SBI Clerk Salary Structure- In order to fill 14191 Junior Associate positions, State Bank of India (SBI) has issued SBI Clerk Notification 2024, which is open to qualified banking candidates. As the SBI Clerk test draws near, candidates should be searching for the SBI Clerk Salary, which is a crucial factor in their decision to apply for the position. This article discusses the salary of SBI clerks. Below is the in-hand compensation for the Junior Associate (Clerk) position along with benefits and allowances. The data is in accordance with the official announcement.
SBI Clerk Salary Structure 2025
The approximate amount that a candidate receives after deductions is included in the SBI Clerk’s in-hand salary. In a metropolis like Mumbai, an SBI clerk’s beginning pay is roughly Rs. 46,000. The posting’s location, which varies in urban and rural areas, is one element that affects this sum. The new SBI Clerk pay scale was introduced this year after SBI made revisions to the previous one.
About State Bank of India
With its headquarters located in Mumbai, Maharashtra, State Bank of India (SBI) is a worldwide public sector bank and statutory entity that provides financial services. As the only Indian bank on the Fortune Global 500 list of the world’s largest firms for 2024, it is rated 178th and is the 48th largest bank in the world by total assets. With a 25 percent market share in loans and deposits and a 23 percent market share in assets, it is the biggest bank in India and a public sector institution.
SBI Clerk Promotion
There are two ways for an SBI clerk to be promoted:
- In-cadre Promotion
- Promotion to Officer cadre
In-cadre promotion:
This kind of marketing, which has a time limit, is based on house postings:
- The whole pay is paid plus a special allowance of Rs 1800. The assistant advances to the position of Senior Assistant after ten years of service.
- This allowance is not taken into account when determining base salary. After twenty years of service, an assistant will be promoted to Special Assistant.
- A specific allowance of Rs 2,500 is given for this position; this amount is taken into account when determining basic pay. After thirty years of service, an assistant will be promoted to Senior Special Assistant.
- A specific allowance of Rs 3,500 is given for this position; this amount is taken into account when determining basic pay.
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Promotion to Officer Cadre:
After three years of service, an assistant is promoted to trainee officer.
- In addition to passing the internal written test and the in-person interview, this involves passing the JAIIB and CAIIB exams administered by the Indian Institute of Banking and Finance (IIBF). Following that, these officers are placed on a two-year probationary period.
- Following the probationary period, they are either returned to Clerical Cadre or incorporated into the Middle Management Grade (Scale II) based on their personal interview.
- After completing six years of service in the fast track channel or twelve years in the regular track channel, an assistant can advance to the rank of Scale-I Officer, also in the Junior Management Grade.
- JAIIB and CAIIB certifications are also crucial for quicker promotions, and candidates must pass both the written exam and the in-person interview.
Salary Package for SBI Clerks: Annual
An SBI Clerk’s entire yearly compensation, including salary, benefits, and allowances, comes to about ₹4.92 lakhs. For anyone seeking a steady career and advancement in the banking industry, this package offers good financial security, making it an excellent choice.
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Basic Pay and Allowances
For an SBI Clerk, the starting base salary is ₹24,050. Additionally, there are other benefits that raise the pay. These consist of:
- Dearness Allowance (DA): This aids in paying for the rising expenses of living. It is computed as a proportion of base salary. If you live in a rental property, you are eligible for the House Rent Allowance (HRA).
- Transport Allowance: This covers travel expenses and other costs associated with commuting.
- Depending on their base pay, each person receives a separate special allowance, which is an additional sum that is granted as a certain proportion of their base pay.
The overall gross salary increases significantly when all of these benefits are included. But your take-home pay will be less after certain deductions (such as taxes and retirement funds).
SBI Clerk Salary Structure Breakdown
Component | Amount (in INR) |
Basic Pay | ₹26,730 |
Dearness Allowance (DA) | ₹6,168.51 |
House Rent Allowance (HRA) | ₹2,862.83 |
Transport Allowance | ₹850 |
Special Allowance | ₹7,083.45 |
Special Pay | ₹1,200 |
Gross Salary | ₹44,894.79 |
Deductions | ₹3,673 |
Net Pay (In-hand Salary) | ₹41,221.79 |
All things considered, the total salary is ₹44,894.79. However, a total of ₹3,673 is deducted for things like taxes and retirement savings. Following these deductions, your real take-home pay, or in-hand salary, is about ₹41,221.79, or ₹41,000.
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Deductions from Salary of SBI Clerk
The amount you actually take home after a few deductions is known as your “in-hand salary,” whereas your gross salary is the complete amount before any deductions. The government makes the deductions, which are listed below:
- Provident Fund (PF): To help you save for retirement, a portion of your pay is deducted.
- Professional Tax: Depending on the state in which you work, this tax is withheld.
- Another deduction made for your future pension plan is the National Pension Scheme (NPS).
You receive your in-hand salary—the amount you can spend—after these deductions.
Breakdown of Deductions
An explanation of the salary deductions is provided below:
Deductions | Amount (in INR) |
Provident Fund (PF) | ₹200 |
Professional Tax | ₹200 |
NPS Contribution | ₹3,273 |
Total Deductions | ₹3,673 |
The government makes these deductions. They assist in ensuring that workers have retirement funds and a future pension plan.
Salary Increases for SBI Clerk Salary Structure
Every Year Annual increments are given to SBI clerks, so that their pay rises annually. The length of time an employee has worked for the bank determines how much of an increase they will receive. The wage rises over time as a result of the basic pay increasing after a few years. When you work at the bank for a long period, your base pay grows on a regular basis. This is how SBI Clerks’ pay increases operate:
Basic Pay | Increment | Period | Years of Service |
₹24,050 | ₹1,340 | 3 years | 3 years |
₹28,070 | ₹1,650 | 3 years | 6 years |
₹33,020 | ₹2,000 | 4 years | 10 years |
₹41,020 | ₹2,340 | 7 years | 17 years |
₹57,400 | ₹4,400 | 1 year | 18 years |
₹61,800 | ₹2,680 | 1 year | 19 years |
Benefits & Perks for SBI Clerk Salary Structure
In addition to their regular pay, SBI clerks receive numerous advantages and privileges, which further enhances the appeal of the position. Here are a few advantages:
- Benefits for Medical Conditions: SBI offers funds for hospital stays and treatment of severe illnesses.
- Conveyance Allowance: Depending on their residence and mode of transportation, employees receive reimbursement for their travel expenses.
- SBI clerks receive a newspaper allowance to help with the expense of newspapers.
- Other perks: Employees may also be eligible for other perks, such as reimbursement for phone bills and gasoline or diesel, depending on their position and area.
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Career Development for SBI Clerk Salary Structure
SBI offers its clerks excellent professional progression opportunities. Promotions come in two primary varieties:
- Within the cadre Promotion: A clerk may advance to a senior associate role after a few years of employment.
- Promotion to Officer Cadre: After a while, clerks can pursue positions as officers, but they must pass tests like the CAIIB and JAIIB.
Employees receive fantastic careers as a result of these advancements. Additionally, higher positions come with more responsibility and better pay.
Conclusion
Along with a variety of benefits and allowances, the SBI Clerk Salary is very competitive. You begin with an in-hand wage of roughly ₹41,000. Your pay will eventually rise as a result of promotions, annual raises, and additional benefits. This implies that working as a clerk at SBI can lead to a fantastic career. You must be certain that this position will offer both financial stability and growth prospects if you’re studying for the SBI Clerk Exam.
Frequently Asked Questions
What would an SBI clerk’s base salary be in 2024?
An SBI clerk’s base salary is ₹24,050, and it rises with yearly raises.
What will an SBI clerk’s in-hand Pay be in 2024?
After all deductions, the in-hand salary is roughly ₹41,000 per month.
Which benefits are covered by the Salary of an SBI clerk?
Among the benefits are the House Rent Allowance (HRA), Transportation Allowance, Special Allowance, Dearness Allowance (DA), and others.
What are the SBI Clerk salary deductions?
The deductions consist of contributions to the National Pension Scheme (NPS), Professional Tax, and Provident Fund (PF).
Does the remuneration of an SBI Clerk increase annually?
In accordance with their years of service, SBI clerks do indeed receive yearly raises.