Presently, the starting basic pay is 27,620/- (with 4 advance increments) in the scale of 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I. The official will also be eligible for D.A, H.R.A/ Lease rental, C.C.A, Medical and other allowances & perquisites as per rules in force from time to time. The total compensation per annum on CTC basis be a minimum of 8.20 lacs and maximum of 13.08 lacs depending on place of posting and other factors.
SBI may offer, subject to necessary approvals, a SMART Compensation Package which would enable candidates a choice to monetize specific elements of the salary package.

SBI PO officers are eligible for reimbursements of various allowances

• Dear allowance
• Provident Fund
• Gratuity
• Pension under the new pension scheme
• Leave fare

And other facilities as per the instructions of the bank issued from time to time.

This compensation includes least rental accommodation where the employees get the housing rent as the part of their package. If due to some reasons, SBI isn’t able to provide accommodation to its PO, it compensates by providing a housing allowance. The nature of this allowance become more prominent as you move up the career ladder.

SBI takes care of the health and well-being of its employees and their families by taking care of the medical expenses of its employees. Medical benefits are

• 100% for the Employee
• 75% for the dependent family members

Medical benefits form a key point of the overall package.

SBI Probationary Officers are provided with attractive leave policies which includes

• 33 days of Privilege Leave
• 12 days of Casual Leave.
• Annually along with Sick and Maternity Leave

The employees get leave travel concession to visit places within India. Holiday homes and bank guest house are available for employees at cities and tourist destinations.

The other life style related benefits that an SBI PO enjoys

• The Bank offers its employees perks like newspaper allowance, petrol allowance, entertainment allowance, house maintenance allowance, books & magazine allowance, briefcase allowance, reimbursement of telephone bills etc.
• Employees are also allowed Housing loan, Car loan and personal loan at a concessionary rate of interest.
• Also the bank recognizes and promotes merit by providing scholarships to the meritorious children of all employees.

So, getting offer to serve as an SBI Probationary Officer is a definite step towards leading a comfortable life with great emphasis on a healthy work life balance.