SBI PO Salary 2021, Revised In-hand Salary, Perks, Job Profile

SBI PO Salary 2021: The State Bank of India will soon announce an official notice regarding the hiring of trial officers. It is the SBI PO salaries, benefits, allowances, and salaries that motivate applicants to prepare for SBI PO. Therefore, this article provides candidates with all the details about SBIPO’s salary system and other benefits that they receive when they are selected for SBIPO’s post after completing pre-, main, and interviews.

SBI PO Salary 2021 Overview

Since SBI is one of the top nationalized banks, the State Bank of India Probation Officer (PO) is considered the most demanding and authoritative government job in India. When the candidate is appointed as PO by SBI, he/she will start receiving Rs.41,960 as a base salary (4 prepayments). SBI PO’s payroll system follows the range 36000-1490 / 7-46430-1740 / 2-49910-1990 / 7-63840. This article details SBI PO payroll, on-hand payroll, benefits, and job profiles.

Basic PayRs. 41,960
Special AllowanceRs. 6,881
DARs. 12,701
Location AllowanceRs. 700
Learning AllowanceRs. 600
HRARs. 2,937
Gross SalaryRs. 65,780
Deduction (PF/Income Tax/Professional Tax/Pension)Rs. 12,960
Net SalaryRs. 52,820

SBI PO Deductions

There are various benefits that are given to SBI POs in terms of deductions that can be claimed by them while filling their ITR and calculating tax liabilities. The table below has got all the claimable deductions in the SBI PO Salary structure 2021.

ParticularsAmount
PF ContributionRs. 4,196/-
Income TaxRs. 3,290/-
Professional TaxRs. 200/-
Contributory Pension FundRs. 5,274
Total DeductionsRs. 12,960

SBI PO Salary In Hand 2021

The on-hand salary of SBI PO2021 fluctuates from Rs. 52,000 to 55,000 per month. This amount may vary depending on the location of the post. Banks follow two-part payments, so the seventh pay commission does not apply to the amount. Still, salaries on hand are attractive enough for applicants, and therefore a great demand for such banking jobs remains.

SBI PO Salary Increment

SBI PO salaries and cash on hand may increase each year. All SBIPOs are given a fixed amount of increments based on the duration of service provided. The following table shows SBIPO’s annual salary increments and final salary.

SBI PO Increment 
PeriodIncrementBasic Salary
First 7 yearsRs. 1490/-Rs. 36,000/-
Next 2 yearsRs. 1740/-Rs. 46,430/-
Another 7 yearsRs. 1990/-Rs. 63,840/-

SBI PO Allowances, Perks

Allowances that come with SBI PO Salary are tabulated below:

AllowanceAmount
Dearness Allowance26% of the Basic Pay
City Compensatory Allowance3% – 4% depending on location
House Rent Allowance7% – 9% depending on Place of Posting
Furniture AllowanceRs. 1,20,000
Medical Insurance100% covered for employee | 75% covered for dependent family
Travelling AllowanceAC 2-tier fare is reimbursed to the employee for official travels
Petrol AllowanceRs. 1,100 – 1,250
Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.Varies based on Cadre

SBI PO 2021 Promotion

SBI POs get promotions really quick along with the increase in the salary as per the Bank norms. The promoted posts include:

  • 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 Perks

Being a Bank job, SBI PO Perks include the benefit of having a settled career, job security, fixed allowances and increments. This job is thus an attractive one to a huge number of candidates.

The additional benefits of the salary include:

  • Medical insurance (100 per cent self and 75 per cent for family members)
  • Cashless treatment in selected medical facilities around the country
  • Newspaper allowance
  • Books and magazines allowance
  • Petrol allowance
  • House maintenance allowance
  • Telephone bill reimbursement
  • Entertainment allowance
  • Concessionary interest rates for House Loan, Car Loan, and Personal Loan
  • New pension scheme contribution
  • Leave Travel Concessions (LTC)

SBI PO Job Profile

  1. Supervision of clerical activities, customer service, processing loans, opening bank accounts, etc.
  2. Marketing of New Schemes
  3. Bringing New Business to the bank
  4. Any other task bestowed by the bank from time to time.
  5. On-site training, such as at SBI training institutes.

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