Bank PO Salary – Perks, Allowances, Pay Scale, CTC, Take Home Salary

In this post we are going to tell you about salary, perks and allowances of a Bank PO or Probationary Officer. Although we have explained about the salary of Bank Probationary Officer earlier also but we are giving you updated information in this article. 

Those who are preparing for Bank PO often ask following questions:

What is the salary of A Bank PO?

What is the pay scale of a Bank Probationary Officer?

What is the gross salary of a Bank Probationary Officer?

What is the take home pay of Bank PO?

What is the CTC of a Bank Probationary Officer?

What are the perks and allowances of a Bank Probationary Officer?

In this article we are providing answer of all questions related to Bank PO Salary and after going through this article you will have a very good idea about the bank po salary.

Bank PO Salary Details

Bank PO Salary: Bank PO  salary or Bank Probationary officer starting salary is almost same in  most of the public sector banks and even some private banks such as Federal Bank are also following the similar pattern.

bank po

bank po salary

Wage Revision: In the year 2015 the wage revision of Bank Employees had been implemented. The wage revision of the Bank employees was due from November 2012. The wage revision of bank employees is being done every 5 years and the next revision is now due in November 2017.

Pay Scale of Bank PO Salary: Scale I – 23700 – (980 x 7 ) – 30560 – (1145 x 2 ) – 32850 – (1310 x 7) – 42020 , this is the pay scale of Bank PO or JMGS I Officer or Assistant Manager Pay Scale in Bank.

(The figures in the brackets indicate the annual increment and the number of stages for which the same is applicable)

The revised starting starting Basic Pay of a Bank PO or Probationary Officer is Rs. 23700 after 01.06.2015 as the wage revision was implemented from this date.

However in SBI there is a provision of four additional increments for Bank Probationary Officers at the time of joining itself.

Dearness Allowance: Apart from the basic salary there is provision of Dearness Allowance which is being revised every quarter and is currently 39.80% (November 2015 to January 2016).

Special Allowance: This has been added in 10th BPS (w.e.f 01.11.2012) and for scale I is 7.75% on which DA is also payable.

Other allowances

HRA: This depends on the place of posting and it can be either 6.5% or 7.5% or 8.5% depending on the place of posting.

CCA: This also depends on the place of posting and can be either 4% (maximum Rs.540/-) or 3 % (Maximum Rs.375/-) or 0%

Total Salary or take home salary: Total salary and perks of a Bank Probationary Officer on joining at a metro station will be around Rs.35000.00, in SBI the salary is more due to 4 additional increments.

Perks

  • Leased Accommodation:  The lease amount vary from bank to bank and place of postings. However, you should remember that this amount is not available as cash component and will directly go to the house owner – you have got a leased house.
  • Petrol Allowance: Some banks allow fixed Travelling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own a vehicle.
  • Newspaper Allowance: A fixed monthly amount is paid towards the cost of newspaper.
  • Other facilities: There are other facilities also such as PF, pension, medical facility, gratuity, LTC, HTC and loans at concessional rates etc.

Conclusion: So after going through the article now you must be having a very good idea about the salary as well as perks of a Bank Probationary Officer. If you have any query about the salary and perks of Bank PO, feel free to ask us by posting in comments and we will reply in detail.

Comments

  1. rakesh kumar says:

    what is the starting salary of idbo bank po,
    which is better to join bank of baroda or idbi bank as a po.

  2. What about it officers??? Will there b revision in there salary also?? Do they get leased accommodation and other facilities like po???
    What is the inhand cash component of it officer and other perks???
    Plz reply…

  3. sb chaubey says:

    what will be salery of a bank po at the time of joining in 2016 in Kanpur.

    what is at present salary of a Chief Manager in SBI in Kanpur

  4. kumar ayusman says:

    Sir,I have got joinings from bank of baroda and state bank of travancore,plz assist me in choose the best between these two and plz provide me their pay scale and allowances.

  5. how many time ibps takes for joing after prvisonal letter ?

  6. Raj kumar says:

    What will be the CTC of bank po of uttar banho kytriye gramin bank posted at siliguri.

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