SBI PO Salary 2017: State Bank of India (SBI) has released notification for 2403 vacancies to the post of Probationary Officers. SBI PO is the most sought after bank job in the country due to its good renumeration and employee benefits. State Bank of India offers a Smart Compensation Package which would enable candidates a choice to monetize specific elements of the salary package. This is the main reason which forces most of the candidates to aspire for SBI PO Recruitment. The basic salary of SBI PO is Rs 23,700. Apart from this, Probationary Officer will get 4 advance increments of Rs 980 which is added to the basic.
Therefore, the basic salary in total is Rs 27,620. This article has explained in details the SBI PO salary. Candidates under SBI PO 2017 recruitment process will be selected on the basis of preliminary exam, mains exam and group exercises & interview. The finally selected candidates will be on two years probation period. Candidates can check below for more details on the SBI PO salary 2017.
SBI PO Salary 2017 – Pay Scale
Starting basic pay is Rs. 27,620/- (with 4 advance increments) in the scale of Rs.23700-980/7- 30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I.
The candidates will be eligible for D.A, H.R.A/Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time.
The total compensation per annum on CTC basis would be a minimum of Rs. 7.93 lacs and maximum of Rs 12.95 lacs depending on the place of posting and other factors.
SBI PO Salary 2017 – Earnings
- Basic Salary = Rs. 27620
- Dearness Allowance = Rs. 12677
- City Compensatory Allowance (CCA) = Rs. 870
- Special Allowance = Rs. 2140
- Total Earning Before Deductions = Rs. 43307
SBI PO Salary 2017 – Deductions
- PF (10% of Basic) = Rs. 2,762
- NPS (10% of Basic+DA) = Rs. 4,000
- Income Tax = As per govt norms.
- Other allowances including Newspapers, Entertainment allowance, Conveyance etc.) = Rs. 4,130
- HRA = Rs. 2,486
SBI PO Salary 2017 – Benefits
The candidates apart from the renumeration are also entitled to the following benefits:
- Leased accommodation ranging from Rs 8,000 in ‘C’ Category centres to Rs 29, 500 in Metros
- Medical insurance for self is 100 % and for family is 75%
- Home Travel Concession/ Leave Fare Concession.
- Concessional interest rates for Housing/Car/Personal Loans