Banks in India|Bank Jobs|Bank Recruitment|Banking News,Information & Articles|Banking in India|Bank Loan|Bank Employment|Bank Interest Rate-BankingOnly.com
      Recent News :
Bank Jobs:Bank Job India 2011-2012:

Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India

By: Ekta, Place: New Delhi,  Update:27 Oct 2014

Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India

Starting Salary of Bank Probationary Officer (PO) in PSU banks are approx Rs. 25,000. Salary in banks decided by all banks management body Indian Banks Association (IBA) and all banks employees umbrella organistion United Forum of Bank Unions (UFBU). The present salary is based on 9th Bipartite Settlement which was signed on 27.04.2010.The salary was made effective from1.11.2007 and now 10th Bipartite settlement is due from 1.11.2012. The settlement will when ever finalised but increased salary will be effective from 1.11.2012.

 

 

 

 

 

 

 

 

 

 

 

The salary in all Public Sector Banks/ Nationalised banks are same, but facilities may differs like medical, Leased House Rent, Travelling Expenses and other allowances. The SBI provides four additional increments at joining time to all employees and some other more facilities . The sample indicative salary of nationalized bank is given below as per present norms:

Bank PO Salary at Joining Time (as on 01.10.2014)

PSU Bank PO Salary at Joining Time in India

Salary

Major A class cities :Metro Cities

Other places in Area I(State Capitals etc)

Other places (District level and Rural Places)

Basic Salary

Rs.14500.00

Rs.14500.00

Rs.14500.00

Dearness Allowance (102.45%)

Rs. 14855.25

Rs. 14855.25

Rs. 14855.25

CCA(4% max Rs.540=)

Rs. 540.00

Rs.375.00

nil

HRA (Major A class cities - 8.5%, Other places in Area I -7.5%, Other places - 6.5%)

Rs.1232.50

Rs.1087.50

Rs.942.50

Total

Rs. 31127.75

Rs. 30817.75

Rs. 30297.75

 

 

 

Salary Components of Bank PO:

Basic Salary, Dearness Allowance (DA), House Rent Allowance (HRA), City Compensatory Allowance (CCA). HRA is not available for those officers who are residing in banks accommodation or subsidized accommodation. If you an officer have own house and not availing banks accommodation then 150 % HRA will be provided.

Bank PO Perks and Facilities at Joining Time (as on 01.10.2014)

 

Bank PO Perk and Facilities at Joining Time

Salary

Major A class cities :

Metro Cities

Other places in Cat A Centers(State Capitals etc)

Other places

Category B Centers

Other places

Category C Centers

Leased House Rent

Rs.12,500.00

Rs.10,000.00

Rs.7,500.00

Rs.5,500.00

Travelling Allowance

Rs.3,000.00

Rs.3,000.00

Rs.2,700.00

Rs.2,300.00

News Paper

Rs. 250.00

Rs. 250.00

Rs. 250.00

Rs. 250.00

Cleaning Materials

Rs.600.00

Rs.600.00

Rs.600.00

Rs.600.00

Business Development Expenses

Rs.300.00

Rs.300.00

Rs.300.00

Rs.300.00

Medical Aid

Rs.450.00

Rs.450.00

Rs.450.00

Rs.450.00

Total

Rs.17,100.00

Rs. 14,600.00

Rs.11,800.00

Rs.9,400.00

 

Perks and Facilities Components: Banks Leased Housing Accommodation, Travelling Allowance, News Paper, Cleaning Materials, Business Development Expenses, Medical Aids etc.

Above mentioned facilities are based on a single bank and varies from others. But all most banks are providing same. The Salary is mandatory as per settlements but perk and facilities can be enhanced by particular bank. Like some banks are providing unlimited self medical expenses up to ceiling of 90% of expense, for furniture Rs. 70,000 on every ten years, lunch allowance etc.

Click to View: State Bank PO Starting Salary in India

 

PSU banks salary followed by job guarantee and life time pension facility, where private banks paying more but there are 25 % employee retrenchment every year and no one is reaching at pension provision.

SCALES of Bank PO

JMGS-I - Rs.14, 500/-    TO Rs.31, 500/-@

MMGS-II - Rs.19, 400/-  TO Rs.34, 200/-@

MMGS-III - Rs.25, 700/- TO Rs.35, 100/-@

@including two additional stagnation increments

SMGS-IV - Rs.30, 600/- TO Rs.36, 200/-

SMGS-V - Rs.36, 200/-  TO Rs.40, 400/-

TEG-VI - Rs.42,000/-  TO Rs.46,800/-

TEG-VII - Rs.46,800/- TO Rs.52,000/-

DEARNESS ALLOWANCE

For every 4 points rise/fall in index, Dearness Allowance at 0.15% per slab.

CITY COMPENSATARY ALLOWANCE

CCA rates are as under:

Places in Area I - 4% of Basic Pay, Max. Rs.540/-p.m.

Places with population of more than 5 lacs - 3% of Basic Pay,

Max.   Rs.375/-p.m.

HOUSE RENT ALLOWANCE

We have retained the existing rate of HRA as under:

           Major A class cities -       8.5%

           Other places in Area I -   7.5%

           Other places -                 6.5%

MEDICAL AID

For officers other than SBI, the medical aid has been enhanced as; 

Scale I to III –             Rs. 5100/- p.a.

Scale IV & above -      Rs. 6320/- p.a.

List of Banks to Bipartite Settlement

 

 

1. Allahabad Bank

2. Andhra Bank

3. Bank of Baroda

4. Bank of India

5. Bank of Maharashtra

6. Canara Bank

7. Central Bank of India

8. Corporation Bank

9. Dena Bank

10. Indian Bank

11. Indian Overseas Bank

12. Oriental Bank of Commerce

13. Punjab & Sind Bank

14. Punjab National Bank

15. Syndicate Bank

16. UCO Bank

17. Union Bank of India

18. United Bank of India

19. Vijaya Bank

20. State Bank of India

21. State Bank of Bikaner & Jaipur

22. State Bank of Hyderabad

23. State Bank of Indore

24. State Bank of Mysore

25. State Bank of Patiala

26. State Bank of Travancore

27. Bank of Rajasthan Ltd.

28. The Catholic Syrian Bank Ltd.

29. The Dhanalakshmi Bank Ltd.

30. The Federal Bank Ltd.

31. ING Vysya Bank Ltd

32. The Jammu & Kashmir Bank Ltd.

33. The Karnataka Bank Ltd.

34. The Karur Vysya Bank Ltd.

35. The Lakshmi Vilas Bank Ltd.

36. The Nainital Bank Ltd.

37. The Ratnakar Bank Ltd.

38. The South Indian Bank Ltd.

39. The Royal Bank of Scotland N.V.

40. Bank of America N.A.

41. The Bank of Tokyo-Mitsubishi UFJ, Ltd.

42. BNP Paribas

43. Citibank, N.A.

44. The Hongkong & Shanghai Banking Corporation Ltd.

45. Sonali Bank

46. Standard Chartered Bank

 

Bank PO aspirants must read the details of  

Text of the Settlement (Memorandum) on

Bank Officers Wage Revision

Click to View for SBI Associate Banks Clerk Final Results

Click to View for SBI Specialist Officer Written Exam Results 2013

Click to View for SBI POs Exam 2013, Tips for Preparation

Click to View for Bank Jobs PO / Clerk Online Practice Tests

Click to View for Preparation for an bank interview

 SBI 1544 PO (Probationary Officers) Recruitment Notice 2013

Click to View for SBI PO Recruitment Vacancies Advertisement details

SBI 1544 PO(Probationary Officers)Recruitment Notice 2013, Online Apply Date 30 January- 23 Feb 2013

Important Dates for SBI Probationary Officers (PO) Recruitment 2013:

SBI PO Syllabus 2013

SBI PO Eligibility Criteria

State Bank Of India (SBI) Recruitment 2012-2013 Clerk/PO Apply Exam Date Results

How to Apply for SBI PO Job Recruitment 2013

SBI PO Job Recruitment Notification 2013: Minimum and Maximum Age Limit for Online Apply

State Bank PO Starting Salary in India

 

 

 
 Related News
Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India (27 Oct 2014)
SBI Associate Banks PO 2986 Vacancy 2014 : Apply Online (02 Sep 2014)
Bank Jobs : Apply Date and Recruitment Test Exams in 2014-2015 (10 Aug 2014)
IBPS Clerks 4th CWE Exam 2014: Online Apply, Eligibility and Exam date Notificat.. (10 Aug 2014)
IBPS PO 4th CWE Exam 2014: Online Apply, Eligibility and Exam date Notification (17 Jul 2014)
 Most Popular News
Bank Jobs : Apply Date and Recruitment Test Exams in 2014-2015 (10 Aug 2014)
Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India (27 Oct 2014)
Bank Branch ATM Space Required by banks in India: View and Apply (07 Aug 2014)
Gratuity hike effective from 24.05.2010 : Gazette Notification (31 May 2010)
SBI,State Bank of India increased 3100 Clerks Vacancies to 9500,Apply Date exte.. (01 Mar 2012)
5 Recent Comments
anil     28 October 2014
you have mentioned that perks of Rs 17100/- i am sorry to say that this is totally wrong i am working as Manager still i am getting not more than Rs7000/- including all. try to give correct information
 
KK Daniel    18 February 2013
Is IDBI not comes under any of these banking unions and does not falls under 10th BPS? Any one plese help me out!
 
indrajeet sahu    26 November 2012
can you send me aplication of bank officer form
 
aksanshu prsadh    14 October 2012
Whats the salary of Karur vysya bank assistant manager scale - 1 , coming through ifbi . they say its 4 lakhs
 
Jitender    28 September 2012
these all information are best for chose a right way. most of people are not aware what way they choose. like this type of information for help for everyone. thank you
 
 
19 More Comments
 
  anil : 28 October 2014 :
you have mentioned that perks of Rs 17100/- i am sorry to say that this is totally wrong i am working as Manager still i am getting not more than Rs7000/- including all. try to give correct information
  KK Daniel : 18 February 2013 :
Is IDBI not comes under any of these banking unions and does not falls under 10th BPS? Any one plese help me out!
  indrajeet sahu : 26 November 2012 :
can you send me aplication of bank officer form
  aksanshu prsadh : 14 October 2012 :
Whats the salary of Karur vysya bank assistant manager scale - 1 , coming through ifbi . they say its 4 lakhs
  Jitender : 28 September 2012 :
these all information are best for chose a right way. most of people are not aware what way they choose. like this type of information for help for everyone. thank you
  ds : 27 September 2012 :
Female Probationary Officer in Bank of India for a period of probation may be transferred Or not
  SUJAI SAHA : 09 September 2012 :
I m Ex serviceman and getting offer from Bank of Baroda and State Bank of India for the post in Arms Guard. can any one advice me which bank will provide better perks and promotion in future
  RAJNISH KUMAR : 28 August 2012 :
what would be expected salary increase in bank po in 2012 wage revision sattlement
  jayanaresh : 10 February 2012 :
THANKS A LOT FOR UR VALUABLE INFO
  Abhinav : 14 January 2012 :
Inspite of knowing that public sector banks need a revised HR policy in place, our finance ministry and IBA is silent on these peripheral issues and moreover banks union leaders plays the role of corrupt politicians and are good for nothing as they all are diamonds of the same ring. Issues like increasing compensation structure of high pressure bank jobs to attract fresh and bright talent, modernization of banks with introduction of innovative and latest technology for which our IT sector need to play a vital role, strictly following capital adequacy norms, satisfying customer needs and requirements by following the policy of customer being the king, immensely following the much needed financial inclusion policy, the never liked transfer policy, provision of 5 days working in a week with regulated working hours, world class training to working and newly recruited staff needs to be taken care off at the earliest. Public sector banks have a long way to go to be in the list of top banks of the world. Firstly banks needs to address all these important issued to compete with its peers of private and foreign banks to gain that extra edge. RBI has deregulated the Interest on Savings Bank account. Basel III norms are being implemented shortly. Banking Regulation Act and Companies Act are likely to be amended which will open the doors for more private sector banks in the country. This will lead to stiff competition among banks finally pressurising the profitability of banks. Global recession is going to add fuel to this fire
  Swati Adhav : 13 January 2012 :
wow...thts nice yar ill best way try for this po post...
  Manish : 23 December 2011 :
bhai log ye batao ki Grameen banko me kya salary and perks hai PO ke liye please do tell of you hav some good info.
  harish : 03 December 2011 :
nice.........
  saraswathi : 22 November 2011 :
Any online exam in bank
  Abhinav : 16 November 2011 :
JO log esko dekh ke khush ho rahe hai, I suggest you guys to have a look at the private sector, you will find this nothing and bullshit..
  DHIRESH TRIPATHI : 02 November 2011 :
BANKING IS VERY GOOD SECTOR TO GROW
  C.NAGASUBBARAYUDU : 19 October 2011 :
i want bank job
  hitesh : 01 October 2011 :
do u have anyknowledge for transfers at bank e.g karur vysya bank
  ankaj dhadwal : 19 August 2011 :
bank job
 
 
 
Comment
   
Your Name :
Email :
Comment :
 
click for new code
Security Code :
 
   
 
SubScribe
Partner Sites:        www.bankcode.in www.saidquotes.com www.postalpincode.com www.banksdirectoryindia.com
@ Copyright 2007-2013 All rights reserved | Best viewed with 1024x768 pixel resolution with MSIE |