SBI PO Salary Allowances & Benefits Structure

State Bank of India being the biggest & reputed bank in India is providing livelihood for many aspirants who dream & pursue their passion towards banking career. Here, we are going to discuss about the Salary Allowances and Benefits for the employees who clear SBI PO 2018 exam. Before starting the discussion about Salary structure we would like to share the information that the salary will be differing from place to place. However, the basic components remain the same, but allowances are different for various cities. Have a glance at ‘em for yourself, you’ll understand what we are talking about.

A. Pay Scale Structure for SBI PO

1. Presently the starting basic pay is: Rs 27,620/- (with 4 advance increments)

2. Pay Scale which is applicable for Junior Management Grade Scale-I: Rs 23700-980/7-30560-1145/2-32850-1310/7-42020

3. The total compensation per annum on CTC basis be a minimum of 8.20 lacs and maximum of 13.08 lacs depending on place of posting and other factors.

4. Salary for city like Mumbai could earn over Rs 1 lakh a month.

B. SBI PO Salary Allowances

Dearness Allowance (DA):

This Allowance is modified on a quarterly premise in the times of February, May, August, and November. It depends on the Consumer Price Index (CPI) as proclaimed by Government of India.

2. When inflation is high, DA goes up and when inflation falls, DA goes down. At the moment it is over 100% of the Basic Pay.

Leave Structure:

SBI provides a number of leaves to its employees such as casual leaves, privilege leaves, medical leaves, extraordinary leaves, etc. The bank gives 12 casual leaves, 30 privilege leaves and 15 full-day medical leaves throughout the year. Apart from this, the bank also offers a 6-month sabbatical for maternity leave to its women employees.

Medical Benefits:

SBI deals with the wellbeing and prosperity of its representatives and their families by dealing with the medicinal costs of its workers. Health advantages (100% for the worker and 75% for dependent family members) shape a key part of the general bundle.

House Rent Allowance:

This is another component of your gross salary and this is also calculated as a percentage of your basic salary. This allowance depends on the city of your posting. The maximum you can get is 10% of your basic for metro cities or Tier I cities and the minimum is 7.5% of basic salary for rural areas.

Travel Allowance:

The employees get leave travel concession to visit places within India. Holiday homes and Bank’s guest houses are available for the employees at cities and tourist destinations.

Miscellaneous Benefits:

It provides various monthly perks such as petrol allowance, newspaper allowance, entertainment allowance, house maintenance allowance, etc. It comes to a total of Rs 5000 approximately in your cadre.

To read the Official Notification click the link given below:
SBI PO Salary Allowances & Benefits

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