Bank of Baroda PO Salary 2023: In-hand Salary, Perks, Allowances & Benefits
Table of Contents
Table of Contents
Bank of Baroda PO Salary 2023: Overview
The Bank of Baroda Probationary Officer (PO) is a popular job in the banking sector in India. The Bank of Baroda PO Salary 2023 includes a Basic Pay of Rs. 23,700 – Rs. 42,020. The other allowances include Dearness Allowance (DA), House Rent Allowance (HRA), Special Allowance, and other perks and benefits.
Overall, the in-hand Bank of Baroda PO salary is approx. Rs. 34,000 per month. However, the Bank of Baroda salary can vary depending on the posting location and other factors. In addition, Bank of Baroda salary also includes various other benefits such as a pension, gratuity, and provident fund.
Bank of Baroda PO Salary Structure
| Particulars | Details |
| Pay Scale | INR 23700-980 x 7/30560-1145 x 2/32850-1310 x 7/42020 |
| Basic Pay | INR 23700 |
| In-Hand Salary | INR 28,321 to INR 33,986 monthly (Almost) |
| Allowances | • Dearness Allowances • House Rent Allowances • City Compensatory Allowance • Transport Allowance • Medical Facilities • Accident Insurance • LTC • Loan Facilities • Other Allowances |
Bank of Baroda PO Salary: Perks & Benefits
Some of the major perks and additional benefits along with a Bank of Baroda PO salary are:
- House Rent Allowance
- Dearness Allowance
- Medical Allowances
- Transport Allowances
- Provident Fund (PF)
- Gratuity
- Medical Benefits
- Leave Policy
- Loans and Advances
- Training and Development
Bank of Baroda PO Salary: In-Hand Salary
Here is an overview of the Bank of Baroda PO salary an employee gets after government deductions based on government guidelines.
The Bank of Baroda PO salary structure attracts deserving and qualified applicants. The salary scale of the workers is INR 23700-980 x 7/30560-1145 x 2/32850-1310 x 7/42020.
In addition, the BOB PO will be paid a base pay of INR 23,700 with an annual raise of INR 980. This increase will be repeated seven times till the base wage reaches INR 30,560.
The applicants will receive an INR 1,145 increment for two years, after which their income will be INR 32,850. Then the increment will climb to INR 1310 for the following seven years until they receive INR 42,020 as compensation.
In addition to competitive pay, probationary officers will get additional benefits such as DA, HRA, City Compensatory Allowance, Transport Allowance, Accident Insurance, and LTC, among others.
After adding the basic pay and allowances and subtracting the deductions, the Bank of Baroda’s PO salary comes in handy.
Bank of Baroda PO: Job Profile
Bank of Baroda PO is liable for the following duties and responsibilities:
- Customer Communication: Present new rules and schemes to consumers, advising them about creating new bank accounts, issuing ATM cards, and assisting customers with deposits and receipts.
- Loan and Credit Facilities: BOB PO’s responsibilities include loan sanctioning and approval. They are responsible for double-checking all of the customer’s documentation to approve the loan.
- Regulation of Banking Activities: Keeping formal records of the loans from various organizations and reminding them to pay the loans on schedule.
- Report Verification: Keeping the bank’s annual balance sheets and reviewing annual reports. Preparing the audit report for the fiscal year and comparing it to the previous year’s report to determine the bank’s profit or loss.
Bank of Baroda PO: Career Growth
Bank of Baroda offers several career growth opportunities for its Probationary Officers (POs). Here are some of the ways in which a Bank of Baroda PO can advance their career:
- Promotions: Bank of Baroda has a well-defined promotion policy for its employees. A PO can be promoted to the following based on their performance and experience.
o Manager.
o Senior Manager.
o Chief Manager.
o Assistant General Manager.
o Deputy General Manager.
o General Manager - Job rotations: Bank of Baroda allows its employees to work in different departments. This helps them get a broader perspective of the organization and develop their skills in different areas.
- Training and development: Bank of Baroda offers employees various training and development programs. These programs help employees enhance their skills and knowledge and stay updated with industry trends and practices.
- International assignments: Bank of Baroda has a presence in several countries worldwide. It allows its employees to work in its overseas branches and gain international exposure.
Overall, the Bank of Baroda provides its POs with several opportunities to advance their careers and achieve their professional goals. It is up to the individual to take advantage of these opportunities and make the most of their career at the bank.
Bank of Baroda PO: Probation Period
Shortlisted students will be required to complete a nine-month campus program and get a Post Graduate Certificate in Banking and Finance upon satisfactory completion of the course. Candidates who successfully finish the Post Graduate Certificate course will be appointed in the bank as PO in JMG/S-I and posted anywhere in the country as determined by the bank.
Candidates will immediately begin a three-month Work Integrated Learning (WIL) program in the form of On Job Training in any Bank of Baroda branch, after which they will be awarded a Post-Graduate Diploma in Banking & Finance by Manipal University.
The program can be extended for an additional 18 months of blended learning. This is optional for students and results in the granting of an MBA in Banking and Finance from Manipal University.
Bank of Baroda PO (FAQs)
The salary of the State Bank of India Probationary Officer (SBI PO) is the highest among the public banks in India.
A newly hired BOB PO officer will start at INR 23700 and earn an INR 980 rise after one year.
The basic pay of a Bank of Baroda Probationary Officer starts at 23700/-
The in-hand Bank of Baroda PO Salary ranges between INR 28,321 to INR 33,986 monthly.
Yes, the post of a Probationary Officer in the Bank of Baroda is a government job.