SBI Clerk Salary 2024, Latest Salary Slip, Perks & Allowances

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SBI Clerk Salary 2024

The State Bank of India, by issuing notification, recruits individuals for the post of Junior Associates in SBI across India. Through the notification, SBI also notify candidates the SBI Clerk Salary. SBI is a venerable institution in the banking sector, and securing a position as an SBI Clerk is a coveted accomplishment for many aspirants. Aspirants interested in the position of Junior Associate should be acquainted with the attractive pay scale offered.  In addition to the salary, aspirants should also be familiar with the job profile and career growth. 

SBI Clerk Salary 2024

SBI Clerk’s In-Hand Salary in a metropolitan city like Mumbai will be approximately Rs.37,000/- per month inclusive of DA and other allowances at the current rate and two additional increments for newly appointed junior associates. The pay scale for SBI Clerk Salary 2024 is Rs.17900-1000/3-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920. Candidates can refer to this article to get complete information regarding SBI Clerk Salary 2024.

SBI Clerk Salary Structure

SBI Clerk In Hand Salary is the amount that an employee receive after deductions such as provident fund (PF), professional tax, and income tax. The in-hand salary may vary based on individual deductions and allowances. SBI Clerk Salary varies as per the location of the candidate’s posting. The given table comprises the SBI Clerk Salary Structure comprising the different constituents.

SBI Clerk Salary Structure
ConstituentAmount
Basic Pay (including 2 annual increments)19,900.00
Dearness Allowances (46.5%)9.253.50
House Rent Allowances2,091.00
Transport Allowance600.00
Special Allowance3,263.00
Special Pay500.00
Gross Pay35607.50
Deductions3,043.00
Net Pay32,564.50

SBI Clerk Salary 2024: Deductions

There are various deductions that SBI deducts from the Gross Pay of its employees like Professional Tax, etc. The deductions are mainly statutory and considered for income tax calculations. Candidates can check the deductions listed below.

SBI Clerk Salary 2024: Deductions
DeductionsAmount
Professional Tax209
Pension Fund2,834
Total3,043

SBI Clerk Salary 2024: Increments

The employees of SBI are entitled to annual increments as per the pay scale provided by SBI. Candidates should note that there shall be notable revisions to the salary structure for SBI Clerk positions from time to time. These revisions aim to ensure competitive compensation for employees while aligning with prevailing market standards and internal policies.

SBI Clerk Salary 2024: Increments
Basic PayIncrementsPeriodYears of Service
₹ 17,9001000/-For 3 years03
₹ 20,9001230/-For the next 3 years06
₹ 24,5901490/-For the next 4 years10
₹ 30,5501730/-For the next 7 years17
₹ 42,6003270/-For the next 1 year18
₹ 45,9301990/-For the next 1 year19
₹ 47,920

SBI Clerk Salary: Perks & Allowances

The allowances provided to Junior Associates may vary based on their place of posting. They will have the opportunity to receive reimbursement for various benefits and perquisites such as provident fund, Pension under the New Pension Scheme (Defined Contribution Benefit), Medical benefits, leave fare, and other facilities. These reimbursements and facilities will be granted by the instructions issued by the Bank from time to time.

Conveyance Allowance

The table provides details of the monthly reimbursement for conveyance allowances granted to a candidate appointed for the post of junior associate.

SBI Clerk Salary 2024: Conveyance Allowance
Reimbursement Per Month
Category of EmployeesMaintaining two or Four Wheelers (Petrol in litres)Not Maintaining Vehicles (Amount in Rs)Entertainment Expenses (Amount in Rs)
Chief Associate (Working as cash-in-charge)439001140
Chief Associate43900600
Special Associate35850540
Senior Associate25700420
Associates/Junior Associates20625360

Provision Of Newspapers

The category-wise amount for the provision of newspapers to an SBI Junior Associate is mentioned in the below table.

SBI Clerk Salary 2024: Provision Of Newspapers
Category of StaffRupees Per Month
Chief Associates530
Special Associates working as cash-in-charge/ATM/Locker-in-charge/Members of outbound sales force530
Other chief associates/special associates/senior associates/associates/junior associates450
Subordinate Staff350

Medical Facilities

The medical benefits that an SBI Clerk gets are as follows:

  1. Annual Medical Aid: Employees are eligible for an annual medical aid benefit.
  2. Improved Medical Aid (Specified Serious Disease): Enhanced medical aid coverage is provided specifically for specified serious diseases.
  3. Hospitalization Scheme: A scheme is in place to cover hospitalization expenses.
  4. Other Medical Benefits: Additional medical benefits include coverage for vaccinations.

SBI Clerk Salary: Job Profile & Promotion

The Junior Associates at the State Bank of India manage various day-to-day banking operations. Along with SBI Clerk Salary, candidates should also be familiar with the job profile.

  • Cash handling at counters
  • Interacting with customers and resolving their queries
  • Assisting customers with documentation requirements
  • Account opening procedures
  • Conducting RTGS/NEFT transactions
  • Managing chequebook requests
  • Issuing demand drafts

SBI Clerk Salary 2024: Career Growth

The State Bank of India provides excellent career advancement opportunities for its employees, ensuring substantial growth. Candidates who join SBI at a young age have the potential to progress to the position of General Manager. The promotions for SBI Clerks primarily occur through two ways:

  • In-cadre promotion: Employees have the opportunity to receive promotions within their existing cadre or position, based on their performance, experience, and eligibility criteria.
  • Promotion to the office cadre: Employees may also be promoted to higher cadres, such as Officer positions, through a structured promotion process that considers their skills, qualifications, and performance.

In Cadre Promotion

The category of In Cadre Promotion for an SBI Clerk employee is time-bound and based on home posting.

  • Apart from the total salary, employees are entitled to receive a special allowance of 1800 rupees per month. It is important to note that this allowance is not included in the calculation of the basic pay. Upon completing 10 years of service, an Associate is promoted to the position of Senior Associate.
  • After serving for twenty years, an Associate becomes a Special Associate. At this stage, a special allowance of 2500 rupees is provided every month. It is significant to mention that after reaching this stage, the allowance is considered in the calculation of the basic pay.
  • Upon completing 30 years of service, an associate is promoted to the position of Chief Associate. At this stage, a special allowance of 3500 rupees is paid, and this amount is taken into account when calculating the basic pay.

Promotion To The Office Cadre

After completing three years of service, an Associate has the opportunity to become a Trainee Officer. To progress to the Officer level, candidates must qualify in the JAIIB (Junior Associate of the Indian Institute of Bankers) and CAIIB (Certified Associate of the Indian Institute of Bankers) examinations, which are conducted by the Indian Institute of Banking & Finance. In addition to clearing the JAIIB and CAIIB exams, candidates are required to pass an internal written test and interview. Upon successfully clearing the written test, candidates must serve a two-year probation period. After completing the probation period, candidates will undergo an interview. Those who pass the interview will be promoted to the Middle Management grade (Scale 2). The remaining candidates who do not clear the interview will continue in the clerical grade.

SBI Clerk Salary: Know the Annual Package

The annual package of SBI Clerk Salary includes basic pay, various allowances and additional perks. In addition to the fixed components, SBI Clerks may also be eligible for performance-based incentives and bonuses, further enhancing their earnings potential. The comprehensive salary package is complemented by a range of benefits, including healthcare, retirement plans, and other perks, making SBI an employer of choice in the banking sector. The annual package of the SBI Clerk shall be around ₹ 4.44 lakhs.

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FAQs

Q: What is the basic pay of an SBI Clerk?

A: The SBI Clerk Basic pay scale 2023 is 17900-1000/3-20900-1230/3-24590-1490/4-30550-1730/7-42600-3270/1-45930-1990/1-47920..
 

Q: What is the Dearness Allowance for the SBI clerk?

A: The dearness allowance of the SBI clerk will range between 4 to 7 % of the basic salary.

Q: What is the maximum basic pay of an SBI Clerk?

A: After a few years, the maximum basic pay will reach to Rs. 32564.

Q: What are the allowance details of the SBI clerk?

A: The allowance will include, House Rent Allowance, Dearness Allowance, Transport allowance, newspaper allowance, city allowance, etc.

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