Bank PO salary is quite handsome. Bank reward each officer with good basic salary along with many allowances. This is the reason why many candidates prefer banking as a career option.
Banks play a crucial role in the economic development of any country. Banking has changed with the needs of the economy over the year. Selecting banking as a career is a good opportunity for enhancing the capability of oneself. Every year bank recruits lots of candidates for its clerical and Officer Post. Many bank aspirants are often confused about the salary of a Bank PO. Here we have discussed complete salary structure of a newly recruited Bank PO.
|Special Allowance (SA)||1836.75|
|Dental Allowance (DA)||10163.63|
|City Compensatory Allowance (CCA)||870|
|Transport Allowance (TA)||–|
|Total (without HRA)||36570.38|
|House Rent Allowance (HRA)||2133.00|
|Gross with HRA||38703.38|
|Gross Annual CTC (with HRA but without leased accommodation)||5,57,640.52|
What is the Salary of Bank PO?
With the changing phase of competition and exams getting tougher , candidates tend to lose their hope for clearing Bank PO exam .So in this situation motivation in terms of salary and perks can make a candidate try a little bit more to earn and learn more. Bank PO salary in Private and Public Sector bank is quite similar so here we can check what is the Bank PO salary.
The Lump Sum Salary of a Bank PO is Rs. 46470/- per month inclusive of all the allowances.
Bank PO Salary Structure
The Allowances and complete salary structure is discussed below:
Basic Pay scale of a Bank PO employee is Rs 23700/-
The special allowances provided to the employee is Rs 1836.75/-
The Dearness allowance provided to the employee is Rs 10163.63/- It is the Cost of living adjustment allowance paid to all the government Probationary Officer (PO)
CCA (City compensatory Allowance) provided to the employee is Rs.870 /- This depends on the place of posting and can be 4% ,3% and even 0%.
HRA( House Rent Allowance )provided to the employee is Rs 2133/- This depends on the place of posting and can be 9% ,8% and 7%.
Medical Aid provided to the employee is Rs 8000/-
Entertainment allowance provided to the employee is Rs 500/-
Newspaper allowance provided to the employee is Rs 300/-
Petrol allowance provided to the employee is Rs 3000/-
Telephone allowance provided to the employee is Rs 400/-
Canteen allowance provided to the employee is Rs 400/-
Pension contribution by the employee is Rs 2500/-
Note:Candidate must note that he salary of bank PO may vary according to the location and bank of an officer . Salary in Metro cities are comparatively higher than the Rural Cities/remote areas.
Bank PO Job Profile
What is the job profile of a Bank PO? A Bank PO is trained on multiple verticals such as finance, accounting, billing etc as the young and enthusiast candidates are passionate about their role in the bank, Hence a PO has to make sure the business of the bank keeps on increasing by implementing and managing efficient banking strategy & handling the customer complaints.