SBI PO Salary 2023: Basic Pay, In hand salary, Allowances, Probation

SBI PO Salary 2023: The State Bank of India conducts the SBI PO 2023 exam to select eligible aspirants for the Probationary Officer (PO) exam in various branches of SBI. Aspirants must check th the official notification to know about the SBI PO 2023 salary and job profile before applying for the post. The candidates will be selected based on the marks obtained in prelims, mains, and interview round.

The starting basic SBI PO salary is Rs 41,960 (with 4 advanced increments). As per the revised Bipartite settlement with four advance increments, the SBI PO pay scale is 36000-1490/7-46430-1740/2-49910-1990/7-63840. Along with the SBI Probationary Officer salary, they will also receive various allowances such as dearness allowances, house rent allowances, etc.

In this article, we have shared detailed information on SBI PO salary, including in-hand salary, perks & allowances, promotion, and career growth opportunities.

SBI PO Salary 2023: Overview

Have a look at the key highlights of the SBI PO Salary 2023 shared tabulated below:

SBI PO Salary 2023 Annual Package: 8 Lakh

The annual package for candidates selected for the SBI Probationary officer post will range between Rs 7 lakh to Rs 9 lakh per annum approximately. The annual package for the SBI PO post is decided as per the revised Bipartite settlement. It comprises pay scale, grade pay, gross compensation, net salary, deductions, and allowances. The starting-in-hand salary for SBI PO posts will be approximately Rs 53,000 to Rs 55,000, with a basic salary of Rs 41,960.

SBI PO Salary Structure 2023

SBI Probationary Officer salary is a lucrative factor to all banking aspirants, which is the major reason every more than lakhs of aspirants apply for this exam every year. The SBI PO salary structure includes various factors like grade pay, pay scale, in-hand salary, gross salary, net salary, allowances, deductions, etc., based on the revised guidelines as tabulated below:

In Hand SBI PO Salary 2023: Rs 53000

Aspirants appointed as SBI Probationary Officers will receive a starting salary of Rs 41,960 with four advanced increments. Moreover, the pay scale of the SBI PO post is 36000-1490/7-46430-1740/2-49910-1990/7-63840 as per the latest bipartite settlement with four advance increments. In brief, it is implied that the initial basic pay of SBI PO is Rs 36000 with an annual increment of Rs 1490 for the next 7 years. 

Upon completing the seven years, the basic pay will be Rs 46430 with an increment of Rs 1740 for the next two years. The maximum basic SBI PO salary goes upto Rs 63840.  The SBI PO in hand salary also includes various allowances like DA, Lease Rental/ HRA, CCA, Medical allowances, etc. The SBI PO monthly salary amount depends on the location of the job posting.

SBI PO Salary 2023: Deduction

There shall be monthly deductions of various factors from gross salary to arrive at the SBI PO in hand salary. In brief, the gross salary of SBI PO is Rs 65,780 and the SBI PO monthly salary is Rs 52,820. Have a look at the SBI SO Salary deduction tabulated below.

SBI PO Salary 2023: Increment

There shall be an increment in the SBI PO in hand salary every year for the specific period. Mentioned below is the detailed SBI PO Salary increment cycle for the ease of the aspirants.

SBI PO Salary 2023: Allowances

Along with the basic SBI PO salary, every probationary officer can enjoy various allowances as admissible for the post. The list of allowances included in the SBI PO salary structure is as follows.

SBI Probationary Officer Benefits & Perks

Along with an attractive SBI PO salary and basic allowances, the probationary officer will receive various perks and benefits, as elaborated below.

• Contribution Pension Scheme/New Pension Scheme.
• Home Travel Concession/ Leave Fare Concession.
• LTC.
• Concessional interest rates for Housing/Car/Personal Loans.
• Medical Aid for self (100%) and for family (75%).

SBI PO Job Profile 2023

Candidates selected for the SBI Probationary Officer post will be entrusted with various duties and responsibilities after joining the post. The SBI PO Job Profile includes the following roles and responsibilities.

• Perform managerial tasks like supervision of clerical duties, making informed decisions for bank development, etc.
• As SBI PO, they are required to deal with customer issues and solve problems daily.
• Cross-check all the tasks performed by the clerks.
• The job responsibility of SBI PO includes issuing ATM cards, chequebooks, demand drafts, etc, and performing all the tasks assigned by their seniors.

SBI PO Promotion and Career Growth

The aspirants appointed as SBI Probationary Officers will undergo probation for a period of 2 years. All the selected candidates must sign a bond of Rs 2 lakhs to serve the bank for at least three years. Upon completing the probation period successfully, the selected candidates will be confirmed in the bank as Junior Manager Grade Scale (JMGS-I).

Moreover, they will also get the chance to participate in the promotion exam, which is conducted annually by SBI. Candidates who will clear the promotion exam will be promoted to higher posts with a better SBI PO annual salary structure. The promotion hierarchy of the SBI Probationary Officer post will be as follow.

• Assistant Manager
• Deputy Manager
• Manager
• Chief Manager
• Assistant General Manager
• Deputy General Manager
• General Manager
• Chief General Manager
• Deputy Managing Director
• Managing Director
• Chairman