Bank PO Salary
What is the monthly salary of a bank PO? This is a question that often comes in the mind of the candidates and will answer the same question here.
If you want a good salary job in banking sector, then Bank PO is the best option for you. A Probationary officer is an Assistant Manager of Scale I in a bank. Bank PO is the most sought after career in the banking sector. Bank PO Salary
Bank PO job provides good salary and job security along with a reputed job. Here we will give detailed information about salary of IBPS and SBI Probationary Officer etc. and will tell about how much salary a bank PO gets. Bank PO Salary
What is the salary of SBI Bank PO?
SBI Bank PO salary :-
Basic salary of SBI PO is Rs 27620. Four advance increments are included according to Pay Scale 23700-980 (7) – 30560 – 1145 (2) – 32850 – 1310 (7) – 42020. For the total basic pay, this amount is increased by Rs 980 for the next 7 years to Rs 23700, and for the next two years basic salary of Rs 30560 with an annual increment of Rs 1145. The maximum basic salary is 42020 rupees.
|Basic Pay||Rs 27620 / – (Increment in 4 stages-1st Increment- Rs. 23700-980 / 72nd Increment-Rs. 30560-1145 / 2|
3rd Increment- Rs. 32850-1310 / 7
4th Increment- Rs. 42020
|Dearness Allowance (DA)||46.9% of the Basic Pay (Revised Quarterly)|
|(CCA)||This varies with the place of posting at 4% or 3%.|
|HRA||9%, 8% or 7% (Depends on the place of posting)|
|Furniture Allowance||Rs. 120000 / –|
|Medical Insurance||100% medical coverage for SBI employees and 75% for their family members|
|Traveling Allowance||For official travels, reimbursement of AC 2-tier fare is provided|
SBI PO Allowances
Another advantage of the job in banking sector is that in addition to salary, many other facilities are also available. Along with basic pay, there are many other perks which are available to SBI PO. Which include:
- Allowance amount
- 46.9% of basic pay dearness allowance
- Compensation allowance of the city 3% – 4% depending on the location
- House rent allowance 7% – 9% depending on posting location
- Furniture Allowance INR 1,20,000 Bank PO Salary
- 100% cover medical insurance for the employee. 75% cover for dependent family
- Travel allowance AC 2-level fare will be provided to the employee for official travel.
- Petrol Allowance INR 1,100 – 1,250 Bank PO Salary
- Newspaper allowance, entertainment allowance, books allowance, etc. varies depending on posting.
What is the salary of IBPS PO 2020?
IBPS PO Salary :-
Basic salary for IBPS PO (as per 10th Bipartite settlement) is 23700 – (980 x 7) – 30560 – (1145 x 2) – 32850 – (1310 x 7) – 42020. Basic salary of IBPS PO after 7 years Rs. 30,560; Rs 32,850 after 7 + 2 years; After 7 + 2 + 7 years Rs 42,020. is. Bank PO Salary
|IBPS PO Basic Pay||Rs 23700 / – (There are Increment that are done in 4 stages) Salary after 1st Increment- Rs. 30560 / –|
Salary after 2nd Increment-Rs. 32850 / –
Salary after 3rd Increment- Rs. 42020 / –
|House Rent Allowances (H.R.A)||7% -9% of the basic pay|
|Dearness Allowance (D.A)||39.8% of the Basic Pay|
|City Compensatory Allowance (CCA)||3% or 4% (depending on the place of posting)|
|Special Allowance (S.A)||7.75% of the basic pay|
IBPS PO House Rent Allowance (HRA) :- House rent allowance varies by place of posting and is usually 9.0% or 8.0% or 7.0% of base salary, depending on the type of cities (ie, metros, large cities, or other locations).
IBPS PO Dearness Allowance (DA): IBPS PO provides Dearness Allowance (DA) to its officers and is given as a percentage of the basic salary of the employees (in January 2016, it was about 39.8% of the basic salary). This dearness allowance is revised every three months based on the All India Consumer Price Index data published by the Ministry of Statistics and Program Implementation, Government of India.
IBPS PO Special Allowance (SA): This allowance has recently been added to the salary and is about 7.75% of the basic salary. It has come into force from 01.01.2016. Bank PO Salary
IBPS PO City Compensatory Allowance :- It varies by city and depending on the type of city, it can be 0%, 3% or 4%.
IBPS Probationary Officer has some other allowances such as: Traveling allowance, newspaper reimbursement, medical aid, benefits under the new pension scheme etc. If we mix the whole, then the salary will be 35,000+ rupees. Bank PO Salary
What the monthly salary of Co-operative Bank PO?
Cooperative Banks monthly salary :-
Co-operative banks are basically society banks and get lower salary as compared to IBPS PO, SBI PO or RRB PO. These banks are regulated by the Reserve Bank of India and the salary of a co-operative bank officer is around Rs 30,000. One reason why cooperative bank officers do not get great salaries is that they mainly serve small scale industries and self-employed workers.
What is the monthly salary of Private Bank PO?
Private Bank PO monthly salary :-
Different private banks have different pay structure, but ICICI is currently the top private bank among all private banks. The salary structure of ICICI Bank is quite low as compared to public sector banks. The average salary of a probationary officer in a public sector bank like ICICI is Rs 34,561 per month. Bank PO Salary
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Bank PO allowance of ICICI bank: allowances
- Basic Pay: 11,000 Rupees.
- House Rent Allowance: 5000 Rupees.
- Conveyance Allowance: 2500 Rupees.
- Superannuation Allowance: 1650 Rupees.
- Leave Travel Allowance: 2000 Rupees.
- Additional HRA Allowance: 3125 Rupees.
- Canteen: 1300 Rupees.
- Medical: 1250 Rupees.
- PF & Gratuity: 2236 Rupees.
- Performance Pay: 45,000 Rupees.
Which bank PO has highest salary?
If you want to work in the banking sector, a question must have come to your mind that which bank PO gets the highest salary? Everyone wants to choose a better salary job in life as their career. In the same public sector bank, the candidates who wish to get recruited as PO, also want to know which bank PO gets the highest salary. Public sector banks, private sector banks, regional rural banks and cooperative banks all provide a stupendous salary to their employees.
We hope that the above information will be helpful for you in deciding which type of bank you want to go to. For more information related to bank or other government jobs, stay connected with dishcoachingcentre.com.