What is the Salary Obtained by a PO?
The starting salary of a probationary officer is same for both private as well as public sector banks. As per the latest revision, the Basic pay of a probationary officer is 23,700 INR
. The annual increment that a Bank PO will receive is Rs. 980 which will be applicable for a period of 7 years. The other major allowances included in the salary of a bank PO are as follows:-
- Dearness Allowance
DA in banks tends to change in every quarter of the year, and it is dependent on the CPI, which is declared by the government of India. The DA that is allotted as of now is 39.80% of the basic pay. DA is flexible, and it can go up as well as down depending on the inflation rate.
- Special allowance
The Special allowance that is given to scale 1 officer is 7.75% in which Dearness Allowance is also applicable.
House Rent Allowance depends on the place where you are posted and the allowance given is 9% or 8% or 7% respectively.
- City Compensatory Allowance
Like HRA, it is also dependent on the place where the posting has been allotted, and the allowance given can be 4% or 3% or 0% respectively.
Furthermore, as per the above statistics, it is known that the in-hand salary of a PO at the time of joining is around 37145 INR
if the joining takes place in a metro city. Furthermore, the in-hand salary of a PO would be 35800 INR
if the joining takes place in a rural area.