The State Bank of India (SBI), the largest bank in India, offers one of the most sought-after positions through the SBI PO (Probationary Officer) exam. SBI PO is highly competitive due to the prestigious role and the attractive compensation package that comes with it. This article delves into the comprehensive salary structure for SBI POs, detailing both the gross salary and the net in-hand pay that officers receive. We’ll explore the various components, such as basic pay, allowances, deductions, and additional benefits, providing insights into the financial perks of this esteemed role.
SBI PO Latest Salary 2024
Component
Amount (₹)
Initial Basic Pay (with 4 increments)
56,480
Dearness Allowance (17.20%)
11,545.86
House Rent Allowance (HRA)
5,648.00
City Compensatory Allowance
2,300.00
Learning Allowance
850.00
Special Allowance
14,967.20
Gross Salary
91,791.06
Deductions
9,617
Net Salary
82,174
SBI PO Salary
SBI PO Latest Salary 2024 Deductions Details
Deduction
Amount (₹)
Employee PF Contribution
5,648.00
Professional Tax
200.00
Income Tax Deducted During Month
3,769.00
Total Deduction
9,617.00
SBI PO Salary Deductions
SBI PO Latest Salary Slip
SBI PO Allowances, Perks and Benefits
Leased Accomodation Facility
Dearness Allowance
City Compensatory Allowance
House Rent Allowance
Medical Insurance
Travelling Allowance: Reimbursement for AC 2-tier fare on official trips
Additional Allowances: Newspaper, Entertainment, Books, vary by location
Cashless Treatment: Available at selected medical facilities nationwide
Loan Benefits: Concessionary rates on home, car, and personal loans
Pension Contribution: Under new pension scheme
Leave Travel Concessions (LTC)
(FAQs) Frequently Asked Questions about SBI PO Salary
What is the basic pay for an SBI PO in 2024? The starting basic pay is ₹56,480, including four annual increments.
What allowances are included in an SBI PO’s salary? Allowances include Dearness Allowance, House Rent Allowance, City Compensatory Allowance, and Special Allowance.
Are there additional benefits? Yes, benefits include Medical Insurance, Travelling Allowance, cashless medical treatment, and concessionary loan rates.
What are the deductions in the SBI PO salary? Common deductions include Employee PF Contribution, Professional Tax, and Income Tax, totaling about ₹9,617.
What is the net monthly salary of an SBI PO? After deductions, the net monthly salary is approximately ₹82,174.
Is there a pension scheme for SBI POs? Yes, SBI POs are eligible for contributions to a new pension scheme.
What is the gross monthly salary for an SBI PO? The gross salary typically amounts to around ₹91,791, though it may vary slightly based on specific allowances and location.
