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One of the most prestigious jobs is the Probationary Officer (PO) post in the State Bank of India (SBI), one of the largest public sector banks in India. SBI provides a number of employee benefits for a PO. Let’s take a look at them.
- Attractive salary: If you have newly joined SBI PO, your salary will be more than that of a PO of any other public sector bank. This is because of four additional increments that are offered by SBI at the initial stage itself. Note that for assistants the basic salary is same for all banks.
- Allowances: SBI PO gets Dearness Allowance (DA), House Rent Allowance (HRA), Special allowance on the basic pay and City Compensatory Allowance.
- Job security: You’ll have no worry of losing job even in recession. It provides financial safety to all employees.
- Medical benefits: As an employee of SBI, your medical expenses (100% for you and 75% for your dependent family members) are born by SBI. The bank has tie-ups with a few medical institutesin the country and you can get cashless treatment in them.
- Provident fund: Under the Defined Contributory Provident Funds Scheme, SBI contributes to your PF account and the monthly contribution is 10% of basic.
- Leave policy: You can take 33 days of privilege leave and 12 days of casual leave per year apart from sick leave and maternity leave. Women and single men with children or aged parents can take a sabbatical leave for 2 years.
- Loans: You can get Housing Loan, Car Loan and Personal Loans at concessional interest rates.
- Scholarships to children: SBIprovides scholarships to meritorious children of all employees.
- Pension: You’ll getpension after retirement. So no financial worries in old age.
- Travel concessions: As an SBI employee, you can get travel concession in India. You can utilise Holiday homes and Bank’s guest houses at cities and tourist destinations.
- Other benefits: You’ll also get Newspaper allowance, petrol allowance, entertainment allowance, house maintenance allowance, books and magazine allowance, briefcase allowance, reimbursement of telephone bills. The total value of perquisites in the bank comes to around Rs.5000 per month. Also, you can get a one-time grant to furnish your house. You can also get an annual maintenance charge for the same.
- Good work life balance: As a bank employee you can get easily balance your time to between family and work. You can even prepare for competitive exams and improve your career.
Because there are so many perks and benefits offered by SBI for POs, the exam for recruitment has become quite competitive. You require a systematic preparation keeping in mind the latest exam pattern. Check SuccessLynk for notification, important dates, updates and much more.
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Posted in SBI PO