South Indian Bank PO Salary Structure 2024: Explore Pay Scale, Perks, & Job Profile
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Table of Contents
South Indian Bank is a major private-sector banking organisation with branches all across India. It recruits Probationary Officers by conducting exams every year. Not just that, the South Indian Bank PO salary is highly sought after and offers various growth opportunities in the banking sector.
Working as a Probationary Officer at South Indian Bank can be rewarding as well as challenging. There are many incentives for those who are appointed to this post. This includes South Indian Bank PO salary, perks and allowances. Knowledge about these incentives can motivate candidates to prepare well for the exam.
This article will contain details of the salary of a South Indian Bank PO. It will also cover the perks, the job profile and the career prospects for the post of South Indian Bank PO.
Understanding the South Indian Bank PO Salary Structure for 2024
The South India Bank PO salary ranges from 36,000 to 63,840 as per IBA guidelines.
In addition to the basic pay, South Indian Bank PO also receives the following allowances and benefits:
- Special Allowance
- City Competitive Allowance (CCA)
- Dearness Allowance (DA):
- House Rent Allowance (HRA)
- Medical Allowance
- Paid Leave
South Indian Bank PO Pay Scale
With years of experience, the South Indian Bank’s PO salary would also increase. The pay scale of the Probationary Officers is Rs. 36,000 – 1,490/7 – 46,430 – 1,740/2 – 49,910 – 1,990/7 – 63,840.
Check out the projected salary increment as years add to their job experience.
| Years | Basic Pay | Increment |
| First Year | Rs 36,000 | |
| Next Seven Years | Rs.36,000 | Rs 1,490 annually |
| Next two years | Rs 46,430 | Rs 1,740 annually |
| Next Seven Years | Rs 49,910 | Rs 1,990 annually |
- The pay scale of South Indian Bank PO increases every few years.
- The basic pay along with increments is mentioned in the above table. It reflects the hike in salary as job experience increases.
- The basic pay starts from Rs 36,000 and the maximum is Rs 63,840.
- The final South Indian Bank PO salary in hand may differ because of the location of the posting, tax deductions and changing financial regulations implemented by the government.
South Indian Bank PO Job Profile
Now that we’ve had a look at the South Indian Bank PO salary and the allowances linked to it, let’s check out the job profile of South Indian Bank Po.
South Indian Bank PO post has a probation period of 2 years. Candidates are appointed to the post of Assistant Manager when the candidates join the branch.
The job profile of South Indian Bank Probationary Officer includes:
- Manage daily customer transactions like passing a cheque, cash management, and draft issuance.
- Coordinate and control finance.
- Work as a public relations officer
- Address customer-related issues like customer discrepancies in accounts and handle customer complaints
- Be involved in planning, budgeting and marketing
- Process and approve loans and investment management
- Perform management tasks like supervision of clerks and making decisions for the benefit of the bank.
Career prospects & increments other than South Indian Bank PO salary
In addition to providing a handsome salary for a South Indian bank PO post, the job also offers an excellent promotion hierarchy. After completing a year’s probation period, a candidate is eligible for promotions. These are based on merit and years of experience.
In addition to providing a handsome salary for a South Indian bank PO post, the job also offers an excellent promotion hierarchy. After completing two years probation period, a candidate is eligible for promotions. These are based on merit and years of experience.
Here are the levels of promotions:
- Manager (Scale 2)
- Senior Manager (Scale 3)
- Chief Manager (Scale 4)
- Assistant General Manager (Scale 5)
- Deputy General Manager (Scale 6)
- General Manager (Scale 7)
- Executive Director (ED)
- Chairman and Managing Director (CMD)
Conclusion
South Indian Bank PO is a lucrative post for many aspiring candidates not only because of the South Indian Bank PO salary but also because of perks and career stability.
The starting basic pay is 36,000. The in-hand South Indian PO salary varies depending on allowances, deductions and location. Additionally, the salary differs based on new governmental regulations.
The South Indian Bank PO has several responsibilities, including managing daily customer transactions like passing a cheque, cash management, and draft issuance. They handle customer complaints and work as a public relations officer. Additionally, they plan budget, market and process loans.
An amazing career trajectory is assured with the post of South Indian Bank PO. With every promotion, the PO gets salary hikes and more job responsibilities.
Frequently Asked Questions ( FAQs )
What is the salary package of South Indian Bank?
In addition to a starting basic pay of Rs. 36,000, South Indian Bank PO are also offered various allowances. These include Special Allowance, City Competitive Allowance (CCA), Dearness Allowance (DA), House Rent Allowance (HRA), Medical Allowance and Paid Leave.
What is the salary of South Indian Bank PO?
The salary of a South Indian Bank PO ranges from Rs. 36,000 to Rs. 63,840.
In which bank PO salary is highest?
SBI (State Bank of India) offers the highest salary in India.
Is South Indian Bank PO a good job?
Yes, South Indian Bank offers a respectable career as a PO. In addition to a good salary, it also provides benefits such as allowances and perks. The candidates can also get promotions with increasing experience.
What is the job role of the PO in South Indian Bank?
The PO is responsible for tasks like managing customer transactions and handling complaints of the customers. They also act as public relations officers and are involved in marketing, budgeting and planning.
Is the South Indian Bank Interview tough?
Yes, the selection process for South Indian Bank has a moderately high level of difficulty. The Personal Interview round assesses a candidate’s knowledge of banking, communication skill and overall personality.
How can I become a PO at South Indian Bank?
To become a PO at South Indian Bank, you will have to go through the following stages- An online test, group discussion and personal interview.
Is South Indian Bank under IBPS?
No, South Indian Bank is not under IBPS. South Indian Bank conducts an independent recruitment process.