SBI PO salary 2024 ranges from INR 41960 to INR 63840. During the entire tenure, the SBI PO salary is hiked 4 times with the added benefits.
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SBI PO Salary 2024: The SBI PO salary 2024, as per the revised structure, ranges between Rs. 52000—Rs. 55000 per month, with the basic pay of Rs. 41,960 to Rs. 63840 with 4 advanced increments. The gross compensation received ranges between INR 8.20 Lakhs (minimum) and INR 13.08 lakhs (maximum) per annum. It is the most sought-after job in the largest nationalized bank in India, which offers financial security and social status.
The SBI PO salary 2024 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.
SBI PO Salary 2024
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;
| Basic Pay (INR) | Increment (year-on-year in INR) | Period |
| 36000 | 1490 | 7 years |
| 46430 | 1740 | 2 years |
| 49910 | 1990 | 7 years |
This 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 2024 will be INR 63840.
SBI PO Salary Structure 2024
As per the revised salary structure, the candidates can have an overview from the table below about the increased salary of the SBI PO 2024.
| Salary Structure | Salary Amount |
| Basic Pay | INR 41,960 |
| Special Allowance | INR 6,881 |
| DA | INR 12,701 |
| Location Allowance | INR 700 |
| Learning Allowance | INR 600 |
| HRA | INR 2,937 |
| Gross Salary | INR 65,780 |
| Deduction (PF/Income Tax/Professional Tax/Pension) | INR 12,960 |
| Net Salary | INR 52,820 |
SBI careers are a great choice to obtain a secure future, and the SBI recruitment for SBI PO includes CCA, HRA, lease rentals, and medical allowances. As per the guidelines for 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 the SBI PO salary 2024, allowances, and the complete package.
SBI PO Salary Increment 2024
The pay scale below lists the take-home amount along with the increment and years in service as per the latest SBI PO salary 2024 structure.
| Period | Increment | Basic Salary |
| First 7 years | INR 1490 | INR 36,000 |
| Next 2 years | INR 1740 | INR 46,430 |
| Another 7 years | INR 1990 | INR 63,840 |
SBI PO Salary Deduction 2024
The following monthly deductions will be made from the SBI PO's gross salary of INR. 65,780. After that, the officers will receive the in-hand SBI PO Bank salary of Rs. 52,820. Check the SBI PO Salary Deduction, which is detailed below.
| Particulars | Amount |
| PF Contribution | INR 4,196/- |
| Income Tax | INR 3,290/- |
| Professional Tax | INR 200/- |
| Contributory Pension Fund | INR 5,274 |
| Total Deductions | INR 12,960 |
SBI PO Salary Structure Post 7th Pay Commission
The 7th Pay Commission came into effect in September 2019 to provide hikes to SBI PO officers. The SBI PO salary 2024 is set according to the norms defined by the 7th Pay Commission.
The hike includes various allowances and benefits besides the SBI PO salary 2024.
- SBI PO Salary 2024 Allowances
- SBI PO Additional Benefits
SBI PO Salary 2024 Allowances
The allowances as per the 7th Pay Commission are listed as per the official notification. Below are the SBI PO allowances and benefits.
| Allowance | Amount |
| Dearness Allowance | 26% of the Basic Pay |
| City Compensatory Allowance | 3% – 4% depending on location |
| House Rent Allowance | 7% – 9% depending on Place of Posting |
| Furniture Allowance | INR 1,20,000 |
| Medical Insurance | 100% covered for employees | 75% covered for dependent family |
| Travelling Allowance | AC 2-tier fare is reimbursed to the employee for official travels |
| Petrol Allowance | INR 1,100 – 1,250 |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. | Varies based on Cadre |
- 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.
- City Compensation Allowance (CCA): The range for CCA is 3-4% based on the leased house accommodation and 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.
- Travel Allowance (TA): 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 employees' families.
- Furniture Allowance: In addition to the SBI PO Salary 2024, INR 1,20,000 is allotted to 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 additional benefits of the SBI PO.
- 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.
Also Read: SBI PO Vacancy Details
SBI PO Roles and Responsibilities
The probationary period of the SBI PO officer is 2 years. During this 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. The SBI PO must also learn about retail and rural banking.
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.
Also Read: SBI vs. IBPS
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. 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
Also Read: SBI PO Recruitement 2024
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