South Indian Bank PO Salary Structure 2024: Explore Pay Scale, Perks, & Job Profile

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 )