Learn about new salaries, allowances and other facilities of SBI PO

SBI PO is one of the most prestigious jobs in the banking sector. The SBI PO examination is likely to be held in the month of July 2019, all of you must have started preparing for the exam. Apart from job security and social status, SBI PO offers you many opportunities to grow in your career. But, without salary and package, we can not analyze any job. Although the name of the bank and the brand itself declares that the salary package provided by the bank will be very good and it is something that is always encouraging for every candidate to prepare for the SBI PO examination with full efforts. Here we will discuss the salary and various allowances provided by the State Bank of India to the Probationary Officers.

Basic pay allowances

The basic salary of entry level at SBI is the highest in comparison to other nationalized banks. Starting basic salary of 27620 rupees with four advance increments in the pay scale (pay scale) of SBI PO in 23700-980 (7) - 30560 - 1145 (2) - 32850 - 1310 (7) -42020. SBI provides the best salary package to the entry level employees after the Reserve Bank of India (RBI) and the National Agricultural and Rural Development Bank (NABARD) in the banking industry.

Total CTC

 The CTC (Cost to Company, CTC) provided by the bank to its officials, automatically explains why you should join the SBI. Based on the location of the posting and other factors, the bank provides a minimum package of 8.20 lakh and a maximum package package of 13.08 lakh. Therefore, if you are posted in a city like Mumbai, your one month's salary can be more than 1 lakh.
SMART Compensation Package

SBI is the first bank in the country to offer a SMART compensation package to its employees in the Finance Ministry. Under which bank employees will be given the option to monetize some components / benefits of salary package as per their need and requirement. However this proposal has not yet been approved by the Finance Ministry.

Dearness Allowance

In addition to the startup basic salary, you get a percentage of basic salary as dearness allowance which is revised according to the figures of All India Consumer Price Index published by the Government of India every three months.

House Rent Allowance

This is another component of your gross salary and it is calculated as a percentage of your basic salary. This allowance depends on the city that gets your posting. For metro cities or Tier I cities, you will receive a maximum of 10% of basic salary and 7.5% of Basic Salary Allowance for rural areas. If you get posting away from your home, you will be entitled to lease accommodation and this amount is Rs. 29500 for Mumbai. The amount of lease accommodation depends on the city of your posting too. If you are taking advantage of lease accommodation, you will not get a house rent allowance.

City compensatory allowance

This allowance is basically given for the cost of living in Metro cities like Mumbai, Delhi. This happens to be 4 percent of your basic pay.

Miscellaneous benefits

Apart from all the above facilities, the bank offers its employees various types of allowances such as petrol allowance, news allowance, entertainment allowance, home maintenance allowance, etc. It is about 5000 rupees in your cadre. In addition to all these benefits, the bank provides all its officials with car loans, housing loans etc. at concessional rates.

Promotional Aspects

This is another reason that the younger generation picks up this bank over other banks. The promotion policy of SBI is the best in the banking sector and in many ways it is also better than the RBI's promotion policy. Therefore, with the above salary, you start your job in SBI, but with every promotion, your salary will continue to increase.

ADMT card 2018 issued for Karnataka Bank PO interview, please download @ Karnatakabank.com

Job is also about job satisfaction, not just about money but job certification. SBI gives you both job satisfaction and financial security. SBI PO is the best job in the banking industry; It provides the best entry level salary for its employees. Also, if you are interested in learning about the finer aspects of banking and finance, the bank also offers you excellent career opportunities for career development.

Take advantage of golden opportunities received by SBI PO Exam 2018 and get ready for the exam. Best wishes !!