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.
|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/-|
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|
|Total (without HRA)||38,613.54||38,343.54||37,743.54|
|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- 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.
|Total (without HRA)||38,613||463,356|
|Gross with HRA||40,747||488,959|
|CTC (including HRA)||582,159|
Bank PO Salary in Different Banks
|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|
#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.