SBI is the largest bank in India and SBI PO is one of the most coveted exams in India. In this article, we will have a look at the SBI PO Salary – Gross and Net in hand salary of State Bank of India (SBI) PO (Probationary Officer).
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
Dearness Allowance: 15.97% of Basic Pay
City Compensatory Allowance: 3%-4% based on location
House Rent Allowance: 7%-9% depending on posting location
Medical Insurance: 100% for employee
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.
