SBI Bank PO Salary 2023: In-hand Salary, Salary Structure

The SBI PO salary 2023 as per the revised structure range from INR 41960 to INR 63840 with 4 advanced increment. It is the most sought-after job in the largest nationalized bank in India, which offers financial security and social status. It is the primary reason numerous candidates seek recruitment for the post of SBI PO. The SBI PO salary 2023 discussed in this article will gain insights into the benefits of being a State Bank PO.

The SBI PO 7th pay commission has made several additions to the existing pay structure of the SBI bank PO's benefits, allowances, and the SBI PO salary in hand.

Table of Contents

• SBI PO Salary 2023
• SBI PO Salary Structure 2023
• SBI PO Salary Increment
• SBI PO Salary Structure Post 7th Pay Commission
• SBI PO Roles and Responsibilities
• SBI PO Promotion and Career Opportunities

SBI PO Salary 2023

The basic pay offered to SBI Probationary Officer is INR 41,960 with four increments. As per the revised Bipartite Settlement With four advance increments the compensation size of a Probationary Officer is 36000-1490/7-46430-1740/2-49910-1990/7-63840 which means the SBI PO will get a basic pay of INR 36,000 with an increment of INR 1490 for the next 7 years, followed by a basic of INR 46430 with an annual increment of INR 1740 for the next two years and so on.  The maximum basic SBI PO salary 2023 will be INR 63840. 

SBI PO Salary Structure 2023

As per the revised salary structure, the candidates can have an overview from the table below about the increased salary of the SBI PO 2023.

SBI careers are a great choice to obtain a secure future, and the SBI recruitment for SBI PO includes CCA, HRA and lease rentals and medical allowances. As per the guidelines of the SBI PO salary, the annual CTC is a minimum of INR 8.20 lakhs per annum and a maximum of INR 13.08 lakhs per annum. Various factors determine SBI PO salary 2023, allowances, and the complete package.

SBI PO Salary Increment

The pay scale below lists the take-home amount along with the increment and years in service as per the latest SBI PO salary 2023 structure.

SBI PO Salary Structure Post 7th Pay Commission

In September 2019, the 7th Pay commission came into effect to provide hikes to SBI PO officers. The SBI PO salary 2023 is set as per the norms defined by the 7th pay commission.

The hike includes various allowances and benefits besides the SBI PO salary 2023.

• SBI PO Salary 2023 Allowances
• SBI PO Additional Benefits

SBI PO Salary 2023 Allowances

The allowances as per the 7th Pay commission are listed as per the official notification.

Below are the SBI PO allowances and benefits.

1. Dearness Allowance (DA): DA is calculated based on the Consumer Price Index, and every quarter, there is a revision of the DA. DA is approximately 46% of basic pay and will go up or down based on inflation.
2. City Compensation Allowance (CCA): The range for CCA is 3-4% based on the leased house accommodation, HRA, and depends upon the city of residence of the SBI PO. It can vary from INR 8000 in rural areas to INR 29500 in metro cities.
3. Travel Allowance (TA): The SBI bank jobs, especially SBI PO, include travel allowance for official travelling purposes. There is also medical insurance for SBI jobs and 75% for the families of the employee.
4. Furniture Allowance: Besides the SBI PO Salary 2023, INR 1,20,000 is allotted for bank employees, along with low-interest rates on loans.

SBI PO Additional Benefits

Besides the SBI PO allowances mentioned above, the SBI PO salary comes with more benefits and perks.

Mentioned below are the SBI PO additional benefits.

• Medical Insurance (100% for the SBI PO)
• Books, magazines, and newspaper allowance
• Petrol allowance
• House maintenance and telephone bill reimbursement
• Entertainment allowance
• Concessions on loans.

SBI PO Roles and Responsibilities

The probationary period of the SBI PO officer is 2 years. During probation time, the candidate is expected to learn various aspects of banking, the responsibilities of the job, and some of the functions like supervising clerical activities, customer service, processing loans, and opening bank accounts. Retail banking and rural banking are also subjected the SBI PO must learn about.

Likewise, on-site training is part of the SBI PO profile and is a junior management Grade I. After completing the probationary period, the candidate will be screened, and if the candidate qualifies, they are promoted to a middle management officer in Grade Scale-II.

SBI PO Promotion and Career Opportunities

Understanding the career growth, benefits, and opportunities gives candidates an insight into the opportunities that come with the SBI PO Position.

The SBI PO career growth is listed below, and each position comes with a higher salary and better perks, benefits, and allowances.

• Probationary Officer
• Deputy Manager
• Manager
• Chief Manager
• Assistant General Manager
• Deputy General Manager
• General Manager
• Chief General Manager

Candidates are advised to take the SBI PO exam 2023 seriously and prepare in the best possible way. The exam will be more competitive than the previous years, and the question paper might be a little more complicated. Make sure to go through the SBI PO exam pattern and previous question papers to help answer the exam better.