Salaries in SBI and Nationalized Banks

SBI Clerks jobs 2013 Expected In July

Many More Bank Jobs opportunities are expected to arrive in next three years According to the Government. Getting bank jobs in India now is not a tough task if the preparation is well job is in your hand.

SBI Clerk Salary:

The Starting salary pay structure of Clerical Cadre in State Bank of India is:  Rs.7200-19300/-

Plus DA/TA/HRA/CCA etc are additionally eligible. Approximately it is  around 14,177/-

SBI PO Salary:

PAY: In SBI, the starting basic pay is Rs 16,900/- (with 4 increments) in the scale of Rs 14500-600/7-18700-700/ 2-20100-800/7-25700 applicable to Junior Management Grade Scale I.

The official will also be eligible for D.A., H.R.A & C.C.A as per rules in force from time to time. At present monthly compensation at Mumbai will be approximately Rs 69,000/- inclusive of lease rental.

The officers are required to make 10% of their basic pay as contribution to Provident Fund and the Bank also makes matching contribution to the Employees Provident Fund. The new entrants will be governed by the Defined Contribution Pension Scheme/New Pension Scheme,where each employee is required to contribute 10% of Basic Pay and D.A. towards pension scheme and Bank also makes matching contribution.

What are other scales on promotion from Scale I to Scale VII
JMGS-I - Rs.14,500/- TO Rs.31,500/-@ [as shown above for bank PO]
MMGS-II - Rs.19,400/- TO Rs.34,200/-@
MMGS-III - Rs.25,700/- TO Rs.35,100/-@

This includes 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/

IBPS PO-3 Recruitment 2013-14 (Expected In July )

Bank PO Salary:(other than SBI)

The Starting salary pay structure of PO in State Bank of India is: Scale I - Rs. 14500 - (600x7) 18700  - (700x2) -  20100  (800x7) -  25700

Thus, the initial Basic Pay of a Bank Probationary officer / PO  will be Rs.14,500/-

In addition to Basic Pay, bank officers (i.e. Probationary officers / PO / Management Trainees) are eligible for the following allowances :-

(a) Dearness Allowance (DA) : DA in banks is revised on quarterly basis (i.e. in the months of February, May, August and November) based on the CPI as declared by Government of India. 

(b) 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.

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

The above indicates that the total salary of a probationary officer on joining at a metro station will be around Rs.27,908/.   However, the total salary of a probationary officer who has to join in rural area will be about Rs 27078/-  [This includes HRA] However, SBI gives four additional increments to Bank POs and thus salary will be higher by about Rs 4,000/-

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