South Indian Bank PO Salary- Complete Details

South Indian Bank, headquartered in Thrissur, Kerala, is a prominent private sector banking company. Almost every year, it posts a recruiting notice for Probationary Officers. The South Indian Bank PO recruitment 2022 has officially been released, and all qualified individuals are encouraged to apply. Interested people can apply for the position based on their qualifications. The deadline for online applications is January 5, 2022, while the deadline for paper applications is January 11, 2022. All applicants who are selected for the South Indian Bank PO Recruitment 2022 will receive a reasonable salary. Candidates who are taking the test can learn about the wage structure by looking at the South Indian Bank PO Salary. Along with the SIB PO pay, the selected applicants will receive other perks. 

South Indian Bank PO Salary 2022

Scale I is the pay scale for a SIB Probationary Officer (IBA package). The SIB follows the IBA-approved Probationary Officer Pay Scale (Indian Banks Association). So, the Probationary officer's income will be INR 23700-980/7 – 30560-1145/2 – 32850-1310/7 – 42021, which is based on the IBA Approved PayScale. The Probationary Officer will also be entitled to several benefits, including House Rent Allowance and Dearness Allowance. For CAIIB, the Probationary Officer will receive one more increment, and for JAIIB, the Probationary Officer will receive further increment.

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Depending on the scheme in place, the Probationary Officer will also be entitled to Performance Linked Incentives (PLI) and all of the other incentives and perks that are available to officers in Scale I.

South Indian Bank PO Salary 2022: Categorisation

A Probationary Officer with the SIB does not become permanent right away after being recruited. There is a term of training, followed by an internship, a Service Agreement Period, and ultimately, a post-Service Agreement Period. The steps are as follows:

• Classroom Teaching (Eight Months)
• Internship (Four months)
• Period of the Service Agreement (Two Years)
• Salary Following the End of the Service Agreement Period

Continue reading to learn about the remuneration offered to the candidate at each of the four levels. During the early training days, all applicants accepted into the SIB PO Program will be paid. The following will be included in the South Indian Bank PO Salary:

Classroom Training

After a person is hired through the SIB's Probationary Officer recruiting process, the initial phase is an eight-month Classroom Training programme. The appointees get initial training in finance and banking, as well as other relevant issues, throughout these eight months. Participants are paid a stipend of INR 3000.00 per month for the classroom training term.

Internship

After completing the eight-month classroom training, all candidates for the position of Probationary Officer in the SIB must do a four-month internship. Appointees might complete their internship in any of SIB's several branches. Entrants would be paid a stipend of Rs.15,000.00 per month for their internship.

Final Recruitment

Candidates who finish the 8-month classroom training and 4-month internship will be appointed as Probationary Officers in one of SIB's various branches. They will, however, be required to serve a Service Agreement Period, after which they will receive their confirmation letter. They will be paid on the INR 23700 – 980 / 7– 30560 – 1145/2 – 32850 – 1310/7 – 42021 scale. 

South Indian Bank PO Salary 2022: Allowances

They will also get HRA and DA, as well as other perks and benefits due to a Scale I Probationary Officer, as determined by the Indian Banks Association (IBA).

• Salary Basic: Rs. 23700.00
• Rs. 1,836.00 as a Special Allowance
• Rs 870.00 City Competitive Allowance (CCA)
• Dearness Allowance (DA): 12,206.00 rupees
• HRA (Housing Rent Allowance): Rs. 2133.00

South Indian Bank PO Job Profile

The SIB PO is an entry-level job where a South Indian Bank officer begins working after being posted. When a South Indian Bank PO joins a branch, they typically go through a two-year probationary term or training before being promoted to Assistant Manager. They may be required to conduct any sort of bank-related work before the end of their two-year probation period; it might be a clerk or assistant position. This is done to familiarise them with the bank's varied functioning methods.

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The following are the responsibilities for the South Indian Bank PO Job Profile:

• They are instructed to have a practical understanding of financial, accounting, marketing, billing, and investing throughout their probation time.
• After completing the probationary term, they are assigned to any branch as an Assistant Branch Manager to handle everyday client activities such as passing a check, issuing a draft, managing cash, and so on.
• They must seek to expand the bank's operations, which focuses on loans and mortgages, managing cash flow and financing.
• The PO's additional responsibilities include serving as a public relations officer, handling client complaints, and addressing other customer-related concerns such as account inconsistencies, correcting undue charges, and investigating complaints about bank services.
• After attuning to the bank environment and gaining sufficient experience in the bank's working procedures, they may be assigned more response work, such as planning, budget management, marketing, loan processing and permission, investment management, and so on, depending on their skills and aptitude.
• A South Indian Bank PO's job also involves managerial responsibilities, including supervising clerical labour, making decisions for the bank's advantage, monitoring cash balances, and so on.

FAQ's

1. What is South Indian Bank PO Salary?

The Probationary officer's income will be INR 23700-980/7 – 30560-1145/2 – 32850-1310/7 – 42021, which is based on the IBA Approved PayScale with other perks and benefits.

2. What is South Indian Bank PO Job Profile?

The following are the responsibilities of a South Indian Bank Probationary Officer:

• They are instructed to have a practical understanding of financial, accounting, marketing, billing, and investing throughout their probation time.
• After completing the probationary term, they are assigned to any branch as an Assistant Branch Manager to handle everyday client activities such as passing a check, issuing a draft, managing cash, and so on.