Working as a bank PO or Probationary Officer is not only prestigious but also come with lucrative salary, perquisites and other benefits. The salary of POs in al PSU banks is decided and revised by the IBA (Indian Banks Association) and UFBU (United Forum of Bank Unions). The current salary for probationary officers is based on the Bipartite Settlement.

Salary Structure of a Bank PO – for Fresher

Major A Class Cities Other Places in Area I Other Places
Metro Cities (State Capital etc.) (District Level and Rural Areas)
Basic Pay 23700.00 23700.00 23700.00
Special Allowance 1836.75 1836.75 1836.75
Dearness Allowance @ 99.9% 10163.63 10163.63 10163.63
CCA (3% to 4% Max. Rs540/-) 870.00 600.00 0.00
Total Salary (Excluding HRA i.e. if Leased Accommodation is availed by the officer) Rs 36570.38 Rs 36300.38 Rs 35700.38
HRA – 8.5% ; 7.5%; 6.5%* Rs 2133.00 Rs 1896.00 1659.00
Total Salary (including HRA i.e. if officer does not avail leased accommodation) Rs 38703.38 Rs 38196.38 Rs 37359.38

Perquisites and Facilities for Bank PO at the Time of Joining (per month)

A – Class Cities Metropolitan Cities Area I Cities (State Capitals) Category B Places Category C Places
Leased House Rent INR 7,200 INR 5,300 INR 13,800 INR 2,800
News Paper INR 250 INR 250 INR 250 INR 250
Traveling Allowance INR 3,000 INR 3,000 INR 2,700 INR 2,300
Cleaning Materials INR 600 INR 600 INR 600 INR 600
Medical Aid INR 450 INR 450 INR 450 INR 450
Business Development Expenses INR 300 INR 300 INR 300 INR 300
Total Salary INR 11,800 INR 9,900 INR 9,400 INR 6,700

Know about SBI PO Salary
Apart from the perquisites mentioned above, some banks also provide INR 70,000 for furniture after every 10 years, medical expenses up to 90%, lunch allowance, and so on.

PO Pay scales on promotion from Scale I to Scale VII
Scale I 23700 980 30560 1145 32850 1310 42020
Scale II 31705 1145 32850 1310 45950
Scale III 42020 1310 48570 1460 51490
Scale IV 50030 1460 55870 1650 59170
Scale V 59170 1650 62470 1800 66070
Scale VI 68680 1960 76520
Scale VII 76520 2120 85000

Salary Structure of Bank Probationary Officer as per Designation(per month)

Designation Salary Range
JMGS – I (Junior Management Grade Scale -I) INR 14,500-600/7-18,700-700/2-20,100-800/7-25,700 + HRA, DA,
CCA, LTC, Medical benefits, terminal benefits as per rules
MMGS – II (Middle Management Grade Scale – II) INR 19,400 to INR 34,200
MMGS – III (Middle Management Grade Scale – III) INR 25,700 to INR 35,100
SMGS – IV (Senior Management Grade Scale – IV) INR 30,600 to INR 36,200
SMGS – V (Senior Management Grade Scale – V) INR 36,200 to INR 40,400

Median Pay Scale of PO as Per Years of Experience:

Years of Experience Average Annual Salary
Less than 1 year INR 1 lakh
1 year to 4 years INR 3 lakh
5 years to 9 years INR 5.7 lakh
10 years to 19 years INR 6.8 lakh
More than 20 years INR 5.3 lakh

Median Pay Scale of PO as Per Cities in India

The median pay scale for bank probationary officers as per different cities in India is given below:

Name of the City Average Salary
Mumbai INR 5.8 lakh
Bangalore INR 5.8 lakh
New Delhi INR 4.5 lakh
Hyderabad INR 4 lakh
Kolkata INR 2.7 lakh

Median Pay Scale of PO as Per States in India

The median pay scale for bank probationary officers as per different states in India is given below:

Name of the State Average Salary
Maharashtra INR 5 lakh
Karnataka INR 5.8 lakh
Delhi INR 4.6 lakh
Andhra Pradesh INR 3.5 lakh
West Bengal INR 3 lakh
Tamil Nadu INR 3.3 lakh
Uttar Pradesh INR 1.8 lakh

Top Banks in India

Top Banks pay higher salaries to their POs to retain them for longer period and to produce efficient outcomes. Salary of PO in SBI and Bank of India are among the highest. They are paid paid well with other allowance. Bank of Baroda PO salary is also comes among highest in the banking sector to POs.

State Bank of IndiaAllahabad Bank

Top Banks
State Bank of India Allahabad Bank
Bank of India Andhra Bank
Canara Bank Bank of Baroda
Corporation Bank Bank of Maharashtra
Indian Overseas Bank Central Bank of India

Certifications Required for a Job as a Bank PO

  • To apply for a post as a probationary officer, a candidate should be between 20 years and 30 years.
  • Minimum education qualification need is graduation with 55% marks. For candidates belonging to the SC/ST/PwD categories the minimum aggregate required is 50%.
  • Eligible candidates need to qualify in IBPS or equivalent examination. Candidates are selected on the basis of performance in IBPS and interview.

Growth Opportunity for a Bank Probationary Officer

Once you join as a bank probationary officer, with years of knowledge and skills acquired, you can reach the topmost level, i.e. the chairman designation. Nearly all the heads start their career as probationary officers. Generally, the probation period in a bank is of two years and after that as an officer you will be exposed to various bank responsibilities. After the completion of probation period, you will be confirmed as an assistant manager and get a permanent posting. Nowadays, some banks are also designating officers as deputy managers after the completion of probation period. During the probation period you will belong to the junior management grade scale (JMHS), after that the scale would be of middle management grade scale (MMHS). The promotion opportunities in a bank are at regular intervals of three to four years.