The starting basic pay of a Probationary Officer in State Bank of India is Rs 16,900/- (with 4 increments) in the scale of Rs 14500-600/7-18700-700/2-20100-800/7-25700.

In addition to Basic Pay, bank officers (i.e. Probationary officers / PO / Management Trainees) are eligible for the following allowances :-

(a) Dearness Allowance (DA) : DA in banks is revised on quarterly basis (i.e. in the months of February, May, August and November) based on the CPI as declared by Government of India.

(b) Special Allowance: This has been added in 10th BPS (wef 01/11/2012) and for scale I is 7.75% on which DA is also payable

(c) HRA: This depends on the place of posting and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.

(d) CCA: This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3%(Maximum Rs.600/-) or 0%

Perks that are available to Bank PO:

(a) Leased Accommodation

(b) Traveling Allowance

(c) Newspaper Reimbursement

(d) Medical Aid : A fixed annual amount is paid by most of the banks (Revised amount is Rs8000/- p.a.)

(e) Coverage under New Pension Sche