Bank PO Salary & Allowances | Bank Probationary Officer Scale 1 Pay Scale

Some of you having doubts regarding the salaries and allowances one can get as a Bank PO. I will explain everything in detail.

What is the Bank PO Salary of newly recruited employees?

Ans Bank PO Pay scale is same for all PSU Banks. But it varies when it comes to allowances. Some banks give 15 liters of petrol bill i.e., fixed amount of petrol allowance. Where as some banks provide reimbursement of petrol bills. Below is pay scale of Bank PO.

Bank PO Salary = Basic Pay + DA + CCA + HRA

Scale I – 14500 – (600×7) 18700 – (700×2) – 20100 (800×7) – 25700

Basic Pay: According to this scale, Basic Pay is 14500 for newly recruited PO. After 1 year of service, you are eligible for 1 increment, i.e., Rs. 600. So, your Basic Pay will be Rs. 15100 after one year. Like that you will get increment of Rs. 600 for first 7 years. Next 8th increment will be Rs. 700 for next 2 years. This is the meaning of this pay scale. All your allowances are decided based upon your Basic Pay.

Dearness Allowance (DA): DA is determined based upon the Consumer price index (AICPN). It is revised for every 3 months. Feb, Mar, Apr | May, June, July | Aug, Sep, Oct | Nov, Dec, Jan. These are the quarters in which the DA will be changes according to the consumer price index.

From Feb 2013, DA for bank employees is: 80.25% of basic pay. So, DA for newly recruited PO will be Rs. 11636.25

City Compensation Allowance (CCA): This is for those who are posted in big cities. It 4% for Metro cities and 3% for other cities.

House Rent Allowance (HRA): HRA is also based on your place of posting. If you are working in metro cities HRA is 8.50%, Some other big cities with population more than 5 lakh, it is 7.50% and in other locations it is 6.50% of basic pay. Some banks provide leased accommodation allowance in place of HRA.

Bank PO Allowances/ Perks:

Leased Accommodation Allowance: This facility is available to Bank officers only. The lease amount vary from bank to bank and it is also depends upon place of postings. This can vary from Rs 2500 to over Rs.10,000/-. However, this amount is not available as cash component and it will directly go to the house owner in form cheque.

Medical Aid: Medical Aid allowance is provided annually. For newly recruited employees, it Rs. 5100. It is almost same in all banks.

Petrol Bill: This is variant in various banks. Banks give 15 to 25 liters of petrol. It is depends on bank.

News Paper Allowance: It is given quarterly. You can avail it for every 3 months. It is Rs. 150 to Rs. 200.

Mobile Phone Bill: It is also different from bank to bank. It is from Rs. 200 to Rs. 700 in various banks.

Entertainment Allowance: I have no idea about the amount paid in different banks.

Food & Beverage Allowance: It is Rs. 250 in all PSU banks.

So, this is whole information about the Bank PO salary and Bank PO Allowances. Revision has already become due wef 01/11/2012, but it is likely to take about 2 years to finalise the same.

Below is the chart comprises of all allowances and total salary of Bank PO at present.

Salary Metro Cities Cities (More than 5 lakh population Other Places
Basic Pay 14,500 14,500 14,500
DA (80.25%) 11,636 11,636 11,636
CCA 540 (4%) 375 (3%) 0
HRA 1232.50 (8.5%) 1087.50 (7.5%) 942.50 (6.5%)
Total 27,908.50 27598.50 27078.50

Adding the allowances to salary will make it around 4.6 lakh per annum. So, Bank PO Job is a well paid job. But you have to work hard and active in working hours. Ok.. Please correct me if iam wrong. thank you..

0 thoughts on “Bank PO Salary & Allowances | Bank Probationary Officer Scale 1 Pay Scale

  1. C Tejeshwara Reddy

    Your work is appreciated ……Lets see who is lucky chap gonna have this white colored job with this decent perks and pays…….
    Wish you good luck to all the fellow aspirants ….My God full fill our dream……
    OM SAI RAM…

    Reply
    1. Admin Post author

      new pay scale applicable from Nov 2012. Arrears will be paid when it was revised. Expected salary is Approx 32k for Newly recruited POs

      Reply
  2. bhavana

    preference kaise2 dena h pls admin sugest me.i hav 53.04 marks in st catgry.rank 950 in this catgry.is there any chance for my final selection. and in 10th,12th,graduation,post graduation i got first division marks. pls admin help me for selecting the preference

    Reply
  3. deelip

    dear admin,
    all the allowances like petrol, newspaper, mobile etc are provided from joininig date or after the completion of probation period?

    Reply
  4. utkarsh

    sir,
    above u hv stated dt d salary is 27k apprx while in response to a ques u said dat it wl be arond 32k…is it applicable for all banks participating in ibps po 2

    Reply
    1. Admin Post author

      32k will be after revision. it is effective from nov 2012. so it is applicable for all PO 2 candidates.

      Reply
  5. Dinesh

    Will all PSU banks provide the leased accomodation facility. Is it after the probation or from the date of joining.

    Reply
  6. sirisha

    Hi, I wanna get in to a bank job with starting as 25k per month. Will u please let me know for what post i can get the suitable salary. Also please explain the process of how to go with the bank exams , notifications as am from It field i dont have any idea. Hope your suggestion may help me…for waht i am looking for.

    Reply
  7. krishan

    salary of bank PO should be increased …..
    in other departments class 1 officer drawing the pay band from 15000 to 39010 Rs …

    Reply
  8. raju

    Hi sir,
    I am an be graduate with 75 percentage , can u plsss help me by saying which xam i should take and what is the maximum job i can try for… at present i am gonna attend ibps and hoe much can i earn after two years.. once becoming PO what are the chances i have for promotion and what should i do for that…

    Reply
    1. Admin Post author

      u can write bank PO and clerk exams. PO is best in direct recruitment. u will earn 28k per month. u will get promotion to scale 2 (manager) withing 4 years at this point of time.

      Reply
  9. gomathi

    sir, I have completed B.E with 85%.I have applied for the post of office assistant. Can I apply for the post of PO? Then, if I am selected as the office assistant, then how is my promotion criteria? Please inform me in detail sir

    Reply
    1. Admin Post author

      u can apply for PO. if got selected as office assistant in rural bank, u will get promotion in 4 to 6 yrs. if u join as clerk in PSU bank, u will get promotion within 4 yrs only.

      Reply
  10. Arun Kumar Kaithalivilayathil

    Sir, will the disparities in gross salaries among different banks vanish in the near future?

    Reply
  11. Jitesh Kumar Pandey

    Dear Admin,

    I have given my interview for the post of Officer (Credit/FA) in Dena Bank and now waiting for the final results. Since the post is of JMGS Scale I cadre, what will be the approx salary which i can get? I heard that same scale doesn’t mean same salary across the cadre. A lot will depend upon the kind of role and responsibility one is getting. Please Clarify. Thanks In Advance :)

    Reply
  12. hari

    hiiiiiiiiiii admin sir,i have interview in apgvb grameen bank for officer scale 1….may i know wat is d starting salary to newly recruited po in rrb bank?

    Reply
  13. Ajeet singh

    I have got information about the changing allowances and basic pay scale for bank po. It is around 40 lakh after the hike of 60.15% in basic pay…….pls tell me it is right info….

    Reply
  14. SUDIPTA SARKAR

    Dear Sir, IDBI already pays about 38000 (gross in rural – in hand about 29000) and about 44000 (gross in metros – in hand about 34000) as salary to newly joined POs. Can, you please say what will IDBI pay after settlement.

    Reply
  15. devika

    sir,
    im an IT engg graduate interested in applying for the post of PO. i wanted to know whether i’d be expected to have knowledge of finance and banking for applying for the post.

    Reply
  16. radhakishan meena

    sir ,i am working in lic and at present time my basic pay 11425 and my every year increment 755,so plese tell me my after wage revision salary

    Reply
  17. PINAKI M. SUTRADHAR

    Dear Sir,
    What will be the salary for Agriculture officer in United bank of india in scale 1. Is it at per with PO or in lower band.
    Regards,
    Pinaki

    Reply
  18. Prabin Kumar Biswas

    Im currently Dy. Manager in United Bank of India. My current basic is 16300. In june 2014 will be 16900. What will be tentative salary of mine after 10 BPS wage revision ????

    Reply
  19. Aditya

    Dear Admin,
    I am confused these days, Need your valuable suggestion to choose my career. I am an IT Proffessional with 2.3 years of exp. I have been selected as an IT OFFICER SCALE 2 in one of the Rural Banks and joining is in the month of March. Now, i am also quite positive about PO3 and likely to get the allotment in first list itself. Now please suggest me what should i join considering the fact that i wish to appear for IAS/State level administrative exams. Please HELP ME…. and do mention the reason behind your suggestion.
    Will be waiting for your reply. Thanks in advance Admin.

    Reply
  20. Sanjeev

    Hi, my brother joied as clerk in Union bank of india in june 2013, now completed MBA finance and JAIIB and now preparing for CAIIB. What more steps should i done for bright future.

    Reply

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