SBI PO Salary 2024: The SBI PO Salary 2024 framework is meant to guarantee significant growth over time. The SBI PO 2024 pay scale starts at Rs 41,960 and rises gradually to Rs 63,840 with yearly increases. POs are first granted a yearly increment of Rs 1,490 for the first seven years, and then an increment of Rs 1,740 for the next two years. For those who want to become bankers, the SBI PO position is a good career choice because of its planned income progression, appealing benefits, and prospects for professional promotion.
Aside from security, attractive benefits, and allowances, one of the biggest draws for people to enter the banking industry is the SBI PO Salary 2024. An SBI probationary officer is initially paid a basic pay of Rs. 41,960 (with four advanced increments). A probationary officer’s remuneration is 36000-1490/7-46430-1740/2-49910-1990/7-63840 according to the updated Bipartite Settlement with four advance increments. Thus, for the following seven years, the PO will receive a basic salary of Rs. 36000 plus an annual increase of Rs. 1490. After that, the PO will receive a basic salary of Rs. 46430 plus an annual increase of Rs. 1740 for the next two years, and so on. The probationary officer at SBI Bank may receive a base pay of up to Rs. 63840.
The SBI PO salary is mentioned in the official notification of the SBI PO 2024. Here we are providing detailed information about SBI PO salary 2024 in tabular form.
| SBI PO Salary 2024 Overview | |
| Particular | Details |
| Conducting Body | State Bank Of India (SBI) |
| Exam Name | SBI PO 2024 |
| Exam Mode | Online |
| Post Name | Probationary Officer (PO) |
| Vacancy | To Be Notified |
| SBI PO In Hand Salary | 52000- Rs. 55000 |
| SBI PO Notification 2024 | To Be Notified |
| Selection Process | Prelims Mains Interview |
| SBI Official Website | www.sbi.co.in |
The SBI PO 2024 In-hand salary is Rs. 52000- Rs. 55000 per month the in-hand salary comes after subtracting the various components including tax, PF, NPS, professional tax, etc. All Probationary Officers have a different in-hand salary. The in-hand salary depends on the place of posting, allowances, deductions and traveling expenses.
| SBI PO In Hand Salary 2024 | |
| Post | Salary |
| Probationary Officers | 52000- Rs. 55000 |
SBI PO are appointed as Junior Management Grade Scale-I officers in the bank. They undergo a probation period of two years during which they are trained and assigned various roles and responsibilities across different departments and branches of the bank.
| SBI PO Salary 2024 Roles and Responsibility | |
| Roles and Responsibility | Customer service |
| Business development | |
| Operations management | |
| Credit management | |
| Risk management | |
The SBI PO salary of the candidates who are selected for Probationary Officer positions ranges from Rs 52000 to Rs 54000. SBI PO posts offer many benefits, including attractive salaries, allowances, medical facilities, house allowances, traveling expenses, and much more, which we will explain here.
| SBI PO Gross Salary 2024 | |
| Parameters | Amount (INR) |
| Basic Pay | Rs. 41,960 |
| DA | Rs. 12,701 |
| Special Allowance | Rs. 6,881 |
| HRA | Rs. 2,937 |
| Location Allowance | Rs. 700 |
| Learning Allowance | Rs. 600 |
| Gross Salary | Rs. 65,780 |
State Bank of India also includes other deductions in SBI PO salary, which include PF contribution, Income Tax, Professional Tax and contribution to Contributory Pension Fund. The total amount of deductions is given in the table below.
| SBI PO Salary Deduction | |
| Particulars | Amount |
| PF Contribution | Rs. 4,196/- |
| Income Tax | Rs. 3,290/- |
| Professional Tax | Rs. 200/- |
| Contributory Pension Fund | Rs. 5,274 |
| Total Deductions | Rs. 12,960 |
Examine the subsequent table to gain additional insight into the annual increase and base pay by year:
| Period | Increment | Basic Salary |
| First 7 years | Rs. 1490 | Rs. 36,000 |
| Next 2 years | Rs. 1740 | Rs. 46,430 |
| Another 7 years | Rs. 1990 | Rs. 63,840 |
As per the norms, the State Bank Of India provides multiple allowances including Dearness allowance, City Compensatory, house rent allowances, furniture allowances and more for Probationary Officer (PO0 posts. Candidates can check details knowledge for SBI PO Salary 2024 allowances in the table below.
| SBI PO Salary 2024 Allowances | |
| Allowance | Amount |
| Dearness Allowance | 26% of the Basic Pay |
| City Compensatory Allowance | 3% – 4% depending on location |
| House Rent Allowance | 7% – 9% depending on Place of Posting |
| Furniture Allowance | Rs. 1,20,000 |
| Medical Insurance | 100% covered for employee | 75% covered for dependent family |
| Travelling Allowance | AC 2-tier fare is reimbursed to the employee for official travels |
| Petrol Allowance | Rs. 1,100 – 1,250 |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. | Varies based on Cadre |
SBI POs have a bright career growth path in the bank. They can get promoted to higher scales and positions based on their performance, experience, and qualifications. The hierarchy of SBI POs is as follows:
An SBI PO should anticipate receiving a monthly salary of about Rs. 60,270 after five years of service, assuming regular increments. Based on years of service, the pay increases yearly. The annual CTC increases along with the passing of time.
| SBI PO Salary After 5 Years | ||
| Time | Increment | Basic Salary |
| First 7 years | Rs. 1490 | Rs. 36,000 |
| Next 2 Years | Rs. 1740 | Rs. 46,430 |
| Another 7 Years | Rs. 1990 | Rs. 63,840 |
The SBI PO 2024 Grade Pay level determines various things like designation and experience. Candidates check the details knowledge for SBI PO Grade pay in the table below.
| Designation | Grade Pay Level |
| Probationary Officer | Scale I |
| Deputy Manager | Scale II |
| Manager | Scale III |
| Senior Manager | Scale IV |
| Chief Manager | Scale V |
| Assistant General Manager | Scale VI |
| Deputy General Manager | Scale VII |
| General Manager | Scale VIII |
| Chief General Manager | Scale IX |
| Deputy Managing Director | Scale X |
| Managing Director | Scale XI |
| SBI PO Exam Pattern 2024 | SBI PO Previous Year Question Paper |
| SBI PO Syllabus 2024 | SBI PO Cut Off 2024 |
| SBI PO Preparation Strategy 2024 | SBI PO Study Plan 2024 |
The SBI PO 2024 In hand salary after 5 years will be approximately Rs. 64815.27.
The SBI PO in hand salary is 52000- Rs. 55000 which includes many allowances and benefits.
The SBI PO pay scale is 41,960/- (with 4 advance increments) on the scale of 36000-1490/7- 46430-1740/2-49910-1990/7-63840 applicable to Junior Management Grade Scale-I.
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