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SBI PO Salary 2024 - Pay Scale, Job Profile, In hand Salary, Allowances
Edited By Meghana Mohana Krishnan | Updated on Jul 22, 2024 11:59 AM IST | #SBI PO
State Bank of India mentiones the details about the SBI PO 2024 salary in the official notification. According to the SBI PO salary in hand, the employees will get in hand salary of Rs. 41,960. Along with the in hand salary 2024, 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.
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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 2024 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 2024.
SBI PO salary 2024 - 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 2024 - Increment
From the following table, candidates can know the starting in-hand salary of SBI PO 2024. This starting salary may vary according to various factors like the area of posting, seniority, post etc.
SBI PO 2024 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 |
Quick links:
SBI PO Pay Scale 2024
From the following table, candidates can also check the SBI PO year-wise basic pay and annual increment:
| SBI PO year-wise Increment | ||
| Period | Increment | Basic Salary |
| First 7 years | Rs. 1,490 | Rs. 36,000 |
| Next 2 years | Rs. 1,740 | Rs. 46,430 |
| Another 7 years | Rs. 1,990 | Rs. 49,910 |
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Subscribe NowSBI PO Salary 2024 - 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 2024 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 2024 - 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 2024 - 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
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SBI PO 2024 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 2024 - Deduction
There is a monthly deduction from the gross SBI PO salary 2024. Check the table that is given below to know more about the deductions in the Bank SBI PO salary.
| SBI PO Salary Deduction | |
| Particulars | Amount |
| PF Contribution | Rs. 4,196 |
| Income Tax | Rs. 3,290 |
| Professional Tax | Rs. 200 |
| Contributory Pension Fund | Rs. 5,274 |
| Total Deductions | Rs. 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.
Frequently Asked Question (FAQs)
1. What is in hand salary of SBI PO?
The starting in-hand salary of SBI PO 2024 is Rs. 36,000 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 2024 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. 50,000 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 2024?
Candidates can apply for SBI PO 2024 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 2024 of a Probationary Officer in SBI is Rs. 36,000.
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5 min ⋆ Jul 05, 2024 12:07 PM ISTQuestions related to SBI PO
Have a question related to SBI PO ?
A Master's degree is not mandatory to become an SBI PO or get promoted to a bank manager role. However, it can enhance your profile and potentially give you an edge in the competitive selection process.
An MBA can be a good choice as it equips you with valuable skills in finance, management, marketing, and communication - all of which are crucial for a banking career
Consider specializing in Finance, Banking, or Risk Management within your MBA program. These specializations will directly align with the SBI PO role and career progression in banking.
A Master's in Commerce with a specialization in Banking and Finance can provide a strong foundation in banking principles and practices. While not as directly focused on banking, a Master's in Economics can equip you with analytical skills and an understanding of economic trends, which are valuable assets in the financial sector.
Several banking-related certifications like Certified Financial Analyst (CFA) or Certified Risk Management (PRM) can enhance your profile without the time commitment of a Master's program. Focused coaching programs or online resources can equip you with the specific knowledge and skills required to crack the SBI PO exam.
Ultimately, the decision of pursuing a Master's degree depends on your individual circumstances, goals, and resources. While an MBA or other relevant Master's can be beneficial, it's not essential for success in the SBI PO exam or career advancement in banking.
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I hope it helps!
Nitin Kumar 08 June,2024
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 ;-
Hope it helps you
Shivanshu 27 January,2024
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:
Thank you
Hope it helps you.
shivamtrivedi0005 28 October,2023
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.
Sajal Trivedi 14 October,2023
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
shivamtrivedi0005 21 September,2023
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