When you join SBI as a Probationary Officer (PO) then you sign up for one of the most prestigious posts in the banking sector. The State Bank of India has a strong work culture and offers plenty of opportunities to dedicated employees to thrive in this profession.
SBI offers the highest compensation in the banking sector for entry-level Probationary Officers. And with such high compensation in PO, all it comes to the financial habits you adopt. The best financial habit would be saving money and building a corpus for your future.
Get all your questions answered below.
Here, we have estimated how much corpus can you build once you join SBI as PO. It is just an ideal scenario we are providing, however, it all depends on your expenditures and other factors.
The table below shows the approximate estimate of your corpus built in a time span of 10 years. Please note that this table only depicts the ideal case scenario. It may vary on individual circumstances.
Tier 1 City | Tier 2 City | |||
---|---|---|---|---|
Living | On Rent | Own a House | On Rent | Own a House |
Gross Salary/month | 60000 | 60000 | 60000 | 60000 |
Expenditure/month* | 35000 | 20000 | 20000 | 15000 |
Saving/month | 25000 | 40000 | 40000 | 45000 |
1st year you can save | 300000 | 480000 | 480000 | 540000 |
By 2nd year, you can save | 600000 | 960000 | 960000 | 1080000 |
By 3rd year, you could save | 900000 | 1440000 | 1440000 | 1620000 |
By 4rd year, you could save | 1200000 | 1920000 | 1920000 | 2160000 |
At the end of 5th year, your saving*** | 1530000 | 2448000 | 2448000 | 2754000 |
*Excludes HRA
**The savings remains static if we account for increased salary and inflation
***Accounting for promotion and inflation
Tier 1 City | Tier 2 City | |||
---|---|---|---|---|
Living | On Rent | Own a House | On Rent | Own a House |
Gross Salary/month | 70000 | 70000 | 70000 | 70000 |
Expenditure/month* | 38000 | 26000 | 26000 | 20000 |
Saving/month | 32000 | 44000 | 44000 | 50000 |
By 6th year, you can save | 1914000 | 2976000 | 2976000 | 3354000 |
By 7th year, you can save | 2298000 | 3504000 | 3504000 | 3954000 |
8th year Saving | 2682000 | 4032000 | 4032000 | 4554000 |
9th year saving | 3066000 | 4560000 | 4560000 | 5154000 |
10th year savings | 3450000 | 5088000 | 5088000 | 5754000 |
*Salary increment and inflation