Bank PO Salaries 2024 (SBI, PNB and more): How much govt banks’ probationary officers earn?

IBPS PO Salary: As of now, the basic pay for the role of PO is Rs 36,000, and the gross salary by adding various allowances stands at approximately Rs 57,289.70.

By: Education Desk
New Delhi | Updated: December 28, 2024 10:13 AM IST

3 min read

IBPS PO, SO Recruitment 2025: Application deadline tomorrow for over 6000 posts at ibps.in

The recruitment drive aims to fill 6,215 positions, including 5,208 vacancies for Probationary Officers and 1,007 for Specialist Officers. (representative image/ file)

The Institute of Banking Personnel Selection (IBPS) conducts the exams for the recruitment of probationary officers (PO) at the banks. The IBPS PO salary is one of the driving factors for an aspirant to opt for a career in banking. Several factors are responsible for the calculation of a PO’s salary including the bank and the place of posting.

Read | SBI PO Notification 2025: Notification out for 600 vacancies; application begins at sbi.co.in

As of now, the basic pay for the role of PO is Rs 36,000, and the gross salary by adding various allowances stands at approximately Rs 57,289. There are also a few deductions including tax and National Pension Scheme (NPS), and the in-hand salary sums upto Rs 52,630.

Here’s the salaries of POs from top banks

State Bank of India (SBI)

The SBI official website in the ‘Emoluments (As on 31.03.2016)’ section shows that the starting basic pay is Rs 27,620 (with 4 advance increments) in the scale of Rs 23700-980/7-30560-1145/2-32850-1310/7-42020 applicable to Junior Management Grade Scale-I. The official will also be eligible for DA, HRA/ lease rental, CCA, medical and other allowances and perquisites as per rules in force from time to time. The total compensation per annum would be a minimum of Rs 7.55 lack and a maximum of Rs 12.93 lack depending on the place of posting and other factors.

Bank of Baroda

Pay Scale	Rs 23700-980 x 7/30560-1145 x 2/32850-1310 x 7/42020
Basic Pay	Rs 23700
In-Hand Salary	Rs 28,321 to Rs 33,986 per month (Approx)
Allowances	House Rent Allowances Dearness Allowances City Compensatory Allowance Transport Allowance Accident Insurance LTC Medical Facilities Loan Facilities Other Allowances

Punjab National Bank

Scales of Pay for Officers

Scale I – 23700 980/7 30560 1145/2 32850 1310/7 42020

Scale II – 31705 1145/1 32850 1310/10 45950

Scale III – 42020 1310/5 48570 1460/2 51490

Scale IV – 50030 1460/4 55870 1650/2 59170

Scale V – 59170 1650/2 62470 1800/2 66070

Scale VI – 68680 1960/4 76520

Scale VII – 76520 2120/4 85000

Canara Bank

Pay Scale	Metro Cities	State / Capitals	District level & Rural Places
Basic salary	Rs 23700	Rs 23700	Rs 23700
CCA (City Compensatory Allowance)	Rs 870	Rs 600	Nil
HRA (House Rent Allowance)	Rs 2133	Rs 1896	Rs 1659
DDA (Dearness Allowance)	Rs 12206.69	Rs 12206.69	Rs 12206.69
Special Allowance	Rs 1836.75	Rs 1836.75	Rs 1836.75
Total	Rs 40,746.54	Rs 40,239.54	Rs39,402.54

Bank of India

The salary of the BOI PO under the Junior Management Grade Scale – I (JMGS I) is 36000-1490/7-46430-1740/2-49910-1990/7-63840.

Indian Bank

The candidates who are selected as POs in Indian Bank are paid a basic salary of Rs 23,700. The candidates are also entitled to receive other allowances after they complete the training period successfully. CCA, HRA, DDA and special allowances will also be there according to the place of posting and scale of the employee.

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