How Much will an SBI Clerk Position’s Salary be?
Are you preparing for the SBI Clerk exams? Then you must be curious to know about the salary, allowances, promotions, and other benefits associated with this job? The first thing you might be interested in learning about the position of an SBI clerk salary in hand is? Here, you will get a complete roundup on the same.
SBI Clerk’s in Hand Salary
The basic salary for an SBI clerk is Rs. 11765 per month. Along with the basic salary, an SBI clerk gets many other allowances. First, over the initial three years of service/job, you will get Rs. 11,765 as basic salary (per month) as well as an annual incentive of Rs. 655. Then after the clerk receives six increments that push pay up to Rs. 31,540 each month.
SBI Clerk Salary Hike Breakdown
As an SBI clerk, you may get your first increment after completing the first year of your service? Refer to the salary hike breakdown below for a better understanding.
- First Increment – The employee receives Rs. 13,730 in regular salary (per month) and an annual increment of Rs. 815 for the further three years of service/job.
- Second Increment – The employee’s minimum salary (per month) over the next three years of service/job is Rs. 13,730, with an annual increment of Rs. 815. After the second increment, the salary becomes Rs. 16175.
- Third Increment – An SBI clerk receives Rs. 20,095 in basic pay (per month) and Rs. 2,120 in annual increments over the next four years of service/job.
- Fourth Increment – The employee’s minimum salary (per month) during the next seven years of service/job is Rs. 28,810, with an average increment of Rs. 1,310 per year.
- Fifth Increment – After the fifth increment, the salary that an SBI clerk receives is Rs. 30,230 every month.
- The Sixth and Last Increment – After another year, the SBI clerk’s salary reaches a maximum of Rs. 31,540 per month. There are no more regular increments to the basic salary since it has reached its maximum.
SBI Clerk Salary Hike in a Glance
|Increment||Salary After Increment|
(Note: The entire amount is in INR)
As you are now aware of the position of an SBI clerk and the salary in hand, you might also be interested in knowing about the allowances that the bank offers to its clerks. Find below a list of various benefits apart from the basic pay.
- Dearness allowance (DA)
- Travelling Allowance (TA)
- House Rent Allowance (HRA)
- City allowance
- Medical allowance
- Special allowance
- Furniture and newspaper allowance
- DA is dependent on the CPI, or Consumer Price Index, and is updated quarterly or four times a year. In other words, during high inflation, DA rises, and vice versa.
- The HRA is determined by the city in which the SBI Clerk is appointed. The HRA will be higher if the area is a metropolis. The HRA in rural areas will be lower than in urban areas.
Do SBI Clerks Get Any Perks?
The SBI clerk salary involves perks like flexibility, financial protection, medical care, and pension benefits, much like every other bank job. A provident fund and medical are also included.
Hopefully, this post has offered you a clear understanding of the SBI clerk’s in hand salary along with the other job benefits. All in all, it can be said that the pay is decent when it comes to this entry-level bank job.