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.
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.
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.
- 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.