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Friday, August 11, 2017



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To begin with, it is a well known fact to most of us that job aspirants across the country have a dream to acquire a job in the State Bank of India owing to the reputation it holds in the society.

Below are certain points that substantiate the earlier statement as to why aspirants choose a job in the SBI by writing the Upcoming Bank Exams :

Salary Structure: The bank officer gets a basic salary much better than a Po of a public sector bank as the SBI provides increments (four additional) at the start of their career. Hence whatever the salary is provided by the other Public Sector Banks (PSBs), SBI would provide you much better than that. The only exception to this would be in the case of basic salary for assistants where it would be similar for every bank. Employees would receive additional allowances like House Rent Allowance, Dearness Allowance and Special Allowance as part of their basic salary along with allowances like City Compensatory being a State Bank employee.

Provident Fund (Contributory ):  Aspirants might be aware of the fact that bank would contribute to the PF account of the employee as it follows the Defined Contributory Provident Funds and luckily for them 10 % basic would be the monthly contribution as per the latest data. However this

Facility for Lease:  Probationary officers are provided with accommodation lease in the area where they are posted and in place of this the HRA would not be credited as part of their salary. It has been heard that around 30000/- is paid by the bank for accommodation lease in cities like Mumbai in comparison to the other PSB’s. For clerks such a facility is not available at present.

Perks:  In addition to the salaries, the SBI officers would get different perquisites like entertainment allowance, newspaper allowance, petrol allowance, telephone bill reimbursement, briefcase allowance, books and magazines allowance, house maintenance allowance. On a monthly basis the perks would amount to around 5000/- .

Medical Benefits:  The major attraction in this job is that the employees of this bank enjoy a medical benefit scheme that is second to none.  For self treatment 100 percent reimbursement is provided whereas for the treatment of the dependent of the employee 75 per cent of the expense amount is reimbursed. Moreover, the bank has tie-up with some of the best medical facilities around the country and employees are eligible for cashless treatment in these places.

Concession of Leave Fare/ Home Travel:  Home travel concession or leave fare concession is available for officers as per their choice and could be availed in the slot of 2 to 4 years. Ac II-tier fare reimbursement for officers in scale 1 is granted in this scheme.

Sabbatical for two years for women staff:  This could be availed by women employee for important personal purposes like education for their children.

Concessional rate of interest for loans: Employees will be availed with the loan facility at concessional interest rates for car loans, housing loans. The interest rates for deposits are also 1 per cent higher than the public rates.

These are some of the major benefits of applying for a job at a national bank like the SBI by appearing for the IBPS PO Exam and should not be missed by job aspirants.

About Author

Being a writer, Anirudh believes in writing as nothing short of an art. Hence the passion exists only to develop stories make articles while penning blogs in an artistic fashion. For him ideas could be expressed and shared  only when you are able to put into writing. Travelling, visiting exotic locations, trying new food recipes and playing cricket are his main areas of interest.

Email :  anirudhsekhar(at)