April 27, 2013

What is the Salary of SBI PO?


Salary Structure of State Bank of India Probationary Officer - PO : 

Here, we have been sharing cost to company-CTC salary structure of SBI PO. Among all Public Sector Banks, SBI has been paying highest salary to the joining Probationary officer: 

The starting basic pay is Rs 16,900/- (with 4 increment) Pay scale of Rs 14500-600/7-18700-700/ 2-20100-800/7-25700 

The compensation per annum at Mumbai is Rs.8,00,000/- plus. The break-up of monthly compensation is as under: 

Also Read :What will be the Salary of Newly Joined Bank Officer (PO) from June 2015? 

Cash Component
Rs. 36,046/-
Bank’s contribution to PF & Pension Scheme
 Rs. 1,690/-
Housing (Lease Rental)
Rs. 29,500/-
Perquisites (Conveyance, Newspapers, Entertainment
allowance, House & Furniture Maintenance etc.
 Rs. 4,130/-

In addition, the Officers are also entitled to other benefits like:

(i) Medical Aid for self (100%) and for family (75%)
(ii) Home Travel Concession/Leave Fare Concession
(iii) Concessional Interest Rates for Housing/Car/Personal Loans

Note:The salary scales are under revision with effect from November 2012. It means, bank will pay higher salary than the present above mentioned salary. Bankers have been waiting the salary revision and hope it would be approved by next year. The pending hike in salary will be paid as arrears since Nov. 2012.