State Bank of India, one of the largest public sector banks in India has proved to be most impressive recruiting body that every banking aspirants wants to join. This is all due to its employee policies and benefits in package and other facilities. SBI offers such a handsome remuneration to attract and retain the best of talents in its court. We have come up with some important benefits that State Bank Group offers to its employees one should know well and get themselved prepared for upcoming SBI PO Exam 2016. Read More: SBI PO Recruitment 2016: Complete Selection Procedure Also Read - Mission College Admission: Step Towards Making Admissions Trouble-Free | Puja Sethi In Conversation With Prof. Pushpendra Singh, IIIT-D

Facilities and Benefits Offered to SBI Probationary Officers (PO) Also Read - Mission College Admission: Step Towards Making Admissions Trouble-Free | Puja Sethi In Conversation With Sibaram Khara, Sharda University

  • Salary Benefits: The basic salary issued to SBI PO is greater than other public sector banks. The reason behind this increment four additional increments at the primary stage to the officers. Whatever the basic salary is for other banks, candidates will get more than that in SBI.
  • Contributory Provident Fund: The employees who are in SBI are governed under the Defined Contributory Provident Funds Scheme in which the bank will make contributions to the PF account of PO and as per the latest data, the monthly contribution from the bank is Rs 1641
  • Lease Facility: Probationary Officers in SBI are eligible to get lease accommodation in their place of posting and in lieu of the lease accommodation provided by the bank, the House Rent Allowance (HRA) component will not be credited to the employee. The lease rental ceiling is very attractive lucrative in SBI for lease accommodation in Mumbai, the highest among all the public sector banks.
  • Medical Allowances: SBI employees also enjoys a medical benefit scheme, which is unmatched in the public sector. There is 100% reimbursement given for self treatment whereas 75% of the total amount is reimbursed if the treatment will be done on the dependent of the employee.
  • Home Travel Concession / Leave Fare Concession: Probationary Officers in SBI are also eligible for leave fare concession or leave travel concession and it can be taken in a block of 2 years or 4 years according to the choice of the employee. Also, the PO’s in scale 1 gets reimbursement of fare in AC II-tier of trains.
  • Perquisites: Apart from the regular salary, the PO in SBI are eligible for various perquisites like entertainment allowance, house maintenance allowance, newspaper allowance, petrol allowance, books and magazine allowance, briefcase allowance, reimbursement of telephone bills etc. The amount  of perquisites in the bank comes to around 5000/- on a monthly basis. The clerks in SBI also gets money for petrol allowance, entertainment allowance, newspaper grant etc on a monthly basis
  • Concessional rate of interest for loans: SBI PO eligible for loan under staff scheme in concessional rate of interest for housing loans, car loans etc. Moreover, the rate of interest (ROI) for deposits is also 1% more than the general public for the staff members
  • Furniture Allowance: SBI PO benefit is exclusively for officers as the bank provides a one-time grant to the officers for furnishing of residence and also an annual maintenance charge for the same. Presently, a scale I officer is entitled to get Rs 150000 for furnishing of residence for which the bank will recover a  nominal rent on yearly basis.
  • Two-year sabbatical to women employees: Women employees of State Bank of India can take two-year sabbatical leave from work for purposes such as children’s education.

Along with this benefits, State Bank Group also provides pomotion policy among all the public sector banks in India and it rewards its top performers accordingly. One should start preparing for SBI PO Exam 2016 to avial such attrative benefits and perks. Also Read - Mission College Admission: A Step Towards Making Your Admissions Trouble-Free | Puja Sethi In Conversation With Aditya Berlia