The salary for SBI PO is quite attractive, especially for those looking to join State Bank of India in the Probationary Officer role.
It starts at Rs. 41,960 with 4 advance increments, and after deductions, the net salary is around Rs. 52,820 per month for newly recruited POs.
Besides the salary, there are also perks and allowances to consider.
In this article you will get to know about the salary structure, job profile, allowances, probationary period, career growth,
and the SBI PO salary after 5years.
IBPS PO/MT Salary Structure
Candidates have seen the annual salary package that will be offered to them once selected
for the post. The salary differs for employees based on the city they are located in.
The revised basic IBPS PO salary structure will be as follows:
Basic Pay |
₹ 41,960/- |
Dearness Allowance |
₹ 12,701/- |
Special Allowance |
₹ 6,881/- |
Location Allowance |
₹ 700/- |
Learning Allowance |
₹ 600/- |
House Rent Allowance(HRA) |
₹ 2,937/- |
Gross Pay |
₹ 65,780/- |
Deduction (PF/Income Tax/ Professional Tax/ Pension) |
₹ 12,960/- |
Net Pay |
₹ 52,820/- |
IBPS PO Salary after the 11th Bipartite Agreement
From the Gross Salary of SBI PO i.e. INR. 65,780, the following monthly deductions will be done after which the officers get the in-hand SBI PO Bank salary of Rs. 52,820. Check the SBI PO Salary Deduction as detailed below.
SBI PO Salary Deduction |
PF Contribution |
₹ 4,196/- |
Income Tax |
₹ 3,290/- |
Professional Tax |
₹ 200/- |
Contributory Pension Fund |
₹ 5,274/- |
Total Deduction |
₹ 12,960/- |
SBI PO Allowances
The SBI PO Salary consists of a basic salary along with various allowances, which boost the employee’s take-home pay. Below is a table showing the allowances included in the SBI PO Salary.
IBPS PO Salary structure in India |
Dearness Allowance |
26% of the Basic Pay
|
City Compensatory Allowance |
3% – 4% depending on location |
House Rent Allowances |
7% – 9% depending on Place of Posting |
Furniture Allowance |
Rs. 1,20,000 |
Medical Insurance |
100% covered for employees 75% covered for dependent family |
Traveling Allowance |
AC 2-tier fare reimbursed for official travels |
Petrol Allowance |
Rs. 1,100 – 1,250 |
Other Allowances |
Varies based on Cadre |