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.

Latest: [Start preparing for SBI PO 2020 with S Chand Test Series ]- Start Practice 

SBI PO Salary 2020

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.

SBI PO Salary 2020 - Highlights

Particulars

Specification

Basic Pay as per SBI PO 2020 salary

Rs. 27,620

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

Furniture Allowance

Rs. 1,20,000

Medical Insurance

Employee : 100%

Family members : 75%

Travelling Allowance

AC 2-tier fare is reimbursed to the employee for official travels

Petrol Allowance

Rs. 1,100 – 1,250

CTC

Rs. 7.55 – 12.93 lakh per annum

SBI PO 2020 Salary Other Benefits

  1. 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.

  2. Housing - SBI PO salary also includes housing rent allowance.

  3. 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.

  4. 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.

  5. Holiday homes - SBI employees are entitled to holiday homes and employees' guest houses at major cities and tourist destinations across the country.

  6. 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.

  7. 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.

SBI PO Career Path 2020

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.

SBI PO 2020 Full Practice Mock Test

Start preparing for SBI PO 2020 with S Chand Test Series

Start Practice

SBI PO 2020 Job Role

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.

SBI PO Promotion Ladder 2020

  1. Probationary Officer

  2. Assistant Manager

  3. Deputy Manager

  4. Manager

  5. Chief Manager

  6. Assistant General Manager

  7. Deputy General Manager

  8. General Manager

  9. Chief General Manager

  10. Deputy Managing Director

  11. Managing Director

  12. Chairman

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:

  • Social Status

  • Mental Stability

  • Job Security

Frequently Asked Question (FAQs) - SBI PO Salary 2020

Question: Will I be getting my salary during my probation period?

Answer:

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. 

Question: In various banking training courses at Manipal, a particular amount is charged, so, do I have to pay for training here at SBI too?

Answer:

No, you need not pay any amount during your training.

Question: What is the minimum education qualification required to be eligible for SBI PO 2020 exam?

Answer:

A graduate from a recognised university in the age group of 21-30 years is eligible to apply for SBI PO 2020.

Question: Is there any limit for the number of attempts for the SBI PO exam?

Answer:

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.

Question: Can the date of SBI PO 2020 exam allotted to me be changed?

Answer:

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.

Question: Will I get any SBI PO salary during my probation?

Answer:

Yes. Employees will be entitled to SBI PO salary 2020 on probation period of two years.

Question: Are SBI PO employees entitled to pension?

Answer:

Definitely. A PO appointed in SBI is entitled to pensions and other benefits after retirement as per instructions of the bank.

SBI PO Updates and Articles

Questions related to SBI PO

Showing 244 out of 244 Questions
17 Views

I am purshuing 3-2semistor and I am 20 years , can I apply for SBI PO (or) IBPS PO this year

Priyaanka Sarkar Student Expert 29th Mar, 2020

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.

4 Views

what are the bank exams in 2020

Nikki Nair 18th Mar, 2020

Hello Aspirant

The various upcoming bank exam are as follows

  1. SBI PO 2020:Prelims:June /July 2020 Mains at August 2020
  2. SBI clerk:Prelims:are done mains :april 19th
  3. SBI specialist officer:March 8 2020
  4. IBPS officer :Prelims :1,2,8,9,16 August and Mains 9September 2020
  5. IBPS PO
  6. IBPS clerk
  7. RBI Assistant
  8. RBI grade B

I hope this helps

Regards!

2 Views

where we will get the information regarding the application for SBI PO EXAM

Smrity 18th Mar, 2020

Hello,

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:

https://competition.careers360.com/exams/sbi-po

I hope this helps.

All the Best!

19 Views

hey... I am so 20 years old so can i give sbi(po) exam this year(2020)

Ankita yadav 17th Mar, 2020
Hi aspiran
As you are 20 now and the required age is 21 so for now you cannot apply for SBI exam. Now you have to wait for 1 year and so that for this time you can prepare more better for your 1st attempt.
3 Views

sbi po k liy graducation m kitne % percentages hone chiye

Papeya Dubey Student Expert 16th Mar, 2020
Hello,

In order to apply for SBI PO, you just need to have passed graduation in any discipline from a recognized university,there's no minimum aggregate required in this matter. In fact, in most of the exams like UPSC, SSC CGL, or other banking exams like IBPS,SBI clerk/PO these exams don't need any specific aggregate except RBI Grade B for which it's compulsory to have 60% in 10th,12th and graduation.

Related E-books and Sample Papers

Top
The question have been saved in answer later, you can access it from your profile anytime. Access now

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

Careers360 App
150M+ Students
24,000+ Colleges
500+ Exams
1500+ E-books