The SBI PO Salary is available on the official notification of SBI PO 2020. The Probationary Officer offers an attractive salary package to the candidates who are selected in the examination. The selection process of the SBI PO is based on 3 stages which are preliminary, Mains, and Interview. Keep scrolling to get further information about SBI PO Salary and Job profile.
SBI PO Salary
Table of Contents
The state bank of India will release the SBI PO notification on the official website soon. The notification will be released in the coming months post-July. The notice will be released for the post of Probationary officers for around 2200 under different categories. The SBI PO pays a handsome SBI PO salary to the students selected as SBI PO. The notification reads that the net CTC of an SBI PO stands at 12 lakhs which is every huge as compared to its counterparts.
Summary of SBI PO Salary
|Recruiting Organisation||State Bank of India|
|Notified Post||SBI PO/ State Bank of India Probationary Officer|
|SBI PO Notification Date||August 2020(Tentative)|
|Registration Date||Mid August – September 2020|
|Preliminary Exam date for SBI PO||Will be notified soon|
|Mains Exam date for SBI PO||Will be notified soon|
|Interview dates for SBI PO||Post completion of the Mains exam|
|Final allotment||December 2020/ January 2021|
|Total vacancies||2,000+ (Tentative)|
|Qualification||The candidate needs to have completed his graduation/post-graduation from a recognised state/private board.|
|Selection process||Preliminary Exam|
Group discussion and Personal Interview
|SBI PO Admit Card Link||Available soon|
|Result Link for Preliminary Exam||Available soon|
|Official notification||Available soon|
|Official Website||Click here|
SBI PO Emoluments
The basic pay of an SBI PO is Rs 27620, the candidate is given four advance increments in the compensation size of 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. A Probationary Officer is liable to get a basic pay of Rs 23700 with an increment of Rs 980 for the next 7 years, followed by a basic of Rs 30560 with an annual increment of Rs 1145 for the next two years and so on. The maximum basic pay for an SBI PO can be Rs 42020. The perks and allowances apart from the basic pay that adds up to become the SBI PO Salary component are as follows:
|Summary||SBI PO Salary Details|
|Dearness Allowance||46.9% of the Basic Pay|
|City Compensatory Allowance||3% – 4% depending on location|
|House Rent Allowance||7% – 9% depending on Place of Posting|
|Furniture Allowance||INR 1,20,000|
|Medical Insurance||100% covered for employee while the dependent family gets 75% covered.|
|Travelling Allowance||AC 2-tier fare is reimbursed to the employee for official travels|
|Petrol Allowance||INR 1,100 – 1,250|
|Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.||Depends on the cadre and the city of posting|
The total SBI PO Salary per annum on CTC basis will be a minimum of 8.20 lakhs and a maximum of 13.08 lakhs. The total in-hand salary of an SBI PO is Rs 45,000 to Rs 50,000 after all the deductions.
SBI PO Job-profile
- The SBI PO is subjected to completion of the probation period, which is for 2 years, during which he has to perform any kind of bank-related activity; it can be the clerk or assistant type of job.
- Post successful completion of the probation period, the PO is posted in any bank branch as an Assistant Bank Manager to handle works on daily customer transactions, viz. passing a cheque, draft issuance, cash management etc.
- He has to maintain the various documents of the bank, balance sheets, ledger, etc.
- He has to Resolve the various issues of the customers.
- Issuing of Demand Drafts (DDs), bank accounts for the customers, cash receipts, etc
- To Provide information about the latest schemes and government policies
- He has to Provide guidance to customers relating to various banking activities
- The candidate has to Attend to treasury works.
- An SBI PO takes care of the loan related documents and performs on-site visit of the loan taking parties.
Growth Hierarchy of SBI PO
An SBI PO is the lowest level in the Officer Cadre of the banking management, there are departmental promotions with which a candidate can secure high positions post joining as a Probationary Officer. The growth hierarchy of an SBI PO post joining is as follows:
- JMGS Scale 1
- Manager, Scale 2
- Senior Manager
- Chief Manager
- Assistant General Manager
- Zonal Manager
SBI Probationary Officer Promotion
The SBI PO job offers a wide range of growth prospects to the students selected as SBI PO within the State Bank of India. The students who get selected as State Bank of India PO have two options for promotions which is:
- Age-based Promotions– This kind of promotion is given to the candidate based on his age or seniority level in the bank. If a State Bank of India PO does not opt for fast-track promotion, then he receives only yearly increments in his SBI PO Salary like any other staff. A candidate has to complete 5 years in the banking services to seek age-based promotion.
- Fast-Track Promotions– The fast track promotions is the fastest way to get promoted from the JMGS Scale 1 level to the higher or officer level. In this method, the students have to clear the CAIIB exam. This exam offers the benefit of increment in the SBI PO Salary and merit-based points that can be used while seeking promotions. The PO becomes eligible for promotion after 2 years of completing his Probation period and service in the bank.
For further more information details about SBI PO Salary and Job Profile, read the official notification carefully, link is given above. If you have any queries, feel free to share with us through the comment section. Thanks!