State Bank of India releases the PO Recruitment each year for the talented graduates to work as an administrator in one of the top performing financial organization. This year the also bank issued the advertisement which is named as “SBI PO Recruitment 2019“. The graduates who want to be part of the State Bank might be interested to know about the salary in hand after joining the top banking firm. I hope this article will fulfill their requirement in very few lines and tables.
SBI PO Salary
The SBI PO is placed in the Junior Management Grade Scale-I (JMGS-I) whose Pay Scale after the appointment is 23700-980/7-30560-1145/2-32850-1310/7-42020. They also get four advanced increments hence their initial basic pay will be 27,620.
Apart from basic pay they also get the dearness allowances and special allowances. The salary breakup of a newly appointed Probationary officer is shown here in the table.
|Post Name||Probationary Officer|
|Group||Group A/ Class-I|
|Starting Basic Pay||27,620|
|Salary||Rs 47,944/- Per Month|
So the candidates who get the opportunity to work in the largest government sector bank, they would get Rs 48,000 (Approximately) per month as a salary.
The newly recruited probationary officers will be on probation of two years and the bank will continuously assess their performance and after reviewing the same the SBI management may consider them for 1st promotion in the Middle Management Grade Scale-II (MMGS-II) just after two years of service.
Leased Rent Accommodations
This benefit is highest in SBI as compared the any other central, state, CPSE or Banking job. The following table shows the leased rent accommodation limit for the Probationary officers after the confirmation in the service.
|City Type/Name||Amount Limit (in Rs.)|
|Kolkata, Chennai, Ahmedabad, Bangalore, and Hyderabad||Rs 21,000/-|
|Type “A”||Rs 16,000/-|
|Type “B”||Rs 11,000/-|
|Type “C”||Rs 9,000/-|
Other Reimbursement Benefits
Apart from the above the SBI bank POs also get the reimbursement for the subscription of Newspaper & Magzine, Telephone & Broadband Connections and Mobile handset & calling charges. The ceiling for each of these component shown here.
|Name of reimbursement||Amount Limit (in Rs.)|
|Cost of Newspaper/ Magazine||Rs 800/- (Per Month)|
|Telephone & Broadband Connection||Rs 800/- (Per Month)|
|Call Charges Ceilings||Rs 600/- (Per Month)|
|Mobile Handset Purchase||Rs 7,000/- (in every 3 Years)|
- Provident Fund/ Pension Fund
- Furniture Allowances
- Personal Pay (If Applicable)
- Professional Qualification Pay
- Hill & Fuel Allowances
- Deputation Allowances
- Halting Allowances
- Special Area Allowances
- Project Area Allowances
- Mid-Academic Year Transfer Allowance
- Split Duty Allowance
- Compensation on Transfer
- Medical reimbursement
- Various loans at lower interest rates
- Leave Travel Concession
- Every Sunday
- Every 2nd & 4th Saturday of each Month
- Leave Calendar Every year SBI Management Publish a leave calendar or closed holidays list which contains around 20 or more holidays due to National & Regional Festivals.
- Paternity Leave (15 Days)
- Maternity Leave (Max 12 Months in entire service)
Source of Information: SBI Official Website