SBI Salary 2024: Check Pay Scale, Allowances & Other Benefits

The starting basic pay of SBI Clerk is INR 26,730 (INR 24050 plus two advance increments). The pay scale is INR 24050-1340/3-28070-1650/3-33020-2000/4-41020-2340/7-57400-4400/1-61800-2680/1-64480. The total starting emoluments of a Clerical Cadre employee payable at Metro like Mumbai is around INR 46,000 per month inclusive of D.A., other allowances at the current rate and two additional increments for newly recruited graduate junior associates. Allowances may vary depending upon the place of posting. The in-hand salary of SBI Clerk includes the approximate amount a candidate gets after the deductions. The starting salary of SBI Clerk is approximately INR 46000 in a metro city like Mumbai.

IBPS Clerk starting salary is INR 19,900 (INR 17,900 plus two advance increments). The newly revised payscale of SBI Clerk is INR 17900-1000/3-20900-1230/3-24590-1490/4-30550- 1730/7-42600-3270/1-45930-1990/1-47920. Candidates can calculate their salaries by adding basic salary, HRA, city compensation, provident fund and pension contributions. The basic pay is INR 17,900, however, with two advance increments, the starting basic salary is INR 19,900.

The revised payscale of SBI Clerk is INR 17900-1000/3-20900-1230/3-24590-1490/4-30550- 1730/7-42600-3270/1-45930-1990/1-47920. Earlier, the payscale of SBI Clerk was INR 11765-655/ 3-13730-815/ 3-16175-980/ 4-20095-1145/7-28110-2120/ 1-30230-1310/1-31450. The starting basic pay was INR 13,075 (INR 11765 with two advance increments admissible to graduates).

SBI PO basic salary is INR 48, 480 (with 4 advance increments). This pay scale is applicable for Junior Management Grade Scale-I. The amount varies as per the place of posting. Employees posted in cities like Mumbai, Delhi, and Kolkata get comparatively more. Candidates are also entitled to the following benefits and allowances: Basic Pay Dearness Allowance City Compensatory Allowance (CCA) Leased House Accommodation Furniture Allowance Medical Insurance Travelling Allowance Petrol. The pay scale is INR 48480-2000/7-62480-2340/2-67160-2680/7-85920 applicable to Junior Management Grade Scale-I.

SBI PO salary structure is given below. Basic Pay-INR 41,960 Special Allowance-INR 6,881 DA-INR 12,701 Location Allowance-INR 700 Learning Allowance-INR 600 HRA-INR 2,937 Gross Salary-INR 65,780 Deduction (PF/Income Tax/Professional Tax/Pension)-INR 12,960 Net Salary-INR 52,820. The structure of SBI PO salary is given below.

Candidates selected to the post of Probationary Officers are eligible for DA, HRA/Leave rental, CCA, Medical and other allowances and perquisites. SBI offers a very lucrative salary package compared to other public sector banks. The total package of SBI PO is INR 8.20 Lacs (minimum) and INR 13.08 Lacs (maximum) depending on the place of posting. The details regarding the allowance are given below.

Candidates shortlisted for SBI PO are required to undergo training regarding the basic banking knowledge before joining as Probationary Officer. At the time of the joining, candidates are required to sign a bond of INR 2 lakh. They need to serve the bank for a minimum of three years. After the probationary period, candidates are confirmed to the post of Junior Manager Grade Scale I (JMGS-I). The promotion positions offered to candidates are as follows:

• Assistant Manager
• Deputy Manager
• Chief Manager
• Assistant General Manager
• Deputy General Manager
• General Manager
• Chief General Manager
• Deputy Managing
• Director Managing
• Director Chairman

The total annual emoluments of candidates posted in metro cities such as Mumbai INR 29,000 per month. This includes DA and other allowances at the current rate and two additional increments for newly recruited Junior Associates. The newly recruited SBI Clerk gets reimbursement of various perquisites, provident fund, pension under New Pension Scheme (Defined Contribution Benefit), medical leave fare and other facilities. 

SBI PO exam is conducted in three phases-prelims, Mains, and group exercises and interview. The prelims exam comprises English Language, Quantitative Aptitude, Reasoning Ability. The total marks allotted to the prelims exam are 100. The mains exam comprises both subjective and objective-type tests. The total marks allotted to the mains exam are 250. The final selection is done on the basis of Mains exam and group exercises and interview. Candidates are also required to appear for the psychometric test before group exercises and interview. The performance in the psychometric test is shared with the interview panel. The psychometric test is qualifying in nature. The Group Exercises and Interview carries 50 marks.