Bank PO Salary in India [Salary & Allowances] Guide

Bank PO salary in India varies from bank to bank. Salary is an interesting thing that everyone wants to know. A Bank PO in State Bank of India gets a higher salary than probationary officers in other banks. Allowances in State Bank of India for bank PO are also more. Like HRA for bank PO in State Bank of India is about 25000-30000/- per month whereas other banks pay merely Rs. 5000/- to 10,000/-.

Starting pay scale of bank PO is 23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020/- in every bank except IDBI & SIDBI bank. IDBI & SIDBI bank follow different pay scale structure. In-hand salary of a Bank PO is about 40,000/- per month.

Pay Scale Structure of Bank Probationary Officers

  • Assistant Manager : 23700 – 980 – 30560 – 1145 – 32850 – 1310- 42020
  • Manager : 31705 -1145 -32850 -1310 -45950
  • Senior Manager : 42020 -1310 -48570 -1460 -51490
  • Chief Manager : 50030 -1460 -55870 -1650 -59170
  • Assistant General Manager: 59170 -1650 -62470 -1800 -66070
  • Deputy General Manager: 68680 -1960 -76520
  • General Manager: 76520 -2120 -85000
  • Executive Director : Approximate 1,50,000/-
  • Managing Director: Approximate 2,00000/-

Facilities and Allowances to Bank PO

The Bank PO gets various facilities as mentioned below.

Facilities/Allowances Details
Accommodation Bank provides accommodation to the employees in lieu of HRA. Bank directly deposits the HRA into the house owner’s bank account.
Travelling Allowance Bank PO gets travelling allowance as per class of the city.
Newspaper Reimbursement Fixed amount.
Medical Aid Rs. 8,000/-

Bank PO Salary in India

Salary of Bank PO

SALARY Amount and Rate
Dearness Allowance The current rate of Dearness allowance in banks is 4.2%. Government revises DA for banks on a quarterly basis.
CCA It can be either 4% or 3% that is Rs.870/- or Rs.600/-
Special Allowance The rate of the amount is 7.75% on DA
HRA The rate of the amount can be 9%, 8% or 7% depends on the place of posting
Starting Salary of Bank PO
Class A Cities Area – I Other
Basic Pay 23,700 23,700 23,700
Special Allowance 1836.75 1836.75 1836.75
DA 12,206.69 12,206.69 12,206.69
CCA 870 600
Transport Allowance 0 0 0
Total (without HRA) 38,613.54 38,343.54 37,743.54
HRA 2133 1896 1659
Gross with HRA 40,746.54 40,239.54 39,402.54

Bank PO Salary Post Wise

Salary of the Bank PO increases when he/she gets promotion. Bank PO starts the career from Scale-1, and gets promoted up to Scale-7. The following table shows post wise salary of a Bank PO.

SCALE AMOUNT
Scale- 1 Rs. 23,700- 980- 30,560-1,145- 32,850- 1,310- 42,020
Scale- 2 Rs. 31,705- 1,145- 32,850- 1,310- 45,950
Scale- 3 Rs. 42,020- 1,310- 48570- 1,460- 51,490
Scale- 4 Rs. 50,030- 1,460- 55,870- 1,650- 59,170
Scale- 5 Rs. 59,170-1,650-62,470-1,800-66,070
Scale- 6 Rs. 68,680- 1,960- 76,520
Scale- 7 Rs. 76,520-2120-85,000

Cost to Company (CTC) of Bank PO

Besides the Basic Pay, Bank PO gets DA and special allowances. In addition, Bank PO gets other allowances like HRA, Medical Allowance, Newspaper Charge, Petrol Charge, Canteen Subsidy, Entertainment Allowance. Hence, CTC of Bank PO goes very high. Moreover, These allowances vary from bank to bank and place of posting.

CTC Monthly Yearly
Basic Pay 23,700 284,400
Special Allowance 1,837 22,041
DA 12,206 146,472
CCA 870 10,440
Transport Allowance
Total (without HRA) 38,613 463,356
HRA 2,133 25,596
Gross with HRA 40,747 488,959
Medical Aid 8,000
Entertainment 500 6,000
Newspaper 300 3,600
Petrol 3,000 36,000
Telephone 400 4,800
Canteen Subsidy 400 4,800
Pension Contribution 2,500 30,000
CTC (including HRA) 582,159

Bank PO Salary in Different Banks

BANK NAME AMOUNT
 Indian Bank PO Salary Rs 38,000 in-hands per month
ICICI Bank PO salary Rs. 34,561/- per month
Axis Bank PO salary Rs.15,000 – Rs,21,277.
 Lakshmi Vilas Bank PO Salary Range from Rs.23,700 to Rs.42,020
PNB PO Salary Rs. 26,097 per month
RBI PO Salary The annual salary of 12-14 Lac

FAQs

#1. What is the salary of SBI bank probationary officer?

Full salary of SBI PO is around 45K per month. Pay scale of SBI PO is 23700-42020. Starting basic salary of SBI PO is Rs.27,620/- . SBI PO gets 4 increments in advance. Apart from the basic pay, bank PO gets the following allowances.

  • Dearness Allowance
  • City Compensatory Allowance
  • Tax and PPF
  • Allowances like Petrol, Newspaper, Entertainment, Tea and Coffee
  • Leased rent accommodation or staff quarter

CTC is about 7.5 Lakhs. Allowances differ from city to city.

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