an aspirant might be interested in knowing the SBI PO salary. Along with the basic salary, an individual working as PO receives numerous benefits in the form of allowances and compensations. The life of an SBI PO is very much financially secure with SBI PO salary 2020 in hand and the allowances associated with the post.
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A graduate in any discipline from a recognised university between the age of 21-30 years is eligible to apply for the posts of SBI PO 2020 exam. It is a three stage exam consisting of preliminary, mains, group exercise and interview.
Basic Pay as per SBI PO 2020 salary
SBI PO 2020 Pay Scales
23,700 – 980/ 7 – 30,560 – 1,145/ 2 – 32,850 – 1,310/ 7 – 42,020
Dearness Allowance associated with SBI PO salary 2020
46.9% of basic pay
City Compensatory Allowance
3% – 4% depending on place of posting
House Rent Allowance as per SBI PO 2020 salary
7% – 9% depends on place posted
Employee : 100%
Family members : 75%
AC 2-tier fare is reimbursed to the employee for official travels
Rs. 1,100 – 1,250
Rs. 7.55 – 12.93 lakh per annum
Compensation - The total compensation per annum for a PO ranges from 7.55 lakhs to 12.93 lakhs per annum depending on the place of posting and other related factors.
Housing - SBI PO salary also includes housing rent allowance.
Leave policy - SBI PO receives 12 casual leaves, 33 privilege leaves and 15 medical leaves per year. A 6-month maternity leave is also permitted to a women. Women and single men with children or aged parents have the provision to take sabbatical leave of up to 2 years.
Leave travel concession (LTC) – LTC is another benefit apart from the SBI PO 2020 salary that an employee can avail in a block of either 2 or 4 years.
Holiday homes - SBI employees are entitled to holiday homes and employees' guest houses at major cities and tourist destinations across the country.
SMART compensation package – SBI is one of the first banks in the country to provide a package where a PO is able to monetize certain parts of their compensation package as per SBI PO salary 2020.
Constant training and professional development – SBI PO position is an intellectually demanding one. SBI trains all its PO regular basis and ensures that they remain updated with the nuances of banking.
Two years intensive training is provided to the Probationary Officers of SBI. After the end of the probationary or training period, an officer is required to appear for a screening test. Qualified officers will be placed in the next higher grade. Annual appraisal in SBI is fair and transparent. A dedicated employee of SBI has immense growth opportunities. An employee recruited as SBI PO is able to reach top management grade through departmental exams and promotions. Foriegn postings in SBI PO are also available.
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An aspirant of SBI PO must also know the job responsibilities entrusted along with the post. The job role of an SBI PO can be divided in two phases, during and after the probation period.During the Probation Period: The probation period in SBI aims to make a candidate broadly aware of general banking, marketing strategies, customer handling and regulatory compliance. An SBI PO has the under mentioned responsibilities:
Customer Services: Service delivery to customers includes the day to day banking operations like opening new accounts, security custodian of debit (ATM) cards, making FDs, loan processing, NEFT/ RTGS processing and issue of ATM cards, cheque books, demand drafts etc.
Marketing and Business Lead Generation: A PO will be the direct channel of the bank interacting with customers on a daily basis.
Cash Handling: Clerical activities, like accepting cash deposits and withdrawals also are to be performed by a PO in unavoidable circumstances.
Authorising Operations: SBI follows the maker and checker system where the PO is responsible for verification of all the transactions processed by bank clerks. In cash, clearing and operations transactions, the clerk is the maker and PO is the checker and the responsibility of losses lies with the checker.
Report Filling: You would be assigned to generate reports of the daily operational transactions like deposits, withdrawals, ledger balances, etc.
Daily Work Communication: As PO you will be interacting with the customers, stakeholders and regulators. Maintaining track of new developments, customer interactions and official communication will be a part of your daily work communication.
After the Probation Period: After completion of 2 years and qualifying the screening test, more responsibilities across the operations domain will be entrusted. The post after probation will be Assistant Manager. The highest position that one can hold after the probation period is the Officer Middle Management Grade Scale-II.
Assistant General Manager
Deputy General Manager
Chief General Manager
Deputy Managing Director
However, it requires mention that the life of Probationary Officers is not only financially secure with the salary of SBI PO 2020 but also comes with varied perquisites:
Yes, you will definitely get SBI PO salary 2020 during your probation period which will be of 2 years from the date of your joining.
No, you need not pay any amount during your training.
A graduate from a recognised university in the age group of 21-30 years is eligible to apply for SBI PO 2020.
Yes, there exists a limit to the number of attempts to apply for SBI PO. However, the limit is counted on the basis of mains. A candidate belonging to the general category can sit for 4 mains, OBCs for 7 mains and no limits for SC/STs.
No. The requests for changes in the date and time allotted to you will not be entertained by the bank under any circumstances. The details of the exam centre and date will be mentioned in SBI PO Admit Card 2020.
Yes. Employees will be entitled to SBI PO salary 2020 on probation period of two years.
Definitely. A PO appointed in SBI is entitled to pensions and other benefits after retirement as per instructions of the bank.
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Rama, for being eligible for SBI PO, you need to be between 21 to 30 years . There is an age relaxation for Reserved Categories. If you are 20 years, you should turn 21 at least by April 1st, 2020. If you do not turn 21 by 1st April 2020, you might not be eligible for SBI PO.
But for IBPS PO, the minimum age limit is 20 years and so you qualify for appearing for IBPS exam. Regarding you studying our Final year graduation, Graduates with a Bachelor's degree in any discipline are eligible for both SBI PO and IBPS PO. And those who are appearing for their final year exams are also eligible. But their recruitment is subjective to fulfillment of the eligibility criteria required.
In short, you have to wait for SBI PO until next year but can appear for IBPS PO this year.
The various upcoming bank exam are as follows
I hope this helps
The application form of SBI PO Exam 2020 will be released on 2nd April,2020(tentatively)
To get the detailed information regarding the exam pattern.syllabus, Eligibility criteria, Exam centers and every detail, you can visit the link below:
I hope this helps.
All the Best!
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