India is a country which has the majority of the population as youth. The young, driven and compassionate youth who work very hard to make their dreams come true. One such dream of many of the Indian youth is to clear the Bank PO exam. Every year lakhs of candidates appear for Bank PO examination but only a handful of students crack the exam. Throughout the year various of banks conducts the Bank PO exam and among them, one such in-demand job is of Bank PO for SBI. It is one of the most prestigious jobs in India.
The State Bank of India is the largest commercial bank in India which has a huge workforce and guarantees a highly stable future for its employees. SBI is not just a name but more of a brand that provides all the necessities and luxuries of life. There is very high competition among the students to get qualified for the SBI PO and the reason is all the benefits and the lavish salary that one gets to avail by being a Probationary Officer in SBI.
SBI PO Salary
SBI PO salary is one of those many reasons because of which every aspirant for government exams runs after it. the starting pay for SBI PO is INR 27,620 with 4 advance increments in the salary. The pay scale ranges between INR 23700-980/7- 30560-1145/2-32850-1310/7-42020. These were the basic monthly pays that an SBI PO receives apart from perks and incentives.
Talking about the annual package of SBI PO it ranges between a package of INR 8.20 lacs to INR 13.08 Lacs. The kind of package that you get depends on various factors such as place of your posting etc.
Apart from the amazing salary, there are many other perks of being SBI PO. It provides a number of benefits to a person and therefore, the exam for SBI PO is one of the most wanted exams and students spend their life to prepare for it. The name “SBI PO” not only gives you financial stability and highly secure career but also provides ample growth opportunities for you. starting from a PO a person can further qualify to become Deputy Manager, the Manager, then chief Manager and then likewise expanding in the horizon a person can go up to the level of a Chief General Manager. All this not only guarantees a good life but also a reputed social status in the society. People think highly of you and are respectful towards you. You will have an aura of honor and pride around you.
A detailed Salary structure of SBI PO
Apart from the basic pay of SBI PO that has already been discussed above, there are many other benefits and perks that an SBI PO receives. The salary of SBI PO will include the below-mentioned allowances that they receive as long as they are in the service.
Dearness Allowance (DA): The DA is allowance money that an SBI PO receives and it is 46 percent of the basic pay. It can increase or decrease accordingly as per inflation. It is based on the Consumer Price Index (CPI) and is revised every quarter.
City Compensatory Allowance (CCA): The CCA is totally based on the kind of city you have been posted to. It ranges as per the city and can range between 3 to 4 percent of your basic pay.
House Rent Allowance: It is yet another type of allowance that you get for your house rent and can vary from INR 8000 to INR 29500 as per the city to which you are posted.
Travel Allowance (TA): Your all the official travels comes under TA and you don’t have to pay anything from your pocket.
Furniture Allowance: You will be glad to know that SBI offers furniture allowance of up to INR 12000 for its Probationary Officer.
All the above-mentioned benefits are not enough, SBI PO has a lot more to avail. Below are all the benefits that make a life of an SBI PO easy and smooth. Some of them are discussed here:
- Medical insurance which is 100 percent for SBI PO and 75 percent for family members.
- An SBI PO gets an allowance for newspapers, Books and Magazines
- If living at a distance from the workplace, a PO receives Petrol allowance
- House maintenance allowance
- Telephone bill reimbursement
- Entertainment allowance
Now you must have known why there is so much of hustle to become an SBI PO.