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

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.

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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 ?

Dear aspirant !!

Hope you are doing well !

The SBI PO candidates must not be below 21 years of age and must not be above 30 years of age to be eligible for SBI PO 2024. The SBI PO qualification for the candidates is to have passed Graduation in any discipline from any recognized university or equivalent.

After becoming the po ,you will get a handsome salary and perks , facilities . You will live a standard life . The exam is not very easy ,you need to work very hard to get the post of po of SBI or any other bank .

For details,visit the link ;-

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://competition.careers360.com/exams/sbi-po/amp&ved=2ahUKEwiC3Ma5k_6DAxXPr1YBHbzDCF4QFnoECBkQAQ&usg=AOvVaw1EvryhQbeL6pqrpDgZXedq .

Hope it helps you

Hello aspirant,

Yes, if you have completed your diploma through remote learning, you are eligible to apply for the SBI PO Exam. Candidates who have obtained their graduation through distance education from an accredited university are eligible to apply for the SBI PO Exam through the State Bank of India (SBI).

But you need to fulfill the eligibility criteria of SBI PO. To know complete eligibility criteria, please visit the following link:

https://competition.careers360.com/user/user-preference/step2?destination=https://competition.careers360.com/articles/sbi-po-2024

Thank you

Hope it helps you.

Hello aspirant,

Candidates must be between the ages of 21 and 30 to be eligible for the SBI PO test; however, reserved candidates are exempt from this age requirement. Applicants must have graduated from an accredited university or passed an equivalent test.

So as you will be 21 years old in 2025, you are eligible for SBI PO exam.

Thank you

Hope this information helps you.

Hello aspirant,

Having  the correct documents is must for any examination. Even if your father's name differ by just one letter, it can put you in problem. So the first thing I would suggest you is to try to rectify these documents so that your father's name match in every document,

Please take it seriously as it is very important.

Thank you

Hope it helps you

Hello hello !!

I am hoping that you are absolutely fine and well. As per your mentioned query, i would like to tell you that SBI PO is the very popular exam. It is highly reputable job. Now come to the salary SBI bank PO salary of Rs, 42000-44000, while the IBPS PO salary is Rs. 38000-40000. It is one of the most dynamic jobs where a fresh recruited candidate will have to perform various tasks. From the following points, aspirants can check the roles and responsibilities of a bank PO.

To know more about the exam , kindly go through the given link:

https://competition.careers360.com/articles/bank-po-salary

I hope this will be helpful for you !


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