What is Bank PO Salary in India? – Read Here To Know

The job of a Bank PO (Probationary Officer) is looked upon as a lucrative one owing to its impressive pay scale and other employee benefits. The salary range of a bank PO is set as per the recommendations of the Pay Commission of India. In today’s blog post, we will give you a detailed description of bank PO salary in India.

The salary of a bank PO has several inclusive advantages along with the basic pay. That is why aspirants seeking a job in the banking sector consider the post of Probationary Officer as one of the most sought-after career choice.

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Bank PO Salary in India – A Sneak Peak

A Probationary Officer is a Scale-I Assistant Manager in the bank. Bank PO salary in India varies for different posts, like –

• SBI Bank PO salary
• IBPS Bank PO salary

SBI Bank PO Salary in India

Among public sector banks all over India, the State Bank of India offers the highest salary range. Every year, lakhs of candidates appear for SBI exams to be hired for the position of Probationary Officer. SBI PO salary structure is as follows –

• The basic pay is fixed at Rs.27,620 with four advance increments.
• The minimum annual compensation is Rs.7.55Lakhs while the maximum annual compensation is Rs.12.93Lakhs, depending on the location of posting, and other factors.
• The annual package of SBI PO salary includes basic salary, PPF & Tax, City Compensatory Allowance, Food Allowance, Dearness Allowance, petrol, Compensation for stationeries, and accommodation.

IBPS Bank PO Salary in India

IBPS or the Institute of Banking Personnel Selection conducts exams to recruit eligible candidates to various public sector banks across the country. The organization follows a salary structure different from that of SBI. IBPS PO salary structure is as follows –

• The basic pay is set at Rs.23,700 per month.
• The salary of IBPS PO is inclusive of Dearness Allowance, Special Allowance, and House Rent Allowance. The total monthly compensation is Rs.38,703.
• The gross annual CTC including House Rent Allowance without leased accommodation is Rs.5,57,640.

Apart from SBI and IBPS PO salary structure, aspirants should also be aware of the salary structure of a Probationary Officer in Cooperative Banks and Private Banks.

Cooperative Bank PO Salary Structure – The basic pay stands at Rs.30,000, with added benefits of staying the metropolitan city, HRA, dearness allowance, etc. The amount varies from bank to bank as per their policies, but one thing can be assured that pay is good in cooperative banks.

Private Bank PO Salary Structure – Standing at Rs.35,000, the basic pay of a PO in a private bank is relatively less than that of a public sector bank PO. However, the amount may vary from one bank to another.

Prepare for Bank Exams with Oliveboard

The remuneration of a bank PO in India is a well-paid one. The salary package of a Probationary Officer also includes umpteen benefits and allowances, which lure lakhs of students into applying for the banking entrances. Keep an eye out for exam notifications and start preparing for the upcoming banking exams. Oliveboard helps you in cracking the exam with its specially designed mock test as per the latest patterns and difficulty level. We have

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