SBI Clerk Salary 2024: Revised In-Hand Salary, Job Profile, and Allowances

State Bank of India issues the SBI clerk notification annually to eligible banking fans for the fan’s associate positions. With the SBI Clerk exam approaching, aspirants are likely seeking detailed information on the salary of an SBI clerk, an essential consideration when opening a role. This article discusses the SBI clerk salary and in-hand remuneration, including perks, benefits, and allowances.

SBI Clerk Salary in 2024 

A new pay scale has been implemented for the SBI Clerk salary in 2024, and for the SBI Clerk position, the basic pay will start at Rs.18000 and increase by Rs. 1000 annually. The highest basic pay for the position of SBI Clerk is Rs. 47,940. Aspirants get a basic salary as well as extra bonuses and incentives. An annual uplift is another benefit that SBI provides to chosen employees. In the SBI Clerk recruitment, there are two phases for the aspirants to be determined for the SBI Clerk post; they must pass both rounds of the exam.

• First SBI Clerk salary-INR 19,900.
• The salary after the 1^st increment is INR 20,900.
• The salary after the 2^nd increment is INR 24,590.
• The salary after the 3^rd increment is INR 30,550.
• The salary after the 4^th increment is INR 42,600.
• The salary after the 5^th increment is INR 45,930.
• The salary after the 6^th increment is INR 47,920.

SBI Clerk Salary In-Hand 2024

Aspirants can get an in-hand salary ranging from Rs 26,000 to 30,000/-. Along with the basic wage, aspirants also get various perks, benefits, and allowances. Aspirants can check the complete syllabus information in this article. The salary structure is based on the location where aspirants are posted. SBI Clerk Salary 2024 (In-Hand) = (SBI Clerk Salary 2024 Basic Pay) + Allowances – Deductions.

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Yearly Increment of SBI Clerk Salary 2024

Aspirants posted to the post of Junior Associate are also provided with an annual increment, which keeps them motivated for their work. The table given below includes an increment table based on your basic pay:

SBI Clerk In Hand Salary in 2024 Provision of Newspapers

SBI Clerk Salary Perks and Allowances

Junior Associates may also receive different types of allowances depending on where the employees are located to work. They will also be compensated for various perks and benefits like provident fund, pension through the new pension scheme, sick leaves, and medical benefits. These reimbursements and facilities will be given according to the rules set by the SBI bank, which can change over time.

SBI Clerk Pay Scale in 2023

The SBI Clerk salary slip structures generally depend on the state where the employees are posted. Undoubtedly, the employees posted in the urban areas get more figures than the rural posting employees. The basic pay is Rs. 19,900, while the Maximum Basic Salary of an SBI Clerk can go up to Rs 47,930/-

SBI Clerk Allowances 

In a metro city like Delhi, the total starting salary for Junior Associates is around Rs. 29,000 per month, including Dearness Allowance and other allowances as per prevailing rate. In addition, newly hired employees will receive two additional salary increments. Earlier, Rs.26000 was the starting salary for metro cities. Refunds are also depending on the location of the posting. Candidates are authorized to repay for various benefits, pension funds under the new pension system, health, holiday travel, and other bank promotions.

Medical Facilities of SBI Clerk

Here we mentioned some of the medical facilities offered by the bank to the SBI clerk:

• SBI clerk aspirants can also avail themselves of medical allowances and benefits annually to care for their health needs.
• SBI also takes care of your hospitalization expenses if you ever need them.
• You can also expand your medical plan package, which is also available for illness.
• It also includes medical perks like vaccinations and regular checkups, which are included under these medical benefits for SBI clerk aspirants.

Job Profile of SBI Clerk

The Junior Associates of the State Bank of India are responsible for daily banking operations. Apart from understanding the salary of an SBI clerk, applicants should also understand the nature of the job they will be handling. These responsibilities include:

1. Functions as a Single Window Operator

• Daily bank functions such as opening accounts.
• Check the amount transferred through cheque/ NEFT/ RTGS.
• Issuance of Demand Drafts (DD), Cheque clearance, Cheque book requests, and receiving inward emails.
• Assisting the Branch Managers.
• Helped customers with their documentation work and basic office-related tasks such as filing, faxing, scanning, and copying.

2. Functions as Head Cashier

• The clerk also works as a cashier and is also involved and is involved with handling cash transactions of the concerned branch and transferring cheques.
• Junior associates may also work as special assistants at the bank.
• The clerks are also liable for addressing customer concerns and resolving them immediately.
• Maintaining the filling system and retrieving material from files is also crucial for clerks.

3. Agricultural Assistants

• Clerks can also assist in banking operations for agricultural development and financial assistance to small-scale firms.
• Analyzing the farm plans and application forms and assisting farmers in filling out the application form is also essential for junior assistants.
• During the stipulated period, verify the farm’s machinery, tractors, pump sets, equipment, etc..
• Maintain liaison with land records.

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Probation Period of SBI Clerk

The aspirants will be assigned on a probation period of 6 months. The newly recruited candidates will have to take an e-lesson per the bank’s rules and regulations during the probation period to get a confirmed job there. If the aspirant fails in the e-lesson, their probation period will be extended until completion of the probation period. Before the end of the probation period, the newly recruited employee’s performance will be analyzed. If they do not meet the bank’s expectations, they will have to retake E-lesson to get a permanent job in a bank. 

SBI Clerk Career Growth

The State Bank of India (SBI) provides promising career growth opportunities to its bank employees. Candidates who start their journey with the State Bank of India at a young age have the potential to achieve the career ladder and reach the position of General Manager. The promotions for SBI Clerks mainly occur through two passageways:

1. In-Cadre Promotion: Candidates can be promoted within their current job category based on their performance, experience, and eligibility criteria. This progression is tied to the time spent in a particular location where the candidate posted. Distinctly, candidates can also receive an additional monthly money allowance of 1900 rupees, which isn’t calculated in the basic pay calculation. Junior associates can get a promotion after completing a decade in their service. Once a senior associate completes their 30 years of service in the same position, they can get promoted to the chief associate position and earn an allowance of rupees 3500, which is also adjusted into the basic pay calculation. 
2. Promotion to the Office Cadre: After spending three years in bank service, an Associate can become a Trainee Officer. To progress to the Officer level, aspirants must clear the JAIIB and CAIIB examinations conducted by the Indian Institute of Banking & Finance. In addition to passing these exams, aspirants must succeed in a written test and an interview. If the aspirants successfully pass the written test, it leads to a two-year probation period. After probation, aspirants face an interview. 

Conclusion

SBI Clerk salary planning and setting a realistic income expectation level can be quite a simple process if you comprehend how your SBI Clerk salary is structured. Another benefit is it aids you to gain a rise in the step ladder of success and seize the opportunities coming your way, like promotions, which bring in further income and many other advantages. It not only assembles all your accounts – your savings, investments, and even budget but also helps you in organizing them. Additionally, you can gauge the competitiveness of the Banking Sector and the amount of available job opportunities will ultimately depend on the SBI Clerk’s compensation structure on your part.

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