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SBI PO Salary 2021 Structure - Complete Details

SBI is the largest public sector bank in India and accordingly provides a great compensation package for the Probationary Officers (PO). In this section, we will look at the SBI PO salary structure, in-hand salary, benefits and allowances applicable to the SBI PO.

SBI PO Salary 2021

The in-hand salary of a Probationary Officer in SBI is one of the most frequently questioned questions among aspirants. According to the official notification of 2021, the starting basic pay of SBI PO is Rs. 41,960/- (with 4 advance increments) on the scale of Rs. 41960-980 (7) – 48820 – 1145 (2) – 51110 – 1310 (7) – 60280 applicable to Junior Management Grade Scale-I. This revised salary and increment structure are as per the Bipartite Settlement. SBI PO Salary in terms of CTC will be ₹8.20₹13.08 LPA depending on the place of posting and other factors.

Salary ComponentsAmount
Basic Pay41,960
DA (26%)12,701
HRA2937
Location Allowance 700
Learning Allowance600
Special Allowance6,881
Gross Salary65,780

Deductions

ComponentsAmount
PF Contribution4196
Income Tax3290
Professional Tax200
Contributory Pension Fund 5,274
Total Deductions12,960
Net Salary52,820

Go through the following table to know more about the year-wise basic pay along with the annual increment:

PeriodSBI PO Basic SalaryIncrement
For the first 7 yearsINR 41,960/-980
For the next 2 yearsINR 48,820/-1145
Another 7 yearsINR 51,110/-1310

For instance, SBI PO Salary in Assam will be lesser than that of the SBI PO Salary in Mumbai due to the standard of living and other factors.

SBI PO Salary (In-hand)

SBI PO take-home salary or the SBI PO Salary in-hand generally ranges from 52,820 to 53,000 per month.

The salary of a PO in SBI has annual increments. Wondering what will be your salary after 5 years of working with SBI? Well, if you perform exceptionally, you might get promoted to Scale-II officer.

Nevertheless, if you are in Scale-I, your salary will be around 65,000 to 66,000. People get an increment of 980/- annually on basic pay with an additional allowance of 10,000/- to 15,000/-.

SBI PO – Benefits and Allowances

Apart from salary, SBI PO enjoys some other perks and benefits which are as follows:

  1. Contribution Pension Scheme/New Pension Scheme
  2. Medical Aid for self (100%) and for family (75%)
  3. LTC
  4. Home Travel Concession/ Leave Fare Concession
  5. Concessional interest rates for Housing/Car/Personal Loans
BenefitsDetails
Dearness Allowance (DA)26% of the Basic Pay
City Compensatory Allowance (CCA)3 to 4 % of the Basic Pay.
Leased House Accommodation/House Rent Allowance (HRA)Varies based on the job location. It can range from Rs 8000 (in rural areas) to Rs 29,500 (in a metro city like Mumbai).
Travel Allowance (TA)AC 2-tier fare is reimbursed to the employee for official travels only
Medical InsuranceSBI provides 75% insurance for families and 100% for the employee.
Furniture AllowanceRs. 1,20,000 for the purchase of furniture.
Loan BenefitsEmployees get a discount/ low interests rates on loans.
PetrolRs. 1100 – Rs. 1250
Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.Varies based on the cadre

Find the Right Plan

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SBI PO Mains

₹ 499

  • Validity: Jan 31, 2022
  • 10 Tests for SBI PO Mains.

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FAQs

What is the full form of the SBI PO exam?

SBI PO is an acronym for State Bank of India Probationary Officer. SBI PO test is held once a year for the recruitment of Probationary Officers by the State Bank of India. This is the most renowned exam in the banking area.

How many times is the SBI PO exam held each year? +

The SBI PO Exam is held once a year.

Is the SBI PO a government position? +

Yes, SBI PO is a government job.

What is the SBI PO salary? +

SBI PO basic base pay is Rs. 27,620/-, with four advance increments on the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020.

What is the age limit for the SBI PO exam? +

The age limit for SBI PO Exam is 21 years to 30 years.

Is it possible for final-year students to apply for SBI PO? +

Yes, candidates in their last year are eligible to apply. If they are summoned for an interview, they must provide proof of their date of passing out.

Is there a cut-off for each area in the SBI PO Prelims? +

In the SBI PO preliminary examination, there is no sectional cut-off.

What is the application fee for the SBI PO exam 2021? +

The application fee for SC/ST/PWD category students is NIL, whereas the application fee for general and other category students is Rs. 750.

How many attempts are there in the SBI PO exam? +

The general candidate can apply only 4 times, while an OBC can apply 7 times. Moreover, SC/ST does not have any restrictions.

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